Binance futures trading is hitting all-time highs. Now, to further facilitate trading, the leading exchange has updated its mobile application. This update allows users to increase their trading position at up to 125:1 leverage.
Futures Trading Hits All-Time Highs
On October 18, 2019, despite Bitcoin’s recent price trend, the leading cryptocurrency exchange Binance reported that Binance futures daily volume were skyrocketing.
Most recently, on October 26, 2019, Director of Binance Futures, Aaron Gong, reported that a new high had been reached of 315,000 BTC, traded in 24H volume. This amount represents about $3 billion worth.
https://twitter.com/AG_Binance/status/1188098574136958977
Now, the cryptocurrency exchange is enhancing traders’ experience by launching futures trading on an Android app. Indeed, Gong indicates that the launch of the Android app was based on community requests. According to the official announcement,
The Binance mobile app provides users with 24/7 multi-language customer support, and a safe and easy-to-use platform to buy and trade cryptocurrencies on mobile. In addition to futures, the Binance app also supports spot and margin trading across a wide range of trading pairs.
Thus, besides Bitcoin, the new mobile app allows trading several cryptocurrencies pairings, including Bitcoin Cash (BCHABC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and several other pairs.
Notice, however, that to improve liquidity Binance will no longer trade the following pairs: ATOM/PAX, BTS/BNB, CVC/BNB, ETC/PAX, REP/BNB. This measure will take effect on November 11, 2019, at 8:00 AM (UTC).
Moreover, Gong announced that the leading crypto exchange would also make futures trading on iOS available too in the near future.
Institutional Investors ‘Are Flocking to Binance Futures.’
Financial institutions continue to stream into the crypto market a variety of Bitcoin-based financial instruments.
This trend was kicked off when CBOE Bitcoin futures trading started on December 10, 2017.
Nowadays, institutional investors are becoming more active in the crypto market. In this regard, the CEO of Binance Changpeng Zhao stated,
We have seen an increase in institutional participation in trading, and these professional traders seek out the most efficient ways to trade very quickly, both in terms of cost and performance. And they are flocking to Binance Futures.
What do you think about Bitcoin futures trading on Binance’s Android app? Let us know in the comments below!
Images via Shutterstock, Twitter: @AG_Binance
