In the second quarter of the trading volume in futures on the largest crypto currency exchange Binance increased by 68% compared to the previous period. Indicators spot market during this time almost has not changed, according to The Block.
Derivatives on Binance appeared in the third quarter of last year. Since then, the trading volume of derivatives rose steadily until may 2020. In June, the index fell substantially, however, by the end of II quarter reached $263 billion In the previous period the figure was $157 billion.
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According CoinMarketCap and Bitwise, the spot platform Binance a leader in trading volume. Among futures exchanges Binance in third place, behind Huobi and OKEx:
Attendance Binance is almost in lockstep with the largest U.S. stock exchange Coinbase:
17 Jul Binance reported completing the 12th quarterly burning token BNB. As a result of the treatment was seized a record quantity of coins – 3 477 388 BNB for $60.5 million Is 15.3% more than in the previous quarter.
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To date, Binance burned BNB 23,59 million total cost $million 358,54 Is 11.8% of the total market supply of the asset (200 million coins).
According to the original whitepaper, for incineration quarterly exchange buys coins BNB, corresponding to 20% of net profit. Subsequently, the company has updated the document, which now States that the BNB is destroyed in accordance with the volume of trading on the spot market, and futures margin platforms.
Earlier in conversation with The Block head of the Binance Chanpen Zhao said the following:
“We have removed the reference to profit, because some jurisdictions associate it with securities. We would like to distance BNB from it.”
Unlike other exchanges, including Bitfinex and its token LEO, Binance burns coins from its reserves. Consequently, the impact on the price of an asset as significant as if the company bought back its native token on the open market.