BitMEX, a renowned cryptocurrency derivatives exchange, has recently made headlines with its announcement of listing two new perpetual contracts, known as PEPE and SUI. While BitMEX holds the distinction of being the first derivatives exchange to list SUI Perpetuals Contracts, it takes second place in listing PEPE Perpetuals Contracts.
The sudden rise of PEPE, which saw its market capitalization soar to $137 million in less than a week, has left its holders concerned about liquidity. The rapid ascent also poses a challenge, as selling large positions could substantially bring down the token’s price. By offering PEPE Perpetual Contracts, BitMEX paves the way for traders to gain exposure to the token without the dread of illiquid markets.
According to a BitMEX spokesperson, “Perpetual Contracts are the most traded product in crypto and offer all investors taking a long or short position on tokens with better liquidity and fewer network risks.” Additionally, BitMEX takes pride in being the inventor of the Perpetual Swap and maintaining its status as a leading trading venue for crypto derivatives, which offers uncompromised security, a reliable platform, and deep liquidity.
BitMEX traders now have the opportunity to long or short PEPE via two listings – PEPEUSD and PEPEUSDT. Both listings were launched on May 3, 2023, at 04:00 UTC, offering traders up to 50x leverage. Similarly, the SUI Token is available as a Bitcoin-margined perp, SUIUSD, and Tether-margined SUIUSDT perp. Both contracts began trading on May 3, 2023, at 12:11 UTC, also providing up to 50x leverage.
The addition of the SUI Perpetual Contract to BitMEX’s listings expands the range of trading options for its users. By trading PEPE and SUI listings, users can benefit from up to 50x leverage and some of the highest max position sizes in the industry. This allows for a dynamic and versatile trading experience that caters to both novice and seasoned traders.
BitMEX is a leading crypto trading platform that offers users access to the global digital asset financial markets. Owned by HDR Global Trading Limited, BitMEX allows users to stay up to date with its vision and developments by following them on various social media platforms.
Source: CryptoPotato
