- In advance of the halving, BitMEX raised the leverage on their bitcoin perpetual swap, XBTUSD, from 100x to 250x.
According to BitMEX CEO Stephan Lutz, “we want to make sure traders can capitalize the most on the bull market.”
Prior to the halving event, BitMEX raised the leverage on its bitcoin perpetual swap, XBTUSD, from 100x to 250x.
According to BitMEX on Friday, the higher leverage was a response to calls from traders looking to take advantage of the volatility around the upcoming Bitcoin BTC +1.03% Halving.
The halving of bitcoin is anticipated to take place in the next 24 hours, resulting in a reduction in the issuance rewards for miners from the current 6.25 BTC per block to 3.125 BTC.
For BitMEX and cryptocurrency traders, 2024 is a fantastic year. In a statement, BitMEX CEO Stephan Lutz stated, “I think it’s also one of the last chances for those coming late to crypto to still make a difference in their lives and lifestyle.” We want to make sure traders can profit as much as possible from the bull market, which is why we have increased leverage to up to 250x for XBTUSD.
It’s important to remember that using more leverage might also make it more likely that the trade will go bad and require liquidation.
Since its initial release in May 2016, the XBTUSD perpetual swap has amassed over $3 trillion in trading volume on BitMEX alone, making it the most traded cryptocurrency derivatives product ever, according to the exchange.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
