Binance, the world leader on the cryptocurrency market, launched its first futures contract with a quarterly expiry date. This contract is now available on his derivatives trading platform – Binance Futures.
BTC / USD quarterly futures contract on the Binance exchange
Binance has officially introduced its first cryptocurrency futures contract, which has an expiration date. It is a BTCUSD quarterly forward contract that allows investors to set leverage up to 125x.
Binance users can control their balance by distributing them into all their open positions or setting individual limits for each of them. They can also choose to keep one direction (i.e. long or short position) or both directions simultaneously to secure their investment. These modifications give users more flexibility in the way they trade.
A new way of investing is now available on Binance Futures – the trading platform for derivatives on the Binance exchange. The premiere in the mobile version will take place “at a later date”.
“The contract is settled in BTC and expires on the last Friday of the given three-month period. The BTCUSD quarterly forward contract is designated “BTCUSD Quarterly 0925”, which means that the expiry date is September 25, 2020. “
– written in the advertisement.
In addition, users will not pay Maker commission for 30 days, and the Taker commission will be only 0.02%. The promotion is valid from June 11 to July 10.
The main difference between the new contract and perpetual contracts that were previously available in Binance Futures is the pre-set expiration date.
Bitcoin-derived instruments are gaining popularity
The bitcoin derivative market is in the spotlight and more and more exchanges offer various financial products related to the oldest cryptocurrency. According to monthly commercial report Binance Futures, only on their platform the volume of trading in contracts has been increasing for four consecutive months.
In May, it amounted to 137 billion dollars, which is 37% more than in April. After halving, however, it began to fall, because the price of bitcoin consolidated in a relatively narrow range. At the same time, interest in cryptocurrency increased, suggesting that at this time market participants expected greater volatility.
Still, after the last halving, the oldest cryptocurrency has achieved very good results. Its price has risen from around $ 8,850 to $ 9,800, an increase of around 10.7%.