BitMEX Introduces Trading Options for DOGE (Dogecoin), XRP (Ripple), and SOL (Solana): A New Era in Crypto Market

  • BitMEX, a leading cryptocurrency exchange, has announced the launch of options trading in collaboration with derivatives platform PowerTrade.
  • The new offering includes options for Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies such as Dogecoin (DOGE), XRP, and Solana (SOL).
  • This move positions BitMEX as a competitor to Deribit, a Panama-based crypto giant that dominates the crypto options volume.

BitMEX, a renowned cryptocurrency exchange, partners with PowerTrade to introduce options trading, expanding its product offerings and providing traders with more opportunities.

BitMEX Introduces Options Trading

BitMEX, in partnership with PowerTrade, has rolled out options trading, a popular derivative that allows traders to buy or sell the underlying cryptocurrency at a predetermined price in the future. The exchange now offers options for Bitcoin (BTC) and Ethereum (ETH), as well as other cryptocurrencies like Dogecoin (DOGE), Ripple-affiliated XRP, and Solana (SOL).

Competing with Deribit

By launching these new products, BitMEX is positioning itself as a competitor to Deribit, a Panama-based crypto giant that accounts for the majority of the total crypto options volume. All options products on BitMEX are priced in Circle’s USDC, the second-largest stablecoin by market cap. Traders can margin the options with Bitcoin, USDT, and USDC.

Attractive Features and Promotions

BitMEX has made its options more attractive by setting relatively low minimum trade sizes (just 0.01 for Bitcoin). Additionally, throughout this month, BitMEX users can trade options with zero fees. Those who deposit at least $1,000 and execute at least a single trade will receive a 20 USDC bonus. The exchange has also emphasized its “industry-leading security,” claiming that it has not lost any crypto since its establishment in 2014.

Conclusion

BitMEX’s introduction of options trading, in collaboration with PowerTrade, marks a significant expansion of its product offerings. This move not only provides traders with more opportunities but also positions BitMEX as a formidable competitor to Deribit in the crypto options market. With attractive features and promotions, BitMEX is likely to attract a significant number of traders to its new options products.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin’s Crucial Price Points: Analyzing $95,000 and $93,000 for Liquidation Impacts

COINOTAG News reports that as of April 28th, market...

Grayscale Advocates for Ethereum ETP Staking to Boost Security and Shareholder Returns

On April 28th, COINOTAG News reported that Grayscale convened...

Massive $66.92 Million LAYER Token Withdrawal from Binance: The Rise of Wallet AEZok

In a significant development for the crypto market, recent...

Arbitrum Dominates with $3.132 Billion Net Inflow, Leading All Public Chains

According to data from DefiLlama, as of April 28th,...

Whale Transfers 35,000 SOL to Binance Amidst $192 Million Unstaking of 1.32 Million SOL

Recent data from Onchain Lens highlights notable movements within...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img