The BitMEX exchange announced the launch of perpetual contracts based on the Bitcoin Cash (BCH) crypto.
As announced in the press release, these are swap contracts with a leverage of up to 25x; they will be available from June 16th. This is the fourth product in the series after the perpetual contracts on BTC, XRP and ETH which were launched only recently.
The contract is already active on the testnet and its functionality can begin to be tested. These are its details:
- Symbol: BCHUSDM20;
- Bitcoin Multiplier: 0.000001 XBT (100 Satoshis);
- XBT Contract Value: BCHUSD Price * Bitcoin Multiplier (100 Sat/$1);
- Underlying: .BBCH;
- Max Leverage: 25x;
- Maker Fee: -0.025%;
- Taker Fee: 0.075%;
- Base Initial Margin: 4.00%;
- Base Maintenance Margin: 2.00%.
BitMEX thereby improves the offer of its products in the financial sector as far as cryptocurrencies are concerned, expanding those that are the assets used to trade with advanced tools, sometimes opposed by certain exponents because very high leverage provides the opportunity to manipulate the market.
BitMEX’s latest news
It is worth pointing out that recently the exchange suffered some problems, such as closure to the Japanese market, a DDoS attack, as well as hardware problems and the recent money laundering lawsuit.
At the same time, Bitcoin Cash (BCH) is seeing significant growth in terms of features and tools: in fact, Cashfusion is almost ready, which will increase the privacy of transactions.
The Bitcoin Cash network was updated a couple of weeks ago. The governance has also undergone changes: after the farewell of Bitcoin.com CEO, Stefan Rust, the company is now relying on the new CEO Dennis Jarvis.