Binance, arguably the world’s biggest crypto-exchange, is in the news after it announced the launch of four more Coin-margined Futures products on Binance Futures. The products being launched are XRPUSD, LTCUSD, EOSUSD, BCHUSD Quarterly 1225 & 0326 Coin-margined contracts.
The XRPUSD Quarterly 1225 & 0326 Coin-margined contracts began trading at 9:00 AM (UTC) today, while the rest of the offerings will open for trading early next month.
Similar to previous leverage offerings for these contracts, users will be able to select between 1-75x leverage on these contracts.
Coin-margined contracts use the base assets, in this case, XRP, LTC, EOS, and BCH as collateral. Functions such as shared margin and customized 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. Back then, the exchange had announced ADA and LINK Coin-margined Futures. This was around the same time as when BitMEX revealed plans to launch Quanto Futures for LINK, ADA, EOS, and Tezos [XTZ].
Source: Skew
This isn’t the first development Binance has been part of recently, however. In fact, according to data from Skew, 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 considerable amount.
In fact, just under a week ago, Binance’s trading volume touched an all-time high (ATH) of over $37 billion in a single day, following a rally in the larger crypto-market.