Binance is getting into a new business: oil and gas futures trading.
What’s happening:
- Digital asset exchange Binance has officially launched perpetual futures for oil and gas
Why it matters:
- Binance is the single largest crypto exchange in the world by trading volume and this is the first time they have rolled out perpetual futures for speculating on the price of oil and gas
Going deeper:
- Binance now allows users to go both long and short on the futures market of WTI crude, Brent crude and natural gas
- Highly popular decentralized crypto exchange Hyperliquid also previously rolled out perpetual futures for WTI oil and has already seen more than $7B USD of total trading volume
