(Rejected 2) The Binance Futures Platform Seen to Record Huge 85% Across Perpetual Contract Markets Each Month

The year 2019 seems to be a great period in blockchain and cryptocurrency field particularly in terms of an array of recorded growth in the derivatives market. The quantity and accessibility of cryptocurrency derivatives have seen the space record some gigantic figures according to data and statistics being generated on a daily basis.

According to a report by citing the recent edition of Binance Research for the recently concluded month of January, the volume alone on Binance Futures recorded a massive growth rate of 85% month-on-month, seeing a whopping $56 billion being traded across its perpetual contract markets. The report also collated results of a stagnant growth on Bitcoin dominance from September 2019 till Jan 2020.

Source: Binance.com, Binance Research.

In Addition to this on the 14th of January-2020, the platform sets more records at the higher end of its single-day traded volumes. The recorded volume for that day stood at an astonishing $3.5 billion worth of perpetual contracts being traded as the crypto markets witnessed a form of a surge in both price movement and traders action.

The research reports also stated that during the past month Binance Futures shows a whooping daily average of $1.7 billion worth of traded contracts. It should also be noted that Binance Futures saw a spike in its open interest as well. Open interest touched the $200 million mark and continues to successfully consolidate on it ever since.

From the start of the year, Binance Futures Open Interest jumped from $137 million to $271 million as of 31st of January-2020 which clearly shows an overall increase of 98% being recorded.

Also, Open interest across Altcoins perpetual markets on Binance’s platform have collectively seen an upward trend from under 20 million USDT on 1st of January to a staggering 75 million USDT. This clearly shows an expansion of over 250% in a single month.