Perps Take Over Crypto Traders: What You Need to Know

Crypto traders are abuzz about a trading instrument known as perps, short for perpetual contracts. Perps allow users to bet on the price of an underlying asset with no fixed expiration date.

This type of contract is popular in traditional finance, particularly among commodity and currency traders. In cryptocurrency markets, however, perps have only recently gained traction.

The rise of perps in crypto can be attributed to platforms like Binance Futures, which introduced the feature in 2019. Since then, other exchanges have followed suit, offering users a new way to trade cryptocurrencies.