BitMEX Announces ‘ETHUSD Perpetual Swap’ And ‘UPs And Downs’ Products

Despite latest bearish tendencies on the crypto markets, Hong Kong-based cryptocurrency trade BitMEX has traded greater than 1 million BTC contracts in a single day for the second time in a month. A complete of 1,027,214.62 Bitcoin contracts (price roughly $6.6 billion) had been traded on Wednesday, August 8, following the corporate setting the world file on July 25.

On the again of this information, BitMEX additionally announces the launch of two revolutionary monetary merchandise, ETHUSD perpetual swap product and UPs and DOWNs, to satisfy market demand:

ETHUSD perpetual swap product is predicated on the success of BitMEX’s XBTUSD swap product. prospects can now commerce ETHUSD value at leverage, whereas avoiding points with settlement and huge quantities of foundation inherent to typical futures merchandise. Within one week of launching, this product is now probably the most liquid devices globally to commerce the Ethereum / USD pair.

“UPs and DOWNs” lets BitMEX customers reap the benefits of name and put choices. UPs, or Upside Profit Contracts, work equally to conventional inventory name choices by giving token holders the best to buy crypto-coins on BitMEX at a specified value for a predetermined time period. DOWNs, or Downside Profit Contracts, act like conventional put choices, letting token holders promote a crypto-coin on the platform at a specified value.

BitMEX CEO and co-founder Arthur Hayes stated:

“Once again meeting our own record of 1 million bitcoin traded within 24 hours is a major milestone for the crypto-coin market and testament to the strong community BitMEX is growing. In continuously engaging with, and truly listening to, the needs our customers, we’ve recognized an overwhelming demand for innovative financial products that give the crypto market greater versatility. It’s thanks to our discerning community that we have launched our two innovative, new products: the ETHUSD perpetual swap product and UPs and DOWNs. With futures, swaps, and now options available on BitMEX, we are making great strides toward offering a wealth of derivative products designed for the crypto-coin industry.”

The trade additionally claims that its XBT/USD markets are probably the most liquid on the planet.

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