Binance Futures Daily Trading Volume Over $150M in Invite-Only Mode
Ana Alexandre's original article for cointelegraph.com reduced by 79%
The 24-hour trading volume of major cryptocurrency exchange Binance's futures markets has exceeded $150 million denominated in Tether. On Sept. 10, a Reddit user published their findings on Binance's futures markets performance.
Over the past 24 hours of trading, the figures reached notable volumes in the Bitcoin/USDT pairing, bringing the daily trading volume to over $151 million in USDT.Closed testing modeBinance initially launched two futures testnet platforms named Futures A and Futures B on Sept. 2, inviting users to participate in a 10,000 Binance Coin trading competition. During the competition, Binance said it would provide all participants with 100,000 USDT tokens in simulated funds on both Binance futures platforms, for testing purposes only.
Following the platform's launch, the team at Seychelles-registered crypto exchange BitMEX accused Binance of plagiarizing BitMEX documents as part of its futures testnet launch. BitMEX' post included screenshots of Binance's overview of the Auto Deleveraging system for its new futures contracts, in which the text is practically identical to that of BitMEX.Binance comes in for criticismSubsequently, on Sept. 6, Binance took some heat as the Twitter account known as doublejump said both the options currently under consideration by Binance lacked essential features.
Per the exchange's recent announcement, Binance's United States branch Binance.
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