News: Binance Bitcoin Futures Debuts with $170M Trading




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https://www.newsbtc.com/?s=Binance%20Bitcoin%20Futures%20Debuts%20with%20%24170M%20Trading

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Transcript:

0:00:00 Binance Bitcoin Futures Debuts with $170M Trading

0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:11 Binance has launched a new futures platform, where speculators can bet on bitcoin price going down or up, after announcing it earlier this year.

0:00:19 And service is already witnessing trading volumes worth hundreds of millions of dollars.

0:00:24 Data analytics firm Skew tweeted a 24-hour trade report of bitcoin futures, showing Binance processing about $170 million worth of trades on the day of its debut.

0:00:35 The figures almost matched the volumes recorded following Binance Futures beta launch.

0:00:40 The Malta exchange noticed about $150 million worth of futures transactions across the two test phases, which prompted it to go full-fledged on Friday, with a special gift attached.

0:00:52 “In order to show our appreciation for your continued support towards Binance Futures, all users will receive a 50% discount on trading fees when trading on Binance Futures for the first 3 months after the go-live date,” said Binance in its blog post published Thursday.

0:01:07 The exchange further stated that users that participated in the Battle for Binance Futures competition and voted for Futures A would enjoy a further discount.

0:01:16 It would equate to a total 75 percent trading fee discount on Binance Futures for a month from 2019/09/16 00:00 AM to 2019/10/15 23:59 PM.

0:01:28 Fees on the Binance Futures will be paid in BNB, a native utility token on Binance exchange.

0:01:34 The team announced that it would burn 20 percent of the income it makes from its Futures platform as a part of an existing practice.

0:01:41 The quarterly move would take a portion of BNB tokens out of supply.

0:01:45 That means, assuming Binance Futures would make profits, Binance will now burn more of its native asset.

0:01:51 Thanks for checking this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.

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COMMENTS (2)

  • comment-avatar
    probinabti1971 September 14, 2019

    I think I’m crying. It’s that beastly.

  • comment-avatar
    stanhalconsschul1988 September 14, 2019

    Can’t wait to watch next video.