Binance To Launch Binance Coin (BNB) Futures Trading
Binance To Launch Binance Coin (BNB) Futures Trading
February 8, 2020
Binance To Launch Binance Coin (BNB) Futures Trading
Binance To Launch Binance Coin (BNB) Futures Trading
February 8, 2020

Binance, the major cryptocurrency exchange, will launch Binance Coin (BNB) futures trading on February 10.

On February 7, it has been reported that as the 17th cryptocurrency available on Binance’s futures trading branch, BNB comes with 50x leverage, paired against Tether’s USDT stablecoin.

However, Binance’s BNB coin has already rallied several dollars this month by hitting a price of $22.16.

Keith Wareing, the Analyst and Trader of Cointelegraph, sees upcoming demand for the BNB asset itself.

Wareing said in a Telegram message:

“Looking at trading volumes on Binance, it’s clear they don’t have to sell any of their s***coin for revenue.”

He added:

“As such, during the forthcoming bull run, their position as one as one of the most trusted and secure exchanges in the space guarantees to add demand to the BNB token, so I expect it to outperform all other top 10 assets if the Bitcoin bull run continues.”

Likewise, Crypto Dog, the Digital Asset Trader and Social Media Personality, suggested that it was pro-BNB in a February 7 tweet, saying:

“Anybody else like BNB?”

The crypto-Twitter crowd posted a mixed bag of positive and negative reviews in response.

ALSO READ :  Bloomberg Reports Bitcoin Is Preparing For A Massive Bull Run

However, Binance got popular quickly after its 2017 launch. By summer 2018, the exchange saw more than $1 billion in single day trading volume. Binance shortly after collected $78 million of profit in the first quarter of 2019.

The business continued its expansion throughout the first half of 2019 by funneling millions of dollars in volume through its Binance Launchpad for various initial exchange offerings, or IEOs.

Thus, several months prior to its futures trading platform launch, Binance banned U.S. customers. Since the ban, the exchange has opened up a U.S. branch, as well as growing its futures trading platform by hosting Bitcoin futures with 125x leverage, which is substantively faster than others.

Source: cointelegraph.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!