DeFi Pushes Binance to a Staggering $195 Billion in Futures Volume

[MRM]

Binance’s futures products saw an unprecedented increase in trade volumes as the DeFi market exploded in August.
Crypto exchange Binance had its best month yet for its futures offering with billions of dollars in trade volumes across all altcoins, the firm said in its August market outlook.

Futures markets allow investors to take leveraged bets on the price movements of an asset without them necessarily purchasing that asset. They also allow traders to profit from price declines by letting them bet against the market, in contrast to spot trading where investors can only either buy and hold an asset or sell to fiat for a loss.
Source: https://decrypt.co/40741/defi-pushes-binance-to-a-staggering-195-billion-in-futures-volume

[highnayem34]

Binance said it listed over 17 new futures contracts in August, including DeFi projects like yield aggregator Yearn Finance’s YFI token—and even its Chinese fork “YFII”—among others.