Feb 10th, 2020 was the day the worldwide giant of an exchange (Binance) launched futures trading on its native token BNB Binance coin.
Feb 10th, 2020 was the day the worldwide giant of an exchange (Binance) launched futures trading on its native token BNB Binance coin.
The future is brighter and brighter -- and Binance seems to be leading the way.
For those who trade futures, and even those who don’t trade much, this is a big deal. BNB will offer 50x leverage, it’ll be paired to trade with USDT -- Tether’s famous stablecoin -- and more.
For those of us who keep up with trends and market movements in crypto -- BNB has been enjoying a healthy rally. Throughout January and February, the price has been on a rollercoaster ride upwards -- with famous analyst “crypto dog” commenting on its rise.
Another famous analyst and trader called Keith Wareing is also quick to point out that BNB might even become a new asset.
“Looking at trading volumes on Binance, it’s clear they don’t have to sell any of their s***coin for revenue,” Wareing said in a Telegram message, adding:
“As such, during the forthcoming bull run, their position as one as one of the most trusted and secure exchanges in the space guarantees to add demand to the BNB token, so I expect it to outperform all other top 10 assets if the Bitcoin bull run continues.”
From A Simple Exchange to Binance Futures
Binance’s origins trace back to its launch in 2017. Those were incredible days in the cryptosphere. Binance quickly shot up in popularity and just halfway through 2018, the exchange processed over $1 billion in trading volume every single day. This meteoric rise helped Binance generate $78 million of profit in 2019’s first quarter alone.
The largest hiccup they’ve had was when the SEC came knocking on their door. The SEC caused quite a bit of trouble for Binance -- since Binance was letting U.S. customers buy cryptocurrencies which the SEC deemed “securities” and therefore available for trading only to certain accredited investors.
Binance’s solution was to ban U.S. customers. This put a dent in their revenue -- but it also inspired them to launch BinanceUS -- a separate exchange specifically for Binance customers. These days Binanance’s futures trading platform allows trading with 125x leverage and trading with privacy coins such as Zcash (ZEC) futures trading as well.
The future is brighter and brighter -- and Binance seems to be leading the way.
