According to the data from Skew, Binance Futures now has the most liquid Bitcoin perpetual swap contract.
Binance Futures, the futures exchange arm of Binance, launched in September 2019.
It has become one of the largest futures exchanges alongside OKEx and CME Bitcoin futures.
Binance Futures already the biggest Bitcoin futures exchange in volume.
In cumulative daily volume, Binance Futures is already the largest Bitcoin futures exchange.
Second, the exchange has integrated many alternative cryptocurrencies onto its futures platform apart from Bitcoin.
That means the total daily volume of the entire futures exchange is much larger than its Bitcoin futures volume.
The abrupt halting of withdrawals at OKEx, the probe against BitMEX, and the uncertainty around major exchanges led to an overall rise in demand for Binance Futures.
It was not long ago when BitMEX was the most dominant player in the Bitcoin futures market.
Bitcoin futures specifically recorded a substantial increase in volume as it continuously outperformed alternative cryptocurrencies.
Binance Futures surpasses BitMEX, becomes most liquid Bitcoin perpetual swap
Published on Oct 30, 2020
by Cryptoslate | Published on Coinage
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