The world’s largest crypto exchange Binance has launched Futures Next. The program allows you to bet on which cryptocurrencies will be listed on Binance Futures in the future. Rewards are on offer.
With Binance Futures Next, the world’s leading crypto exchange is launching a new program. The self-description states that the program is intended to enable users to get involved in the “dynamic world of listing tokens”. Specifically, Binance Futures Next is all about predicting which cryptocurrencies the market leader will actually offer futures trading for in the future.
There are currently a good 40 nominated altcoins on the platform, including the young Solana meme coin WEN, for example. To participate in Binance Futures Next, customers of the crypto exchange basically have to place bets on which altcoin will make it onto the real trading platform. The minimum stake is 1 US dollar, payable in Stablecoin Tether (USDT), and the maximum stake per nomination is 100 US dollars. Binance calls Futures Next a “risk-free investment model”. This is because if a coin does not make it onto the Binance Futures market, the stake called “picks” is returned. If a coin you have bet on is listed on Binance Futures, you will be rewarded with bonus vouchers for trading.
Binance emphasizes that Futures Next is organized internally separately from the established listing process. The good performance of a cryptocurrency on Binance Futures Next therefore in no way guarantees the actual listing. However, a sentiment picture is obtained in any case. Binance customers can also nominate a cryptocurrency for Futures Next themselves by depositing 2,000 US dollars.
Futures trading is not only a high-risk business in the crypto sector. When betting on price developments, leverage is often used to multiply potential profits – but this strategy can just as easily backfire and result in considerable losses. There are discussions about the influence of the listing of an altcoin on Binance Futures on the price curve without a clear result.
Conclusion: Binance Futures Next – innovation or crypto-casino?
The futures segment is a lucrative business for Binance and the new program is expected to generate additional interest. On the other hand, Binance has stopped trading futures due to pressure from regulatory authorities in many countries, including Germany. A few days after the launch of Binance Futures Next, the success is manageable with just over 11,000 participants and around 620,000 dollar votes cast. So it remains to be seen whether Binance Futures Next will prove to be innovative by providing a playful introduction to a very risky trading segment with Bitcoin and Co.
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