BitMEX to List New XBT Futures Contract Expiring in October 2024
Zach Anderson Aug 26, 2024 10:12
BitMEX announces the listing of a new XBT futures contract, underlined and margined in Bitcoin, set to expire on October 25, 2024.
BitMEX, a leading cryptocurrency derivatives exchange, has announced the listing of a new XBT futures contract. According to the BitMEX Blog, the new contract will be underlined and margined in Bitcoin (BTC) and is set to go live on August 27, 2024, at 04:00 UTC. The contract is scheduled to expire on October 25, 2024.
Contract Specifications
The XBT futures contract will feature several notable specifications:
- Expiring on October 25, 2024
- Bitcoin-margined
- Cash settled
- Up to 100x leverage
- 75 XBT risk limit
The contract is currently live on the BitMEX Testnet, where users can review its specifications and test the platform's functionalities. The contract is also visible as 'Unlisted' on the main platform, allowing users to familiarize themselves with it ahead of the official launch.
Market Impact
The introduction of this new futures contract is seen as a strategic move by BitMEX to enhance its product offerings and provide traders with more options for managing their Bitcoin exposure. The high leverage of up to 100x could attract significant interest from traders looking to maximize their positions.
BitMEX has been a prominent player in the cryptocurrency derivatives market, known for its innovative products and robust trading infrastructure. The addition of this new XBT futures contract aligns with the exchange's ongoing efforts to remain competitive in the rapidly evolving crypto landscape.
For any inquiries or further information, users are encouraged to contact BitMEX support through their official support page.
Image source: Shutterstock