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Cryptocurrency Derivatives Series: Binance Making Abuzz With XRP-BF2 Listing and Mounting Volumes of BTC Futures

Binance DEX, the decentralized exchange driven by the Binance-Chain blockchain, today announced its listing of XRP (XRP-BF2). Backed by real XRP assets and issued on Binance Chain, XRP-BF2 is a token pegged to ripple (XRP) value and tradeable on Binance DEX, allowing DEX users to exchange relentlessly more coins and tokens with full custody over their funds and wallets.

Issuing XRP-BF2 on Binance DEX will solidify a bridge for users to convert easily between XRP and XRP-BF2 through deposits and withdrawals. More swap channels are expected to be available on partner wallets soon. As of October 10, 2019, an XRP/BNB trading pair is open on Binance DEX and available for trading.

Binance Futures has hit a record trading volumes of 16K BTC in an hour. Notably, Binance Futures is just in its infant stage, and Binance AG twitted the record volume which happens to be the 4th highest in the crypto futures industry.

We’ve reported that Binance’s Bitcoin Futures platform is observed to have made incredible gains within the first few days of its launching. In fact, the platform has outperformed the Binance.com spot market in terms of BTC trading volume within the last 24 hours. The 24-hour trading volume of Binance’s futures markets was seen to have crossed 30,500 BTC. Denominated in USDT, the equivalent of this would come to over $250 MM. Further, the figures were also said to have exceeded those of Binance spot trading which recorded a relatively lower 24-hour trading volume of 219,868,241 million denominated in USDT.

By Niranjan Patil
  • Market Data
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