Our Futures is in your hands! https://t.co/BNxjUHiULH
— CZ BINANCE (@cz_binance) September 2, 2019
Now, it’s also worth noting that during the past couple of months Binance introduced a few other interesting products. First back in July, the exchange enabled margin trading for its users which allows them to use leverage on different cryptocurrency trading pairs.
Second, just a few days ago, Binance also launched the so-called Binance Lending feature. This allows users to lend their crypto, namely Binance Coin, Tether (USDT), and Ethereum Classic (ETC) for a certain preset amount of time in exchange for an annualized interest rate.
Competition For BitMEX?
As of yet, BitMEX is one, if not the most popular Bitcoin margin trading platform which allows users to use up to 100x leverage on certain perpetual contracts.
With Binance stepping into the field of futures and derivatives, however, things might get a bit more challenging for BitMEX.
Moreover, BITMEX has been involved in a CFTC probe since July, which has caused some issues for the exchange. Nevertheless, data from TokenAnalyst shows that the BTC inflows in BitMEX over the past 30 days are around 26%, while those in Binance are around 19%.
Still, it remains very interesting to see how this new acquisition will impact the market if it will at all.
