Cryptocurrency Derivatives Series: Binance Makes Crypto-Futures Contracts Trading Announcements

The world’s leading cryptocurrency exchange firm by trading volume, Binance, is intending to enable futures trading.

In a presentation at the Asia Blockchain Summit in Taipei today, Changpeng Zhao, the founder, and CEO of the exchange divulges the latest announcement on the stage. 

Zhao just announced that #Binance to offer futures contracts in his keynote at the @asia blockchain summit.

Thanks to Year-2019 that has been instrumental for bitcoin miners, exchanges, traders and investors, BTCUSD price surged from the lows of 3122 to the recent highs of 13880 levels (i.e. mammoth returns of 344 in percentage terms that too within a span of 6 months or so).

Thereafter, the pair is sliding despite registering its most profitable quarter performance since December 2017. It is currently trading shy below $10k levels, the slump of more than 8.7% on a weekly adjusted timeframe. Such slumps dragged the bitcoin’s market capitalization close to $175.62 billion. 

Amid such price turbulence, we’ve witnessed quite a few recent developments in the cryptocurrency derivatives segment, the Commodity Futures Trading Commission (CFTC) cleared Bitcoin derivatives provider LedgerX to offer physically settled Bitcoin futures and given license to ErisX for derivatives clearing organization (DCO). While Bakkt is likely to test its BTC futures trading on 22ndof this month.

For now, in Asia Blockchain summit for two days scheduled on June 2ndand 3rdJuly, the announcement spurred that “Binance would offer a futures trading interface on Binance platform with trading facilities including longs and shorts on crypto-assets.

Currency strength index: FxWirePro's hourly BTC is flashing at -108 (highly bearish), hourly USD spot index was at 79 (highly bullish) while articulating (at 07:34 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex