Binance Announces Bitcoin Futures Trading on its Android Mobile Application, Hits All Time Highs
- Binance Futures are available for trading on the Android app version.
- Binance on the rise as Bitcoin (BTC) futures volume reaches 50% of spot volume.
Binance introduces Binance Futures on Android app
A successful week on the Binance exchange, the world’s largest crypto exchange in daily trading volume, was capped by the launch of Binance Bitcoin futures on their Android app. Binance Futures hit an all-time high 24-hour trading volume on Oct.28 – reaching close to 315,000 BTC (~$3 billion) – barely three days after surpassing the $1 billion mark.
Following the spike in leverage from X20 to over X125 on Binance Futures, the trading volumes have steadily increased and are expected to do so with the latest update on the exchange’s Android app allowing trading of futures.
The official announcement reads,
“In this update, mobile app users can trade BTC/USDT futures contracts at up to 125x leverage on an industry-leading, fast and robust matching engine, from the convenience of their mobile device.”
According to a Twitter post on the official exchange account on Oct.28, the Android app version of Binance Futures was to be “released in a day or two” and the wait is finally over. The post further confirmed the development of the iOS version is in active development.
#BinanceFutures will be live on the Google Play store app in the next day or 2 pending the store update.
In the meantime, you can get early access by downloading the Android APK here:
iOS is in active development. pic.twitter.com/kVPNGRlVcd
— Binance (@binance) October 29, 2019
On the launch of the Android app update, Aaron Gong, Director of Binance Futures, praised the continued technical developments in Binance promising more developments in the future.
“In the coming months, we will roll out new major features that address community feedback, including several developments to improve the user experience. The launch of the Android app this week is one of the major features released based on community requests.”
A spike in Binance Bitcoin futures trading
Reports from Bloomberg confirms the gap between spot volume trading and futures trading volume is rapidly narrowing with futures volume reaching 50% of the spot volume traded. Since the launch of Binance BTC futures in September, the derivatives have been wildly successful in trading, capturing over 12% of the daily volume market share.