If you are a miner or a long-term investor, this is ideal for you. Therefore, you do not need to convert Bitcoin to a quote asset such as Tether (USDT). To open a position in BTCUSD Quarterly 1225, you can simply fund the initial margin in Bitcoin. No Expiration Date - You can hold positions without an expiry date and do not need to keep track of various delivery months, unlike traditional futures contracts.Ĭlear Pricing Rules - Each futures contract specifies the base asset's quantity delivered for a single contract, also known as "Contract Unit." For instance, BTC/USDT, ETH/USDT, and BNB/USDT futures contracts represent only one unit of its respective base asset, similar to spot markets.īinance Futures’ COIN-margined contracts are denominated and settled in its base currency. Settlement in USDT - Contracts are denominated and settled in USDT, providing a versatile settlement currency across the USDT-margined futures product line. On the other hand, USDT-margined contracts offer the following characteristics: For example, 1,000 USD of BTCUSD Quarterly 1225 (100 USD x 10 contracts) and 1,000 USD of ETHUSD Quarterly 1225 (10 USD x 100 contracts).Įxpiration - Perpetual, Quarterly, and Bi-Quarterly Each BTC futures contract represents 100 USD while each ETH futures contract represents 10 USD. Settlement in Crypto - Contracts are denominated and settled in the underlying cryptocurrency, eliminating the need to hold stablecoins as collateral.Ĭontract Multiplier - Contract multiplier represents the value of a contract. This meant that any USDC sent to Binance was effectively sucked away into BUSD’s market cap, which had a noticeable impact on each coin’s market dominance.COIN-margined contracts on Binance Futures offer the following characteristics: Binance CEO Changpeng Zhao has confirmed that his exchange will have to pivot away from its use of BUSD when consolidating stablecoin liquidity, possibly making room for USDC to flourish again.īack in September, Binance began converting most major stablecoins including USDC (but not USDT) into BUSD when deposited to the exchange. USDC, however, may still gain from BUSD’s demise in the long run. ![]() Unlike Paxos and Circle – issuer of the second largest stablecoin, USDC – Tether is owned by the Hong Kong-based company, iFinex.ĭata from DeFiLlama shows that Tether’s latest gains bring its stablecoin market dominance to 50.77%, with the entire market worth $136.93 billion. Investors often trade against such tokens on CeFi and DeFi exchanges when buying other more volatile cryptos, making them a backbone of the crypto economy.īUSD’s losses may show that those seeking stablecoin liquidity are fleeing to the longtime king, Tether, to escape future regulatory crackdowns in the US. ![]() Each is backed by multi-billion dollar reserves mostly comprised of cash and US T-bills, but come with the programmability and transferability of a crypto asset. ![]() Stablecoins like BUSD and USDT are cryptocurrencies that are value pegged to the US dollar. Paxos, the company behind the token, confirmed that it would stop minting new units of the stablecoin beginning next week, following orders from the New York Department of Financial Services (NYDFS). ![]() Meanwhile, the Paxos-issued BUSD has experienced a nearly equivalent decline from $16.14 billion on Monday to $15.46 billion on Tuesday.
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