Ethereum
$351.44 3.08%
ETH · 7w

Binance Reports Uptick in ETH, BTC and Futures Trading in July

Cryptocurrency exchange Binance has today published a report on the exchange’s trading volumes during the month of July, revealing an overall monthly increase across the board.

Futures contracts on Binance generated positive returns, the exchange said in its statement today, with the top 10 performers in this class gaining no less than 45 per cent during the month.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

Trading volume on Binance Futures increased by 25 per cent month on month, increasing from $87.6 billion in June to $109.4 billion last month. Furthermore, Binance Futures also recorded a new all-time daily high with more than $13 billion in volume traded on the 28th of July 2020.

Throughout the month, the company added 16 new derivatives contracts, bringing the overall total of futures contracts up to 42, with 8 leveraged tokens.

During the month of July, the cryptocurrency exchange also noted a solid uptick in open interest, increasing by 55 per cent month on month, up from USDT 580 mm to USDT 900mm. The total open interest for the month was USDT 900 million, which was Binance’s largest open interest since its inception.

Suggested articles

Why Nigeria is Becoming Africa’s Fastest Growing Forex Trading NationGo to article >>

ETH trading increases on Binance

In the seventh month of the year, Ethereum (ETH) was one of the best performing major cryptocurrencies, with prices rallying more than 45 per cent during the month from $225 to $328.

Because of the price rally, the number of Ethereum wallets with more than 32 ETH has gradually increased, Binance said in its statement today. Now, more than 120,000 addresses are eligible to participate in staking.

“Two factors that appear to be driving the strong Ether rally are Decentralized Finance (DeFi) and Ethereum 2.0 upgrade,” the crypto exchange said in the statement.

“Since the start of the year, i...

Continue on financemagnates.com
Recent news
ETH +3.08% · cryptokek.com · 1h

KuCoin Hacked - Funds NOT SAFU!

Press Release – Source Surprise! Yet another centralized exchange has been robbed. Imagine crypto as the wild wild west era – cowboys could walk into a bank…
ETH +3.08% · en.cryptonomist.ch · 3h

What is Band Protocol?

Band Protocol is a crypto platform of decentralized cross-chain oracles. In other words, it is an alternative to Chainlink. 
ETH +3.08% · en.cryptonomist.ch · 4h

A Guide to Curve Finance

Curve Finance is a swap service for exchanging stablecoins in an advantageous way.In late 2019, founder Michael Egorov saw an opportunity in DeFi.