The world’s leading cryptocurrency exchange, Binance, has launched its very first futures contract with a quarterly expiration date. The contract is already available in its derivatives trading interface – Binance Futures.
Binance has officially launched its very first cryptocurrency futures contract that has a preset expiration date. It’s a quarterly BTCUSD futures contract that traders can engage with a leverage of up to 125x.
The new contract is already available in the exchange’s derivatives trading platform – Binance Futures, but the release on the mobile version will come “at a later date.”
“The contract is settled in the denominated BTC asset and will expire on the last Friday of the corresponding three-month period. The BTCUSD quarterly futures contract is labeled “BTCUSD Quarterly 0925”, indicating that the expiration date is set for 2020/09/25 8:00 AM UTC.” – Reads the announcement.
Additionally, users will receive a 30-days maker fee rebate and pay 0.020% in taker fees when trading this contract from June 11th until July 10th.
The main difference of the new contract with the perpetual ones already available on Binance Futures is the preset expiration date.
At this point, it’s clear that the market for bitcoin derivatives has taken the spotlight as more and more exchanges offer a variety of products in the field. According to the monthly trading report of Binance Futures, on their platform alone, the volume has been growing for four consecutive months.
In May alone, the exchange saw $137 billion in volume, which is 37% more than April. Yet, the trading volumes declined following the halving as Bitcoin’s price was consolidating in a relatively narrow range.
At the same time, the open interest increased after the halving, which suggested, at the time, that market participants were expecting more volatility coming in.
Still, Bitcoin performed very well after the halving. Its price increased from around $8,850 to where it’s currently trading at $9,800, charting gains of about 10.7%.