The Binance Futures VP Aaron Gong said in an interview that the platform saw a stunning 217% increase in institutional clients in Q1 this year as we are reading more in the following Binance news today.
Binance is now the leading crypto exchange in the world by means of the trading volume. It was launched in 2017 and the company managed to become the perfect standard in the industry very quickly. Despite the fast growth pace, the major exchange launched Binance Futures, the crypto derivatives, and the trading platform of Binance back in 2019. The Futures platform allows users to trade Bitcoin and other major altcoins with 125x leverage.
In the upcoming months after the launch, Binance Futures managed to establish itself as the leading player on the market and ranked on top with big players such as BitMEX and even surpassed it in terms of monthly volume. The Binance Futures AP Aaron gong, who was a former director for APAC Clients and Development and Sales at CME Group, now helped Binance Futures to get to the top of the crypto derivatives exchange list. He thinks that Binance is still a young company which is why it took three years to launch the platform of the future.
He said that the exchange started a mission to promote freedom of money which is why it is now the leading crypto exchange platform. They are trying to build strong recognition for the derivatives and they invest in product innovation and technology. He continued:
“We want to cater to as broad an audience as possible – making cryptocurrency accessible to as many as possible. For experienced traders who demand more advanced products, our newest Binance Quarterly Futures are right on the dot, with up to 125x leverage. We also want to accommodate other traders and users who want to manage their portfolio differently. The entirety of the Binance ecosystem comes together to support our users: whether it is Binance Academy providing training to help onboard new users or Binance Research producing in-depth reports for analysts and investors, we support our users according to their needs.”
Observers noted that the exchange gained market share over Black Thursday because the Binance Futures bitcoin perpetual contracts reached the highest daily point volume of $2.21 billion. The exchange onboarded 47% more new institutional clients in the Q1 of 2020 as compared to the Q1 in 2019.
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