Bitcoin
BitMEX releases listing of Bitcoin, Ethereum, Cardano and XRP futures
Popular crypto exchange, BitMEX, has announced the upcoming listing of new quarterly futures contracts. These listings are scheduled to go live on June 11, 2024 at 04:00 UTC, according to the latest announcement. Furthermore, this move signifies a strategic expansion in its offerings, covering the main cryptocurrencies, including Bitcoin (BTC)Ethereum (ETH) and Ripple’s XRP, among others.
Details on Bitcoin, Ethereum and XRP futures listing
The new futures contracts are visible as unlisted on the BitMEX platform. Additionally, these listings will provide traders with a variety of options to participate in the crypto market in Q3 2024. Additionally, the exchange noted that these contracts will include trading pairs such as ADAU24 (ADA/BTC), ETHU24 (ETH/BTC ), XRPU24 (XRP/BTC) and XBTH25 (BTC/USD), among others.
The specifics of the new futures contracts involving BTC, ETH, ADA and XRP They are as follows:
- ADAU24 (Cardano/Bitcoin) will be listed on June 11, 2024 and liquidated on September 27, 2024.
- ETH24 (Ethereum/Bitcoin) scheduled for listing on June 11, 2024 with settlement on September 27, 2024.
- ETHUSDU24 (Ethereum/USD) to be listed on June 11, 2024, with settlement on September 27, 2024.
- XRPU24 (XRP/Bitcoin) will be listed on June 11, 2024, with settlement on September 27, 2024.
- XBTH25 (Bitcoin/USD) set for listing on June 11, 2024 and settlement on March 28, 2025.
- XBTUSDTU24 (Bitcoin/USDT) scheduled to be listed on June 11, 2024, will be liquidated on September 27, 2024.
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Strategic Implications of New Listings
The new listings are designed to meet the growing demand for diversified trading instruments in the cryptocurrency market. Additionally, by offering futures contracts that expire quarterly, BitMEX aims to provide traders with more accurate tools for hedging, speculation, and risk management. Furthermore, these contracts allow traders to take positions on the future price movements of these cryptocurrencies with a clear settlement schedule.
Furthermore, it will increase market liquidity and stability, potentially impacting the prices of Bitcoin, Ethereum, XRP and Cardano. This announcement was met with anticipation by the trading community as it offers more robust options for portfolio diversification.
The inclusion of Ether/USD and Bitcoin/USD The contracts, in particular, reflect BitMEX’s response to the evolving preferences of its users seeking exposure to US dollar-denominated futures. Therefore, the move is expected to solidify BitMEX’s position as the leading platform for cryptocurrency derivatives trading.
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