- Binance will launch BNB Futures on February 10th.
- The BNB fell 6% against the dollar, setting an intraday low of $ 20,90.
The announcement, released by the world's largest cryptocurrency exchange Binance, confirmed the launch of BNB Futures. The futures trading table will open on Monday, February 10, offering traders a maximum leverage of 50 times for their transactions. Contracts paired with Tether (USDT).
The launch of futures, which are supported by the exchange’s native token, represents a new market for rates against the future price of BNB. At the time of writing, the price of the BNB was $ 21,67, and the market is giving a bullish signal in the near future.
Binance Coin (BNB) faces 6% drop
After a steady uptrend in the last few days, after the announcement of BNB futures and the general bullish momentum in the cryptocurrency market, BNB witnessed a shock reversal of 6% in the first hours of the US market, when the price fell to $ 20,90 from an intraday high of $ 22,16 USA.
Anybody else like $ BNB?
- The Crypto Dog📈 (@TheCryptoDog) February 7, 2020
Since then, the price has slightly recovered to current prices, and in the near future the bulls are set at $ 25,00. One crypto trader and analyst, Keith Waring, believes that the launch of BNB Futures will further raise the coin to further heights in future growth. He believes the coin is likely to top the top 10 coins, explaining:
“Thus, during the upcoming bull run, their position as one of the most reliable and secure exchanges in space guarantees an increase in demand for the BNB token, so I expect it to surpass all other top 10 assets if the bull Bitcoin race continues ".
BNB futures follow the many cryptocurrencies added by the exchange in the near past, such as the ZCash / USDT perpetual contract in early February and Tron perpetual contracts in January, offering a leverage of 75X.