Exponential Growth at Market Leading Derivatives Exchange in First Year
23 September 2020, 11:00 UTC - Binance, the global blockchain company behind the world’s largest digital asset exchange, today announced its cryptocurrency derivatives platform has transacted $1 trillion in year-to-date volume. Binance Futures started a year ago in September 2019, and has rapidly grown into a market leader.
“The story of Binance becoming the world’s largest crypto exchange through our spot trading volume in our first year is one that we strived hard for. We are grateful that our Futures exchange has also been well-received by our users. We applied what worked for us in spot trading with Futures, ensuring platform stability, product innovation, excellent user-friendly interface and user support. We will continue to provide the community with the most engaging experience. User-centricity remains at the core across the entire Binance ecosystem,” said Changpeng Zhao (CZ), Founder and CEO of Binance.
Binance Futures saw a month-on-month increase of 74% in August ($184.6bn in volume), according to third-party data aggregator CryptoCompare. Binance also holds the highest daily bitcoin futures trading volume according to CoinGecko and CoinMarketCap.
“We took Binance’s user-first creed to heart and built a robust foundation to support the community’s growth. We invested in an unparalleled matching engine that has proven itself time and again, and we focused our initial development in our first product to ensure we get it right. We now have 90 products across four product lines, to meet user demand for greater diversification. Binance Futures offers a wide selection of altcoin products, including Coin-margined and USDT-margined futures, options, and our innovative Binance Leveraged Tokens. Altcoins account for about 40% of our volume,” said Aaron Gong, VP of Binance Futures.
Market research by TokenInsight shows Q1 2020 and Q2 2020 both exceeded $2 trillion in volume each, with Q2 2020 volumes increasing 165% YoY over Q2 2019, indicating an acceleration in global crypto derivatives trading.
Binance Futures is currently hosting its anniversary trading tournament to mark its first year, with a dynamic prize pool of up to $1,600,000 in BNB tokens. For more information visit: https://www.binance.com/en/futures/activity/anniversary-competition