The daily volume on Binance Futures has exploded in the past few days. On Saturday, it hit close to $2.5B, and this may soon prove to be the new normal.
Two weeks ago, BeInCrypto reported that Binance Futures was posting around $700M in daily volume. It was a ‘record’ then for the new futures platform. However, the recent volume metrics put these numbers to shame.
Binance Eyes Over $2B Volume on Futures Exchange
On Saturday, Binance futures posted almost $2.5B in volume. That is well over 3x what was the record just two weeks ago. Although the daily volume has since dipped a bit, it still boasted a whipping $1.5B the following day. Now, it seems likely that the exchange will be able to pull off more than $2B volume again—which may soon become the new normal for Binance.The spike in volume is likely due to Bitcoin’s own explosive rise. The leading cryptocurrency posted the greatest daily gain since it was just $10. Of course, Bitcoin’s price explosion brought with it an uptick in trading volume across the board. Binance Futures, however, seemed to be one of the clear winners and has been posting record volume has of late.Binance futures – new record on saturday – north of $2bln going through pic.twitter.com/IfUE4naoyC
— skew (@skewdotcom) October 28, 2019
Bakkt Gets a Boost
However, Binance Futures is not the only exchange breaking records. Bakkt has also been on fire recently and posted yet another all-time high in trading volume a few days ago. The Bitcoin price spike led to Bakkt’s futures trading volume doubling to $4.8M.
Images are courtesy of Twitter, Shutterstock.
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Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital...
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital...
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