There are 565 perpetuals running on Binance Futures, but only 38 are USDC-denominated. That’s 6.7% of them, yet they account for 14.9% of trading volume over the past 24 hours.
The figures come from Binance Futures’ public API, captured this morning at 9:06. All perpetuals traded $34.16 billion in 24 hours, while the USDC side traded $5.08 billion—a more than twofold gap between their share of contracts and their share of volume. The parameters are from Binance’s announcements, and the trading volumes are from the futures API; both sets of figures check out.
Let’s break that down further. Of the $5.08 billion, BTCUSDC accounts for $2.48 billion and ETHUSDC for $1.92 billion. Together, they make up 86.7%, leaving $680 million shared among the other 36 USDC contracts. Most of the weight rests on those two heavyweights.
The two new contracts being added next week follow the same pattern. HYPEUSDC is scheduled for November 16 at 16:30, and TRXUSDC for 16:35 that day. Both offer 75x leverage, 24/7 trading, a minimum notional value of 5 USDC, and BTC as collateral in multi-assets mode. The announcement also notes that the launch date was moved from November 11 to the 16th, a five-day delay.
The two contracts get different terms. HYPE’s funding fee is settled every 4 hours, with a 2.00% range; TRX’s is settled every 8 hours, with a 0.4875% range—a difference of more than fourfold. This allocation follows liquidity: HYPEUSDT traded $459 million over the past 24 hours, while TRXUSDT traded just $26.25 million, a 17-fold difference.
The most interesting point is the settlement currency. USDC accounts for nearly 15% of futures trading volume, supported by BTC and ETH, while the other 36 contracts make up just 13%. Whether that structure can change depends on whether anyone is willing to use USDC to trade smaller tokens; it doesn’t matter how long the announcement is.
#中本聪国际社区Baoluo币商资本 #币安推出BinanceIntelligence #Bitcoin
The figures come from Binance Futures’ public API, captured this morning at 9:06. All perpetuals traded $34.16 billion in 24 hours, while the USDC side traded $5.08 billion—a more than twofold gap between their share of contracts and their share of volume. The parameters are from Binance’s announcements, and the trading volumes are from the futures API; both sets of figures check out.
Let’s break that down further. Of the $5.08 billion, BTCUSDC accounts for $2.48 billion and ETHUSDC for $1.92 billion. Together, they make up 86.7%, leaving $680 million shared among the other 36 USDC contracts. Most of the weight rests on those two heavyweights.
The two new contracts being added next week follow the same pattern. HYPEUSDC is scheduled for November 16 at 16:30, and TRXUSDC for 16:35 that day. Both offer 75x leverage, 24/7 trading, a minimum notional value of 5 USDC, and BTC as collateral in multi-assets mode. The announcement also notes that the launch date was moved from November 11 to the 16th, a five-day delay.
The two contracts get different terms. HYPE’s funding fee is settled every 4 hours, with a 2.00% range; TRX’s is settled every 8 hours, with a 0.4875% range—a difference of more than fourfold. This allocation follows liquidity: HYPEUSDT traded $459 million over the past 24 hours, while TRXUSDT traded just $26.25 million, a 17-fold difference.
The most interesting point is the settlement currency. USDC accounts for nearly 15% of futures trading volume, supported by BTC and ETH, while the other 36 contracts make up just 13%. Whether that structure can change depends on whether anyone is willing to use USDC to trade smaller tokens; it doesn’t matter how long the announcement is.
#中本聪国际社区Baoluo币商资本 #币安推出BinanceIntelligence #Bitcoin