A Binance team member has reported that the trading volume of BTC futures on this platform has reached an astounding figure of 16,000 Bitcoin (that’s around $134 mln) in just one hour. This makes Binance a platform with the fourth biggest volume in this line of crypto trading.
The Binance executive recalls that it has been almost a month since the platform kicked off its BTC futures trading (13 September). Now, it is competing with Bakkt and BitMEX in this area of crypto trading.
16k BTC in 1 hour! 4th highest volume in the crypto futures industry (not even 1 month old!), the lowest taker fees, and the best matching engine. 0 outages, 0 ADLs. Experience the hype #binance_futures pic.twitter.com/hqvNtDgAPL— AG (@AG_Binance) October 11, 2019
Not long ago, the Binance futures platform faced a malicious attack. However, later it proved to be an accident and CZ of Binance took to his Twitter account to calm traders down, as was reported by U.Today.
In its report, Binance has called the weak BTC futures release on Bakkt one of actual reasons for the recent crypto market collapse, when Bitcoin dropped over $1,000 within a few hours.
However, the Binance team remains optimistic about its Bakkt rival.
Do you think Binance will manage to overcome BitMEX in the field of Bitcoin futures trading? Feel free to tell us in the comments below!