BitMEX, a popular crypto derivatives exchange, has increased the leverage on its Bitcoin perpetual swap XBTUSD from 100x to 250x ahead of the Bitcoin halving event. This move comes in response to trader requests to take advantage of the expected volatility as the halving approaches. The exchange aims to allow traders to capitalize on the upcoming bull market by offering higher leverage options. BitMEX expects that 2024 will be a great year for both the exchange and crypto traders as they continue to create new products and enhancements for their users.
With the increase in leverage for XBTUSD perpetual swaps, BitMEX aims to provide traders with the ability to place larger trades with higher leverage. The exchange’s deep liquidity on perpetual swaps ensures that traders can take advantage of market movements and profit from their positions. Additionally, BitMEX has its Insurance Fund backed to enhance the protection of traders and their assets. The exchange has seen over US$3 trillion in trading volume on the XBTUSD perpetual swap alone, demonstrating the popularity and success of the product.
In addition to increasing leverage on the XBTUSD perpetual swap, BitMEX has introduced a new perpetual contract featuring Tether Gold (XAUt). This new contract, XAUtUSD, offers traders the ability to trade Tether Gold with a 25x leverage. Tether Gold is a cryptocurrency backed by physical gold, providing a blockchain-based way for traders to buy, hold, and transfer gold ownership. The trading of XAUtUSD started recently, and it has a fixed Bitcoin multiplier, allowing traders to long or short the XAUt/USD exchange rate without directly holding XAUt or USD.
BitMEX’s CEO, Stephan Lutz, highlighted the company’s commitment to providing timely products for crypto traders to make more money. The exchange aims to be at the forefront of innovation in the crypto derivatives space, offering new products and enhancements to meet the needs of its users. By increasing the leverage on the XBTUSD perpetual swap and introducing new contracts like XAUtUSD, BitMEX is positioning itself as a leading platform for crypto derivatives trading. The exchange also plans to offer additional rewards to users who engage in trading 250x perpetual contracts, further incentivizing traders to take advantage of the increased leverage options.
As the Bitcoin halving event approaches, BitMEX is gearing up to provide traders with the tools they need to profit from the expected market volatility. By increasing leverage on the XBTUSD perpetual swap and introducing new contracts like XAUtUSD, the exchange is creating opportunities for traders to capitalize on market movements and maximize their profits. BitMEX’s deep liquidity, backed Insurance Fund, and commitment to innovation make it a reliable and trusted platform for crypto derivatives trading. Traders can look forward to a range of new products and enhancements as BitMEX continues to lead the way in the industry.
