Binance will launch its own futures platform called Binance Futures in the coming months. This is what The Block writes with reference to the statement made by CEO Binance Chungpen Zhao during the Asian Blockchain Summit in Taipei.
According to Zhao, the platform will initially support BTC/USDT pair futures with a leverage limit of up to x20. It is assumed that over time the range of supported assets will be expanded and the leverage will be increased.
"Binance is about to launch a futures platform. I don't have the exact date. The simulation in the test version will be launched within a few weeks," said Zhao.
Earlier, Binance strategy director Jin Chao said that the company plans to realize a margin trading opportunity with a leverage of more than x5, but less than x100.
Also, the Bitfinex exchange intends to present its own derivatives, which it has recently carried out a major upgrade in preparation for the launch. It is expected that in its case the limit of the leverage limit will be x100.
Binance has recently joined the list of cryptocurrency exchanges that provide its clients with the opportunity to trade on margin. According to a representative of the press service of Binance, the full launch of marginal trade is scheduled for about July 11.
What do you think is it good to have futures contracts? or its bad for crypto world? and what about shoulder ?