The world’s largest exchange Binance announced that the trading volume on the cryptocurrency derivatives platform has reached the $1 trillion mark over the past year.
According to data aggregator CryptoCompare, volume on Binance Futures grew 74% in August compared to July ($184.6 billion in trading volume). According to CoinGecko and CoinMarketCap, Binance has the highest daily volume of Bitcoin futures trading.
Market research shows that volumes in the first and second quarters of 2020 exceeded $2 trillion each quarter, with volumes in the second quarter of 2020 increasing 165% over the same period last year.
This indicates an accelerating growth rate in global cryptocurrency derivatives trading.Binance Futures was launched in September 2019. The platform allows experienced users to trade crypto futures contracts with up to 125x leverage. Binance Futures is currently hosting an anniversary trading tournament that will draw up to $1.6 million in BNB tokens.