Binance's futures trading volume grew 68% in Q2 compared to Q1
July 18, 2020, 10:00AM EDT
1 min read
Crypto exchange Binance's futures trading volume increased 68% in Q2 this year compared to Q1, according to The Block Research.
In dollar terms, the volumes stood at $263 billion in Q2 versus $157 billion in Q1. Binancelaunched its futures trading platform in September 2019.
The exchange's spot trading volume, on the other hand, declined by around 4% in Q2 to $146.3 billion as compared to $152.7 billion in Q1 — yet, Q2 is Binance's fourth-best quarter since its launch.
Source: Skew, The Block Research
Also, Binance today completed the twelfth quarterly burn of its native token Binance Coin (BNB ) — its largest-ever burn. That removed around $60.50 million worth of BNB from circulation. Binance burns BNB every quarter based on its overall trading volume.
The exchange started burning BNB in Q3 of 2017. At the time, it used to burn the token based on profits. But in April 2019, it quietly shifted to trading volumes. Binance CEO Changpeng "CZ" Zhao told The Block at the time that profits tend to get associated with securities in some regions, and hence the burn mechanism was changed.
Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.
Bloomberg reported Friday that a broad U.S. government investigation into the operator of crypto exchange Binance has widened to include "whether Binance or its staff profited by taking advantage of its customers."
The securities regulator for Alabama issued a show-cause order on Thursday to crypto lender Celsius, seeking an explanation for why its offerings don't constitute the sale of securities under state law.
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