By owais ahmad
On Sep 12, 2020
Cryptocurrency exchange Binance’s futures trading platform, Binance Futures, has just increased leverage up to 125 times from 20 times earlier.
Announcing the news on Friday, Binance said traders can now select any leverage from 1x to 125x for its bitcoin (BTC)/ tether (USDT) futures contracts. At the maximum leverage of 125x, a 100 USDT collateral deposit will allow users to hold 12,500 USDT in BTC.
Binance CEO Changpeng Zhao “CZ” said that the move has been taken due to an increase in institutional participation, adding: “These professional traders seek out the most efficient ways to trade very quickly, both in terms of cost and performance.”
Binance Futures went live last month and is already ranked at number 2 in terms of trading volumes, just after BitMEX, CZ said yesterday in a blog post. He added that the futures trading platform has recorded higher volumes than the Binance spot market, and that Binance expects its performance to continue for Q4.
“In Q4 of this year, we will roll out new major features that address community feedback, including several developments to improve the user experience,” said Aaron Gong, director of Binance Futures, in today’s announcement.
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