Crypto exchange unicorn Binance launches Binance Coin (BNB) futures on February. 10.
As the 17th cryptocurrency available in the futures trading department of Binance, BNB comes with 50x leverage, linked to Tether’s USDT stablecoin, Binance detailed in a February. 7 press release.
Binance’s BNB currency has already collected several dollars this month and reached a rate of $ 22.16 per press time. Analyst and trader Keith Wareing sees the emerging demand for the BNB asset itself.
“Looking at trading volumes on Binance, it’s clear that they don’t have to sell any of their s *** coins for income,” Wareing said in a Telegram message, adding:
“As such, their position as one of the most trusted and secure stock exchanges in space is guaranteed to increase demand for the BNB token during the upcoming bull run, so I expect it to outperform all other top 10 assets such as the Bitcoin bull runs on. “
Digital asset and social media personality trader Crypto Dog suggested it was pro-BNB in February. 7 tweet, saying: “Is there anyone else like BNB?” The crypto-Twitter crowd posted a mixed bag of positive and negative reviews in response.
Binance quickly became popular after the launch of 2017. In the summer of 2018, trade revenue was more than $ 1 billion. Shortly thereafter, Binance collected a $ 78 million profit in the first quarter of 2019.
The company continued its expansion in the first half of 2019 and pulled millions of dollars in volume through its Binance Launchpad for various initial exchange offers or IEOs.
However, a few months prior to the launch of its futures trading platform, Binance banned the US from customers. Since the ban, the stock market has grown a US branch, as has its futures trading platform, hosting Bitcoin futures with 125x leverage, which is faster in content than others.
This new offering comes after the release of Zcash (ZEC) futures trading earlier this week.