Cryptocurrency exchange Binance has been in the news recently for adding altcoins such as KAS, BSV, PYTH, BONK, ORBS, BIGTIME, TOKENF, and most recently ETHW to its futures trading arm, Binance Futures. Experts believe Binance is engaging in this practice to generate risk-free profits.
Binance’s Futures Trading Plan for Altcoins
Currently, there are many altcoins listed on Binance’s futures trading platform that are not listed on the spot market. It is evident that the cryptocurrency exchange has been focusing on futures listings rather than spot listings lately, with a quick succession of altcoins such as KAS, BSV, PYTH, BONK, ORBS, BIGTIME, TOKENFI, and ETHW being added to its futures trading offerings. The unique aspect of these altcoins is their absence from the spot listings.
Experts suggest that Binance’s reason for offering futures trading for altcoins that are not listed on the spot market is to earn transaction fees without taking on excessive responsibility. This is further supported by the fact that initiating futures trading for an altcoin is simpler than listing it on the spot market.
Listing an altcoin on the spot market requires the cryptocurrency exchange to hold the coin/token or engage in technical pairing, among other things. Experts are focusing on the likelihood that Binance will continue with this model in the future and expand its listings to become more comprehensive.
Altcoins Introduced to Futures Trading by Binance
Binance has opened up futures trading for a multitude of altcoins in the last month. These include both coins/tokens that are listed on the spot market and those that are not.
The list of altcoins Binance has introduced to futures trading with up to 50x leverage in the past month includes:
- ETHW
- ONG
- SUPER
- USTC
- 1000BONK
- PYTH
- BEAMX
- KAS
- MBL
- NTRN
- ILV
- BADGER
- STEEM
- ORDI
- MEME
- TOKEN
- TWT
- CAKE
- SNT
- TIA
- SLP
- POWR
- POLYX
- GAS
- Binance adds new altcoins to futures trading.
- Strategy allows earning without excessive risk.
- Spot-market complexities bypassed for futures listings.
