Binance's futures exchange is raising leverage to 125x with the launch of bitcoin/tether contracts today.
The cryptocurrency exchange first announced its futures platform in early July, at the time hinting it would allow 20x leverage.
Now, futures traders can now choose leveraged positions between 1x and 125x, it said Friday.
"We have seen an increase in institutional participation in trading And they are flocking to Binance Futures," said Binance CEO Changpeng "CZ" Zhao in a statement.
Max leverage positions on Binance now exceed crypto exchange BitMEX's futures leverage positions, which top off at 100x for some contracts.
Binance said its BTC futures contract provides a built-in hedging tool to help traders manage that risk.
Further, the exchange said it's providing an "Insurance fund" that "Helps to limit the chances of auto-deleverage."
The announcement comes amidst tightening competition in the bitcoin futures space.
Intercontinental Exchange's Bakkt bitcoin futures exchange launched this September.
Although the exchange's initial volume disappointed critics, the exchange has already conducted its first block trade for two institutional investors.
Binance Hikes Leverage to 125x for Launch of Bitcoin-Tether Futures
gepubliceerd op Oct 18, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.