📰 Table Of Contents
BitMEX Increases Leverage on Bitcoin Perpetual Swap
Crypto derivatives exchange BitMEX has raised the leverage on its Bitcoin perpetual swap XBTUSD from 100x to 250x in preparation for the upcoming Bitcoin halving event. This move aims to cater to traders looking to capitalize on the expected market volatility surrounding the halving.
What is a Perpetual Swap?
A perpetual swap is a type of derivative trading product that allows traders to take large positions in a cryptocurrency with minimal initial capital investment.
CEO’s Statement
Stephan Lutz, CEO of BitMEX, emphasized the importance of offering increased leverage to help traders maximize their profits during bullish market conditions.
BitMEX’s Future Outlook
BitMEX, which introduced 100x leverage for perpetual swaps in 2016, is optimistic about the prospects for 2024 and is committed to providing innovative products to benefit crypto traders.
Enhanced Trading Environment
BitMEX’s deep liquidity and backed Insurance Fund provide traders with the ability to execute larger trades with higher leverage while ensuring enhanced protection for their assets.
Introduction of XAUtUSD Perpetual Contract
In a recent development, BitMEX has launched a new perpetual contract, XAUtUSD, featuring Tether Gold (XAUt) with a leverage of 25x. Tether Gold is a digital asset backed by physical gold, offering a secure and transparent way to trade gold on the blockchain.
Key Features of XAUtUSD Trading
- Trading of XAUtUSD began recently with a fixed Bitcoin multiplier, independent of the XAUt/USD price.
- Traders can speculate on the XAUt/USD exchange rate without directly holding XAUt or USD.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
