BitMEX to Launch VELOUSDT Perpetual Swaps with 50x Leverage
Luisa Crawford Dec 16, 2024 03:30
BitMEX announces the launch of VELOUSDT perpetual swaps, offering traders up to 50x leverage. The new listing will be available from December 16, 2024.
BitMEX, a leading cryptocurrency exchange, is set to expand its trading offerings with the introduction of a new perpetual swap for VELOUSDT. This listing, which goes live at 04:00 UTC on December 16, 2024, will enable traders to engage in high-leverage trading, with opportunities to leverage their positions up to 50 times, according to BitMEX.
New Opportunities for Traders
The addition of VELOUSDT to BitMEX's trading platform marks a significant opportunity for traders looking to capitalize on the volatility of VELO. The perpetual swap format allows users to hold positions indefinitely without an expiry date, providing more flexibility in trading strategies.
Understanding Perpetual Swaps
Perpetual swaps are a type of derivative product that mimics a margin-based spot market, but with no expiry or settlement. Unlike traditional futures contracts, perpetual swaps trade close to the underlying reference index price due to mechanisms such as funding rates. The introduction of VELOUSDT perpetual swaps provides traders with a tool to hedge or speculate on the price movements of VELO with significant leverage.
Market Impact and Future Prospects
The launch of VELOUSDT perpetual swaps is anticipated to enhance liquidity and increase trading volumes on BitMEX. As more traders engage with this new product, it could lead to greater price discovery and market efficiency for VELO. This move aligns with BitMEX's strategy to expand its derivatives offerings and cater to the growing demand for diverse trading instruments in the cryptocurrency market.
For more details on the new listing, interested parties can visit the official BitMEX blog.
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