Follow Us @
Binance breaks record in Bitcoin futures contracts
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
This Friday (15), Binance reached an unprecedented milestone in the Bitcoin (BTC) futures contract market. According to data from analytics firm CryptoQuant, the cumulative volume of BTC/USDT futures on centralized exchanges has reached $129 billion, with Binance accounting for $50.2 billion of that total.
The Bitcoin futures market grew at a time of high volatility, due to the fact that the price of BTC registered a large upward rally that took the asset from US$65,000 and led to a new all-time high of US$93,500.
According to data from CryptoQuant, this movement is also related to massive capital inflows into Bitcoin ETFs, which, according to SosoValue, accumulated around US$2 billion this week alone.
Speculative interest in Bitcoin futures contracts has been increasing significantly. This type of instrument allows traders to place bets on the future price of digital currency, which intensifies the liquidity and depth of the market. However, this increased activity can also increase volatility, creating abrupt swings in the asset’s price.
Binance breaks record
Analyst Crazzyblockk, from CryptoQuant, highlighted that the BTC/USDT pair reached “exceptionally hot” operating levels. The record volume registered by Binance highlights the exchange’s leading role in the derivatives market as well. The company currently leads the Bitcoin spot trading market.
However, for experts, a heated futures market, combined with a sharp appreciation of BTC, could generate setbacks in the short term. Therefore, caution is needed.
“The recent rise in the price of Bitcoin occurs against a backdrop of optimism driven by institutional adoption and the approval of financial products based on cryptocurrency. Furthermore, the market is observing the growing participation of institutional traders, who are looking for new forms of exposure to BTC through futures contracts”, highlights CryptoQuant.
Binance breaks record in Bitcoin futures contracts
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Binance breaks record in Bitcoin futures contracts
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Binance breaks record in Bitcoin futures contracts
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Binance breaks record in Bitcoin futures contracts
