The BINANCE Futures cryptocurrency derivatives platform continues to gain in popularity as more and more retail customers show increased interest.
Open interest on the platform hit an all-time high of over $ 10 billion on Saturday, according to data source CoinGecko, up nearly 3,900% year over year. The surge in open interest or the value of derivatives that are traded but not settled through offsetting positions reflects an increase in the flow of money into the market.
Analysts regard Binance as synonymous with retail traders. In their February 26 newsletter, Glassnode founders Jan Happel and Jann Allemann cited the increase in registrations on Binance over US-regulated COINBASE as evidence of increased retail customer engagement.
Binance Futures was launched in September 2019 with a single USDT-margined perpetual Bitcoin futures contract. Since then, the derivatives platform has expanded its product portfolio to over 180 pairs - 107 USDT or Binance USD (BUSD) margin futures contracts, 34 coin margin futures, 36 Binance leveraged tokens and six options, the exchange official said.
Binance is the largest open-interest bitcoin futures exchange at press time, generating $ 4.33 billion, or 18.44% of the $ 23.48 worldwide, according to data provided by research firm Skew.
