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BitMEX to Launch VELOUSDT Perpetual Swaps with 50x Leverage
In a move aimed at enhancing its derivatives offerings and catering to the growing demand for diverse trading instruments in the cryptocurrency market, BitMEX has announced the launch of VELOUSDT perpetual swaps with up to 50x leverage. The new listing is set to go live on December 16, 2024.
The introduction of VELOUSDT perpetual swaps will provide traders with a powerful tool to hedge or speculate on the price movements of VELO with significant leverage. This development marks a significant opportunity for traders looking to capitalize on the volatility of VELO.
Perpetual swaps are a type of derivative product that mimics a margin-based spot market, but with no expiry or settlement date. Unlike traditional futures contracts, perpetual swaps trade close to the underlying reference index price due to mechanisms such as funding rates. This format allows users to hold positions indefinitely, providing more flexibility in trading strategies.
The addition of VELOUSDT perpetual swaps will not only enhance liquidity and increase trading volumes on BitMEX but also lead to greater price discovery and market efficiency for VELO.
Source: Blockchain.News
