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Bitcoin Futures Show $134 Mln Trade Volume in One Hour on Binance

  • Yuri Molchan
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    A Binance team member spreads the word on Twitter that the volume of BTC futures trade on the digital platform has reached 16,000 Bitcoin in just one hour

Bitcoin Futures Show $134 Mln Trade Volume in One Hour on Binance
Cover image via www.123rf.com

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.

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.

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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!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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