Continuing Its Crypto Market Takeover, Binance Fires Up BNB Futures

Crypto exchange unicorn Binance will launch Binance Coin futures trading on Feb. 10.As the 17th cryptocurrency available on Binance's futures trading branch, BNB comes with 50x leverage, paired against Tether's USDT stablecoin, Binance detailed in a Feb. 7 press release provided to Cointelegraph.

BNB pumped with the rest of the marketBinance's BNB coin has already rallied several dollars this month, hitting a price of $22.16 by press time.

Cointelegraph analyst and trader Keith Wareing sees upcoming demand for the BNB asset itself.

Digital asset trader and social media personality Crypto Dog suggested it was pro-BNB in a Feb. 7 tweet, saying, "Anybody else like BNB?" The crypto-Twitter crowd posted a mixed bag of positive and negative reviews in response.

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, funneling millions of dollars in volume through its Binance Launchpad for various initial exchange offerings, or IEOs.

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 grown its futures trading platform, hosting Bitcoin futures with 125x leverage, which is substantively faster than others.

This new offering comes on the heels of releasing Zcash futures trading earlier this week.