BitMEX Unveils Bitcoin, Ethereum, Cardano & XRP Futures Listing
Popular crypto exchange, BitMEX, has announced the upcoming listing of new quarterly futures contracts. These listings are set to go live on June 11, 2024 at 04:00 UTC, according to the latest announcement. Moreover, this move signifies a strategic expansion in its offerings, covering key cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Ripple’s XRP, among others.
Details On Bitcoin, Ethereum, XRP Futures Listing
The new futures contracts are visible as unlisted on the BitMEX platform. Furthermore, these listings will provide traders with a variety of options to engage in the crypto market for 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 are as follows:
- ADAU24 (Cardano/Bitcoin) will be listed on June 11, 2024 and settle on September 27, 2024.
- ETHU24 (Ethereum/Bitcoin) scheduled for listing on June 11, 2024 with settllement on September 27, 2024.
- ETHUSDU24 (Ethereum/USD) to be listed on June 11, 2024, settles on September 27, 2024.
- XRPU24 (XRP/Bitcoin) will be listed on June 11, 2024, settlement on September 27, 2024.
- XBTH25 (Bitcoin/USD) set for listed on June 11, 2024 and settlement on March 28, 2025.
- XBTUSDTU24 (Bitcoin/USDT) slated for listed on June 11, 2024, will be settled on September 27, 2024.
Also Read: XRP Price: Whales Shuffle 318M Coins as Price Holds $0.52 Support
Strategic Implications Of New Listings
The new listings are designed to cater to the increasing demand for diversified trading instruments within the cryptocurrency market. Moreover, by offering futures contracts that expire quarterly, BitMEX aims to provide traders with more precise tools for hedging, speculation, and managing risk. In addition, these contracts enable traders to take positions on the future price movements of these cryptocurrencies with a clear settlement timeline.
Furthermore, it’ll enhancing market liquidity and stability, potentially impacting Bitcoin, Ethereum, XRP, and Cardano prices higher. This announcement has been met with anticipation by the trading community, as it offers more robust options for portfolio diversification.
The inclusion of Ether/USD and Bitcoin/USD contracts, in particular, reflects BitMEX’s response to the evolving preferences of its users who seek exposure to USD-denominated futures. Hence, the move is expected to solidify BitMEX’s position as a leading platform for cryptocurrency derivatives trading.
Also Read: Bitcoin Miner Bitdeer Releases BTC Mining Chip Roadmap To Reduce Energy Use
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