Binance: Bitcoin Continues Parabolic Growth

The volume of derivatives has risen as the first cryptocurrency continues to parabolic growth, analysts from the Binance platform write in their report. The strengthening of Bitcoin’s position this year has been the catalyst for a surge in futures trading on crypto exchanges.

Thus, it is noted that the highest one-day volume was recorded on Binance Futures – more than $ 37 billion, and in general it exceeded $ 450 billion at the beginning of last month. “Unsurprisingly, bitcoin contracts account for the overwhelming proportion of turnover, about 60% of the total in the first weeks of last month. At the end of November, investor interest shifted to altcoins, as market players strenuously opened positions on the eve of the launch of ETH 2.0, which took place on December 1, ”the report says.

As the first cryptocurrency approached the $ 20,000 mark, Binance also recorded a record of $ 2.6 billion in investments, the highest in the industry today. Volumes rose to $ 1.9 billion last month, up 58% from $ 1.2 billion in October.