Ethereum
BitMEX Unveils List of Bitcoin, Ethereum, Cardano and XRP Futures Contracts
Popular crypto exchange, BitMEX, has announced the upcoming listing of new quarterly futures contracts. These announcements are expected to go live on June 11, 2024 at 04:00 UTC, according to the latest announcement. Additionally, this move signifies a strategic expansion of its offering, covering major cryptocurrencies including Bitcoin (BTC)Ripple’s Ethereum (ETH) and XRP, among others.
Bitcoin, Ethereum and XRP Futures Listing Details
New futures contracts are visible as unlisted on the BitMEX platform. Additionally, these listings will provide traders with a variety of options for engaging in the crypto market in 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 the following:
- ADAU24 (Cardano/Bitcoin) will be listed on June 11, 2024 and settled on September 27, 2024.
- ETHU24 (Ethereum/Bitcoin) whose listing is scheduled for June 11, 2024 and settlement for September 27, 2024.
- ETUSDU24 (Ethereum/USD) which will be listed on June 11, 2024, settled on September 27, 2024.
- XRPU24 (XRP/Bitcoin) will be listed on June 11, 2024 and settled on September 27, 2024.
- XBTH25 (Bitcoin/USD) is expected to be listed on June 11, 2024 and settled on March 28, 2025.
- XBTUSDTU24 (Bitcoin/USDT), scheduled for listing on June 11, 2024, will be settled on September 27, 2024.
Read also: XRP price: Whales mix 318 million coins as price rises to $0.52
Strategic Implications of New Registrations
The new listings are designed to meet the growing demand for diversified trading instruments in the cryptocurrency market. Additionally, by offering futures contracts expiring quarterly, BitMEX aims to provide traders with more accurate tools for hedging, speculation, and risk management. Additionally, these contracts allow traders to take a position on the future price movements of these cryptocurrencies with a clear settlement schedule.
Additionally, it will improve market liquidity and stability, which could have a higher impact on the prices of Bitcoin, Ethereum, XRP and Cardano. This announcement was eagerly received by the trading community as it provides more robust options for portfolio diversification.
The inclusion of Ether/USD and Bitcoin/USD The contracts, in particular, reflect BitMEX’s response to the evolving preferences of its users who seek exposure to USD-denominated futures contracts. Therefore, this move is expected to consolidate BitMEX’s position as a leading platform for cryptocurrency derivatives trading.
Read also: Bitcoin Miner Bitdeer Releases BTC Mining Chip Roadmap to Reduce Power Consumption
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