BitMEX, a cryptocurrency derivatives exchange, has increased the leverage on its Bitcoin perpetual swap XBTUSD from 100x to 250x ahead of the Bitcoin halving event. This decision was made in response to requests from traders who are seeking to profit from the anticipated volatility leading up to the halving. The increased leverage is designed to allow traders to capitalize on the potential gains in the market, with the CEO of BitMEX, Stephan Lutz, stating that they want to offer traders the opportunity to make more money during the bull market. BitMEX introduced 100x leverage for perpetual swaps in 2016 and expects a bright future for both the exchange and crypto traders.
The deep liquidity on BitMEX’s perpetual swaps allows traders to place larger trades with higher leverage, while the exchange’s trading environment includes an Insurance Fund to protect traders and assets. The XBTUSD perpetual swap has seen over US$3 trillion in trading volume on the platform alone, and BitMEX aims to offer additional rewards to users who engage in trading 250x perpetual contracts. The exchange’s goal is to create timely products for crypto traders to maximize their profits, and the introduction of 250x leverage on the XBTUSD perpetual swap aligns with this mission.
In addition to increasing leverage on the XBTUSD perpetual swap, BitMEX has introduced a new perpetual contract featuring Tether Gold (XAUtUSD) with 25x leverage. Tether Gold is a cryptocurrency backed by physical gold, providing a blockchain-based way to buy, hold, and transfer ownership of gold. Trading of the XAUtUSD perpetual contract began recently, offering traders the ability to long or short the XAUt/USD exchange rate without directly dealing with XAUt or USD. This new product expands BitMEX’s offerings and provides traders with additional opportunities to diversify their portfolios and potentially profit from movements in the gold market.
Overall, BitMEX’s decision to increase leverage on the XBTUSD perpetual swap and introduce a new perpetual contract featuring Tether Gold demonstrates the exchange’s commitment to providing innovative products and opportunities for its users. With the Bitcoin halving event on the horizon and growing interest in cryptocurrency trading, BitMEX is positioning itself to meet the demand for high-leverage products that enable traders to take advantage of market volatility. By offering increased leverage options and expanding its product offerings, BitMEX aims to support the success and profitability of its users in the evolving cryptocurrency landscape.
