07-11-2022, 03:37 PM
USDT-Margined Perpetual Contracts Take 91.97% as Binance Futures Hits $5.90trn in Q2
Binance Futures, the world's largest crypto derivatives exchange, surpassed $5.90 trillion in total trading volume in perpetual futures contracts in the second quarter of 2022.<p>Tether-margined (USDT-M) perpetual contracts accounted for 91.97% of this trading volume in the said period, the exchange said. </p><p>Binance disclosed these in its Binance Futures Quarterly Report: Q2 2022 published on Friday.</p><p>Performance of the Crypto Trading Pairs</p><p>According to Binance, the average daily volume (ADV) of USDT-M perpetual contracts stood at $43.52 billion. </p><p>However, USDT-M perpetual contracts traded on the futures market of the exchange surged to as high as $121.41 billion on May 11th. </p><p>In the second quarter of this year, trading pair BTC/USDT was the most-traded perpetual contracts on Binance Futures while 1000 BitTorrent Chain token (BTTC)/USDT was the least traded, the quarterly report says.</p><p>While BTC/USDT returned $1.28 trillion in trading volumes, 1000 BTTC/USDT turned over $87.91 million. </p><p>“The second one was the ETH/USDT contract with $549.75 billion in trading volume, followed by GMT/USDT with an aggregated quarterly trading volume of $232.28 billion,” Binance said. </p><p>Trading pairs DFI.Money (YFII), an Ethereum token, and USDT came in as the second least traded pair of perpetual contracts with $154.62 million in trading volumes.</p>How Did BUSD-M Perpetual Contracts Perform?<p>Binance said margined perpetual contracts based on its stablecoin Binance USD (BUSD) “saw a substantial uptick in interest.”</p><p> The exchange said BUSD-M perpetual contracts ADV came in at $3.80 billion. </p><p>The ADV started with $2.58 billion on April 1, it closed at an impressive $6.62 billion on June 30.</p><p>“The addition of 17 new BUSD-M pairs appears to have significantly contributed to the spike in trading volume as BUSD became the third-largest stablecoin in the cryptocurrency market,” Binance explained.</p><p>However, Binance Futures saw a 54.70% plunge in open interest during the period.</p><p>The exchange said it opened with $11.68 billion in open interest at the beginning of the quarter but closed with $5.29 billion.</p><p>This sharp decline “correlates with the market dynamics seen during the period,” the largest crypto derivatives exchange said.</p><p>Open interest is the total number of futures contracts that are active or have not been settled by market participants.</p><p>Furthermore, Binance explained that most traders kept an optimistic approach to trading cryptocurrencies in the meme, infrastructure and metaverse market categories.</p><p>Binance explained, “The combined 1000SHIB/USDT and DOGEUSDT long/short ratio was as high as 3.75. </p><p>“The overall long/short ratio for the infrastructure sector, which includes ANKR/USDT, TK/USDT, CVC/USDT, DENT/USDT, GAL/USDT, GTC/USDT, HNT/USDT, JASMY/USDT, LPT/USDT and NKN/USDT, was 3.50. </p><p>“Meanwhile, trading pairs in the Metaverse sector, such as ALICE/USDT, AXS/USDT, GALA/USDT, GMT/USDT, MANA/USDT, SAND/USDT and TLM/USDT, maintained an average long/short ratio of 3.26.”</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...trn-in-q2/
Binance Futures, the world's largest crypto derivatives exchange, surpassed $5.90 trillion in total trading volume in perpetual futures contracts in the second quarter of 2022.<p>Tether-margined (USDT-M) perpetual contracts accounted for 91.97% of this trading volume in the said period, the exchange said. </p><p>Binance disclosed these in its Binance Futures Quarterly Report: Q2 2022 published on Friday.</p><p>Performance of the Crypto Trading Pairs</p><p>According to Binance, the average daily volume (ADV) of USDT-M perpetual contracts stood at $43.52 billion. </p><p>However, USDT-M perpetual contracts traded on the futures market of the exchange surged to as high as $121.41 billion on May 11th. </p><p>In the second quarter of this year, trading pair BTC/USDT was the most-traded perpetual contracts on Binance Futures while 1000 BitTorrent Chain token (BTTC)/USDT was the least traded, the quarterly report says.</p><p>While BTC/USDT returned $1.28 trillion in trading volumes, 1000 BTTC/USDT turned over $87.91 million. </p><p>“The second one was the ETH/USDT contract with $549.75 billion in trading volume, followed by GMT/USDT with an aggregated quarterly trading volume of $232.28 billion,” Binance said. </p><p>Trading pairs DFI.Money (YFII), an Ethereum token, and USDT came in as the second least traded pair of perpetual contracts with $154.62 million in trading volumes.</p>How Did BUSD-M Perpetual Contracts Perform?<p>Binance said margined perpetual contracts based on its stablecoin Binance USD (BUSD) “saw a substantial uptick in interest.”</p><p> The exchange said BUSD-M perpetual contracts ADV came in at $3.80 billion. </p><p>The ADV started with $2.58 billion on April 1, it closed at an impressive $6.62 billion on June 30.</p><p>“The addition of 17 new BUSD-M pairs appears to have significantly contributed to the spike in trading volume as BUSD became the third-largest stablecoin in the cryptocurrency market,” Binance explained.</p><p>However, Binance Futures saw a 54.70% plunge in open interest during the period.</p><p>The exchange said it opened with $11.68 billion in open interest at the beginning of the quarter but closed with $5.29 billion.</p><p>This sharp decline “correlates with the market dynamics seen during the period,” the largest crypto derivatives exchange said.</p><p>Open interest is the total number of futures contracts that are active or have not been settled by market participants.</p><p>Furthermore, Binance explained that most traders kept an optimistic approach to trading cryptocurrencies in the meme, infrastructure and metaverse market categories.</p><p>Binance explained, “The combined 1000SHIB/USDT and DOGEUSDT long/short ratio was as high as 3.75. </p><p>“The overall long/short ratio for the infrastructure sector, which includes ANKR/USDT, TK/USDT, CVC/USDT, DENT/USDT, GAL/USDT, GTC/USDT, HNT/USDT, JASMY/USDT, LPT/USDT and NKN/USDT, was 3.50. </p><p>“Meanwhile, trading pairs in the Metaverse sector, such as ALICE/USDT, AXS/USDT, GALA/USDT, GMT/USDT, MANA/USDT, SAND/USDT and TLM/USDT, maintained an average long/short ratio of 3.26.”</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...trn-in-q2/