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Binance, arguably the largest cryptocurrency exchange in the world, is in the news after announcing the launch of four more Coin Margin Futures products on Binance Futures. The products launched are XRPUSD, LTCUSD, EOSUSD, BCHUSD Quarterly 1225 and 0326 Coin-marginined.
XRPUSD Quarterly 1225 and 0326 coin margin contracts started today at 9:00 AM (UTC), with the rest of the deals opening early next month.
Similar to previous leverage offers for these contracts, users will be able to select between 1 and 75 times the leverage on these contracts.
The currency margin contracts use the core assets, in this case, XRP, LTC, EOS and BCH as collateral. Features such as shared margin and custom margin modes (Cross & Isolated) allow arbitrageurs and sophisticated traders to efficiently manage their margin and P&L, thus making it an ideal product for long-term traders, arbitrageurs and hedgers.
It should be noted that Binance had launched similar products earlier this year. At the time, the exchange had announced ADA and LINK Coin Margin Futures. It was around the same time that BitMEX revealed the plans to launch Quanto Futures for LINK, ADA, EOS and Tezos [XTZ].
Source: Skew
However, this isn’t the first development Binance has been a part of recently. In fact, according to Skew data, the exchange has captured the market share of not only BitMEX but also Huobi and OKEx, with Binance having the highest 24-Hour Futures volumes by a sizeable amount.
In fact, just under a week ago, Binance’s trading volume hit an all-time high (ATH) of over $ 37 billion in a single day, following a rally in the largest cryptocurrency market.
