BitMEX Now Announces To Launch Its 1st Spot Market!

BitMEX Now Announces To Lauch Its First Spot Market!

BitMEX, the longest-running cryptocurrency futures exchange, has launched a variety of spot markets on its platform just three days before its founders Arthur Hayes is set to be sentenced.

BitMEX will allow seven trading pairs against USDT, including Bitcoin (BTC), Ether (ETH), Chainlink’s LINK, Uniswap’s UNI, Polygon’s MATIC, Axie Infinity’s AXS, and APE. Users who trade on the spot pairings will get $1 million in crypto, according to the well-known crypto exchange.

The new spot market’s user interface is more pleasant than the previous derivatives platform, with softer typefaces and warmer colors.

“It is completely different from our classic look and feel,” said BitMEX Vice President of spot Genia Mikhalchenko.

“We are hoping to break into the top 15 spot markets over the next 12 to 16 months,” he added. “We want to ride this wave back up as the market turns around.”

The digital assets exchange, which debuted in 2014, was regarded as the market’s leading derivatives exchange since it was the first to provide perpetual swap contracts, which are basically futures contracts with no expiration date that need less margin and allow for more leverage.

After Hayes was charged by US authorities in 2020 for aiding unregistered trading and other violations, BitMEX’s popularity decreased. When Hayes is sentenced on Friday, he might face a term of six to twelve months in jail.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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