BitMEX Boosts Leverage Limit to 250x for Its Bitcoin Perpetual Swap Contract

Last updated:

April 19, 2024 07:58 EDT

| 1 min read

In an enhancement of its Bitcoin perpetual swap offering, BitMEX has raised the bar by allowing 250x leverage, a significant leap from the prior 100x, as anticipation builds for the Bitcoin halving event.

Traders eager to leverage expected market volatility requested the enhancement, which BitMEX has communicated in a press announcement circulated to Cryptonews.

A perpetual swap is a financial instrument tailored to give traders an opportunity to assume significant cryptocurrency positions with minimal initial capital.

Stephen Lutz, the CEO of BitMEX, emphasized that the increased leverage enables traders to maximize gains during bull markets.

Since introducing 100x leverage in May 2016, BitMEX anticipates a prosperous 2024 for both the exchange and the crypto trading community.

BitMEX is focused on introducing timely and profitable trading options for cryptocurrency enthusiasts, according to CEO Lutz.

Enhanced liquidity for perpetual swaps on BitMEX permits traders to execute larger, highly leveraged trades. Additionally, the exchange ensures an extra layer of security for participants through its Insurance Fund.

BitMEX’s XBTUSD perpetual swap has generated an impressive trading volume above US$3 trillion on the platform. The exchange also plans to incentivize users who trade with 250x leverage on perpetual contracts.

BitMEX Introduces a Novel Perpetual Swap Backed by Tether Gold

BitMEX has also launched a new perpetual contact labeled XAUtUSD, which is paired with XAUt (Tether Gold), starting with 25x leverage.

Tether Gold, tied to physical gold, provides users with a blockchain-oriented method of buying, holding, and transacting with gold ownership.

XAUtUSD trading commenced on Thursday, featuring a constant Bitcoin multiplier independent of the XAUt/USD spot rate. This contract allows traders to speculate on the XAUt/USD pair by going long or short without directly dealing in XAUt or USD, as disclosed in the BitMEX announcement.