Binance Futures has initiated a fresh promotional campaign, offering rewards totaling $170,000 in USDC to boost engagement and awareness of its recently introduced USDC-margined perpetual contracts.
This move comes at a time when the platform continues its dominance in the cryptocurrency futures market, boasting an impressive daily volume of $60 billion and a strong market share compared to spot trading.
The new Binance Futures campaign aims to encourage the utilization of its USDC-margined perpetual contracts and is divided into two parts. Firstly, users who deposit USDC into their accounts are eligible to participate in a $125,000 USDC rewards pool. This part of the promotion is open to all users, including VIP tiers 1-3, with the only requirement being a minimum deposit of 100 USDC. As an incentive, participants will receive a trading fee rebate voucher.
The second part of the campaign offers an additional $45,000 in USDC for users who execute trades amounting to a minimum of 1,000 USDC. This dynamic rewards pool will distribute up to $45,000 in USDC, adjusting based on the number of eligible participants, with a maximum allocation for 6,000 participants. These incentives seek to boost the popularity of USDC-margined perpetual contracts, complementing the already high demand for its Bitcoin (BTC) markets.
Binance Strengthens Its Leadership Position
Several factors contribute to the increasing preference for cryptocurrency futures contracts, especially perpetuals, over spot trading. This includes the potential for higher profits through leveraged trading during significant market movements. Furthermore, the use of stablecoins like USDC as the underlying asset in these contracts provides traders with the convenience of avoiding exposure to market movements when not actively trading.
Binance Futures has solidified its position as a leader in the cryptocurrency derivatives market. Its BTC markets, in particular, are popular, contributing significantly to the platform’s $10 billion in open interest over 24 hours.
The strategic focus on top cryptocurrency assets, including Bitcoin, and contracts based on stablecoins positions the platform advantageously. This strategy reduces susceptibility to market manipulation due to the liquidity and global accessibility of these assets. This move is likely to attract more traders and contribute to maintaining its dominant position in the growing futures market.
