Finder makes money from featured partners, but editorial opinions are our own.

Binance acquires JEX crypto trading platform, JEX token price multiplies


Picture not described

It takes more than it used to, but there are still some ways to drive enthusiasm for tokens.

Binance has acquired JEX, a little-known crypto trading platform that offers crypto futures and other derivatives.

It shall henceforth be known as Binance JEX.

"JEX has a seasoned developer team with proven experience in cryptoasset product development," explained Binance co-founder Yi He. "JEX has developed solid derivatives product offerings including perpetual contracts and options, which are aligned with Binance's product roadmaps in the cryptoasset derivatives market."

Binance will now be managing the JEX team as well as the JEX token.

For the token, the goal is now to distribute it to various users through a series of marketing activities and incentives as well as to eventually re-acquire and burn it in various ways, such as through trading fee discounts. On the whole, the goal for the JEX token sounds very similar to what Binance Coin (BNB) is used for.

It may be no surprise, then, that the price of the JEX token multiplied as news broke, painting a hearty green candle today.

Picture not described


Even so, at the time of writing, it's running below some of its February-June prices, so from that angle, it may still appear quite the bargain.

A closer look shows that potential "insider trading" (insofar as such a thing can even technically apply to the little-regulated token market) of this news seems to have been kept to a healthy minimum, with only a mild price bump in the final hours before the news became public. That's a heck of a lot better than many other similar situations.

Picture not described


As for the Binance JEX platform, it will now be working on building Binance's futures, options and other crypto derivatives product offerings.

Binance futures trading is currently in a split testing phase, dubbed "Battle for Binance Futures: The Futures Are in Your Hands!" where users can try out two flavours of Binance futures trading and choose their favourite, with a total of up to 10,000 BNB (a cool quarter million dollars) being distributed among those who test both with simulated trades and then vote for their favourite.

Also watch

Disclosure: The author holds BNB and BTC at the time of writing.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Picture: Shutterstock

Get started with crypto

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site