According to The Block, the volume of trading on the futures market on the Binance platform amounted to $306.6 billion in the third quarter of 2020, and this is a record figure for the entire period of the exchange.
The trading volume on the futures market on Binance's trading floor grew by 110% in Q3 2020 - in Q2 this figure reached only $146.3 billion. The growth of trading volume is most likely due to the inflow of retail investors to Binance.
It should be noted that Binance's futures platform also recorded a noticeable increase in trading volume, although the dynamics here are not so impressive - the index grew only by 43.5% for the quarter.
The Block analysts stressed that historically the main source of Binance's profit was trading fees, but recently the exchange ecosystem has grown significantly. The platform now offers derivatives trading for cryptov currencies, credit products and P2P trading for Chinese users.
Recently, Binance has held another quarterly BNB incineration. The volume of destroyed coins is calculated based on the profit from transactions on the exchange. During the thirteenth quarterly incineration was destroyed 2.2 million BNB worth $ 68 million.
