Binance's combined COIN- and USDT-margined futures volume hit a daily all-time-high of $13 billion last week.
Cryptocurrency exchange giant Binance is announcing today the launch of COIN- and USDT- Margined product categories for its range of perpetual and quarterly futures. The company said in a statement that the new product categories are designed to “highlight the use of Bitcoin and altcoins as the currencies for settlement.”
In other words, the new categorization aims to set Cryptocurrencies on equal ground with fiat currencies. This is a move that the firm says reflects a heightened interest in futures that are “margined and settle with Bitcoin and altcoins.”
Indeed, Changpeng Zhao, the chief executive of Binance, said in a statement that the new categorization follows the fact that “our combined COIN- and USDT-margined futures volume hit a daily all-time-high of $13 billion last week.”
According to the announcement, users on Binance Futures can now select futures contracts as follows:
COIN-Margin Futures (displayed as 'COIN-Ⓜ', 'COIN-ⓜ' on the web and mobile app respectively)
Quarterly Futures
Perpetual Futures (to be launched Q3 2020)
USDT-Margin Futures (displayed as 'USDT-Ⓜ', 'USDT-ⓜ' on the web and mobile app respectively)
Perpetual Futures
COIN-Margined Contracts Are Based on Inverse Contracts, Which Work Well for Cryptocurrencies
While USDT-margined futures are similar to traditional standard futures in that they are margined and settled with a fiat currency, COIN-margined futures are instead settled with the asset itself. If a trader chooses the COIN-margined futures option, the contracts are margined and settled with the asset itself. For example, a COIN-margined Bitcoin futures contract will be settled in Bitcoin.
Binance says that these COIN-margined contracts are based on 'inverse' contracts, which are popular in crypto finance because of cryptocurrencies’ instant and fungible nature. In a more traditional financial setting, inverse contracts may be considered counterintuitive.
Indeed, Changpeng Zhao commented, “unlike with traditional markets, ‘inverse’ cryptocurrency contracts are intuitive because of the nature of digital assets.
“There are also traders who use coin-margined futures to hold cryptocurrencies for the longer term,” he added, “We should embrace these facts, as it helps strengthen our industry’s standing.”
The announcement of the new categorization closely follows the launch of a new type of options contract for Binance Coin (BNB) earlier this week. Binance Options previously listed its first BNB contract in April of this year.
Cryptocurrency exchange giant Binance is announcing today the launch of COIN- and USDT- Margined product categories for its range of perpetual and quarterly futures. The company said in a statement that the new product categories are designed to “highlight the use of Bitcoin and altcoins as the currencies for settlement.”
In other words, the new categorization aims to set Cryptocurrencies on equal ground with fiat currencies. This is a move that the firm says reflects a heightened interest in futures that are “margined and settle with Bitcoin and altcoins.”
Indeed, Changpeng Zhao, the chief executive of Binance, said in a statement that the new categorization follows the fact that “our combined COIN- and USDT-margined futures volume hit a daily all-time-high of $13 billion last week.”
According to the announcement, users on Binance Futures can now select futures contracts as follows:
COIN-Margin Futures (displayed as 'COIN-Ⓜ', 'COIN-ⓜ' on the web and mobile app respectively)
Quarterly Futures
Perpetual Futures (to be launched Q3 2020)
USDT-Margin Futures (displayed as 'USDT-Ⓜ', 'USDT-ⓜ' on the web and mobile app respectively)
Perpetual Futures
COIN-Margined Contracts Are Based on Inverse Contracts, Which Work Well for Cryptocurrencies
While USDT-margined futures are similar to traditional standard futures in that they are margined and settled with a fiat currency, COIN-margined futures are instead settled with the asset itself. If a trader chooses the COIN-margined futures option, the contracts are margined and settled with the asset itself. For example, a COIN-margined Bitcoin futures contract will be settled in Bitcoin.
Binance says that these COIN-margined contracts are based on 'inverse' contracts, which are popular in crypto finance because of cryptocurrencies’ instant and fungible nature. In a more traditional financial setting, inverse contracts may be considered counterintuitive.
Indeed, Changpeng Zhao commented, “unlike with traditional markets, ‘inverse’ cryptocurrency contracts are intuitive because of the nature of digital assets.
“There are also traders who use coin-margined futures to hold cryptocurrencies for the longer term,” he added, “We should embrace these facts, as it helps strengthen our industry’s standing.”
The announcement of the new categorization closely follows the launch of a new type of options contract for Binance Coin (BNB) earlier this week. Binance Options previously listed its first BNB contract in April of this year.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Australia Gears Up for Bitcoin ETFs: ASX Leads the Charge
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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