BitMEX Launches Perpetual Contract for USDT/USDC Trading Pairs
On March 11, it was reported that BitMEX, the crypto trading platform, will launch the USDT/USDC perpetual contract at 12:00 on March 12. The maximum leverage o
On March 11, it was reported that BitMEX, the crypto trading platform, will launch the USDT/USDC perpetual contract at 12:00 on March 12. The maximum leverage of the contract is 10 times, and the guarantee gold currency will adopt XBT. Users can make long or short USDT/USDC exchange rate through this transaction.
BitMEX will launch the USDT USDC perpetual contract on March 12
Analysis based on this information:
BitMEX, the cryptocurrency trading platform, has announced the launch of the USDT/USDC perpetual contract, which will allow traders to long or short USDT/USDC exchange rate through this transaction. The contract is set to go live at 12:00 on March 12 and will offer a maximum leverage of 10 times, while the guarantee gold currency of the contract will adopt the ticker XBT.
Perpetual contracts are a variant of traditional futures contracts, but they do not have a set expiry date. Instead, traders can hold their position indefinitely, until they decide to exit the trade. This makes perpetual contracts useful for those who want to hold a long or short position for a longer period of time, beyond the expiry date of a traditional futures contract.
The addition of USDT/USDC perpetual contracts to BitMEX’s trading options will provide traders with more flexibility and hedging opportunities, especially those who use the stablecoin pairs as a base for their trading strategy. USDT and USDC are both popular stablecoins that are pegged to the value of the US dollar, making them attractive to traders who want to avoid the volatility of other cryptocurrencies. With the perpetual contracts, traders can now access leveraged trading on this particular stablecoin pair, which could provide higher returns, although with higher risks as well.
The maximum leverage of 10 times is similar to what is offered for other perpetual contracts on BitMEX, such as BTC/USD, ETH/USD, and BCH/USD. However, traders should be aware that leverage amplifies both profits and losses, so it is important to manage risk carefully. The use of XBT as the guarantee gold currency means that the settlement of the contract will be in Bitcoin, which is the standard for BitMEX trading pairs.
Overall, the launch of the USDT/USDC perpetual contract on BitMEX is a positive development for traders who want more trading options and flexibility in the stablecoin market. However, traders should also be aware of the risks involved in leveraged trading and should use proper risk management strategies.
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