- BitMEX, a well-established cryptocurrency exchange, has entered the options market.
- The exchange has begun offering options services for cryptocurrencies, in partnership with PowerTrade.
- BitMEX CEO, Stephan Lutz, expressed hopes of reaching a trading volume of at least $500 million within three months of launching options trading.
BitMEX, a leading cryptocurrency exchange, ventures into the options market with a new partnership with PowerTrade, aiming to reach a trading volume of $500 million within three months.
BitMEX Enters Options Market
BitMEX, a prominent player in the cryptocurrency market, has announced its entry into the options market. The exchange, established in 2014, has been offering services for spot and futures transactions, and this latest move has been positively received by the market.
Partnership with PowerTrade
As part of its entry into the options market, BitMEX has formed a partnership with PowerTrade. This collaboration is expected to bolster the exchange’s offerings and competitiveness in the options market, which is currently dominated by exchanges like Deribit, Binance, OKX, and Bybit.
Projected Trading Volume
BitMEX CEO, Stephan Lutz, has expressed optimism about the exchange’s foray into the options market. He stated that they hope to reach a trading volume of at least $500 million within the first three months of launching options trading. This ambitious target reflects the exchange’s confidence in the potential of the options market within the cryptocurrency sector.
Conclusion
BitMEX’s entry into the options market marks a significant development in the cryptocurrency sector. With a strategic partnership with PowerTrade and a bold trading volume target, the exchange is poised to make a strong impact in this market segment. This move also indicates the growing interest and investment in options trading within the cryptocurrency industry.
