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BitMEX Implements Fair Price Marking for HYPEUSDTZ25
December 24, 2024 – In a significant move, cryptocurrency derivatives exchange BitMEX has announced the transition to a new mark method for the HYPEUSDTZ25 trading pair. The exchange will now utilize a Fair Price marking system, effective December 24, 2024, at 06:05 UTC.
According to reports, this change is part of BitMEX’s ongoing efforts to enhance trading transparency and accuracy. To achieve this, the company has developed a robust index that aggregates market data from multiple cryptocurrency exchanges, including Gate.io, Kucoin, and Bitget.
The introduction of this new index, dubbed .BHYPET, marks a significant shift in the way prices are determined for HYPEUSDTZ25 trades. This change is aimed at providing a more reliable and fair representation of HYPE’s market value. By incorporating diverse market data, BitMEX aims to mitigate the risks of price manipulation and offer traders a more transparent trading environment.
The impact of this decision extends beyond mere pricing accuracy. The removal of Limit Down and Limit Up price protections for HYPEUSDTZ25 also indicates a move towards a more fluid and market-driven pricing model. This change will allow traders to experience less restrictive trading conditions, ultimately fostering increased user engagement and confidence in the platform.
Industry Context
The adoption of Fair Price marking by BitMEX mirrors a broader trend within the cryptocurrency industry. Exchanges are seeking to enhance the accuracy and fairness of their pricing mechanisms to provide users with a more transparent and reliable trading environment. By incorporating diverse market data, exchanges can reduce the risks of price manipulation and offer traders a fairer experience.
For further information or inquiries regarding these changes, traders are encouraged to contact BitMEX Support for detailed guidance.
Please note that this article is based on publicly available data and should not be considered financial advice.
Source: Blockchain.News
