Binance is over leveraging on their perpetuals volume (160% vol. of the market) (monero.im)

submitted 9 months ago* (last edited 9 months ago) by snitchy_asc@monero.im to c/monero@monero.town

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Binance is doing leverage ? Or speculators leveraged the bounce on Binance (still not really delisted until the 20 Feb). These people (if they can be reached) should more be advised to trade in spot, on places where they can actually withdraw funds to use them.

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[-] chaser@monero.town 3 points 9 months ago

there is nothing that requires a perpetuals market to have a lower volume than the whole spot market for the underlying asset. perpetuals are derivative assets, the reason they exist is to enable trading regardless of access to the underlying asset's supply.

side note: Binance will shut down their XMRUSD perpetuals with the delisting, but they will keep running their XMRUSDT perpetuals (USDⓈ-M XMRUSDT):

Please note that users may continue trading USDⓈ-M XMRUSDT and ANTUSDT Perpetual Contracts.

(https://www.binance.com/en/support/announcement/binance-will-delist-ant-multi-vai-xmr-on-2024-02-20-f73b083ba6834771b07dbe5319917ae5)

[-] snitchy_asc@monero.im 3 points 9 months ago

It was more to point out that speculators are more trading paper monero, than getting it in spot to withdraw it But yes we still have their perps after delisting they wants to censor buying it