BitMEX to List Futures for New Crypto Coins for First Time in Over 2 Years

Friday 04 September 2020, 1:55 PM AEST - 1 month ago

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BitMEX said early Friday morning it plans to introduce futures markets for two cryptocurrencies, the first new coins to appear on the exchange in over two years.

  • The stalwart cryptocurrency derivatives exchange announced new futures markets for chainlink (LINK) and tezos (XTZ), two cryptocurrencies with triple-digit year-to-date returns, in addition to new contracts for EOS and cardano (ADA), two coins already traded in futures markets on BitMEX.
  • Tezos has traded on BitMEX before, however. Prior to the projects initial coin offering (ICO) in 2017, XTZ/BTC futures were listed on BitMEX and settled at the sale price of 0.0002 BTC per tezos.
  • The last time BitMEX listed a new token was June 2018, when it announced a TRON/BTC futures market.
  • Shortly before that announcement, the exchange removed six altcoin futures markets, including ethereum classic (ETC), zcash (ZEC), and monero (XMR).
  • Notably, the new altcoin futures will trade against tether (USDT) instead of bitcoin (BTC). In Friday's announcement, BitMEX said the reason for this is because USDT pairs account for over 60% of overall altcoin volume. By listing tether pairs, we are providing users with the trading options to better meet their needs, BitMEX said.
  • More details are to come later Friday, the Seychelles-based exchange said.

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