BitMEX, a leading cryptocurrency derivatives exchange, has announced the listing of a new XBT futures contract. According to the BitMEX blog, the new contract will be backed and margined in Bitcoin (BTC) and is scheduled to go live on August 27, 2024, at 04:00 UTC. The contract is scheduled to expire on October 25, 2024.

Contract specifications

The XBT futures contract has several notable specifications:

• Expires on October 25, 2024
• Bitcoin Margin
• Cash settlement
• Up to 100x leverage
• 75 XBT risk limit

The contract is currently active on the BitMEX testnet, where users can check its specifications and test the platform’s features. The contract is also visible as “Unlisted” on the main platform, allowing users to familiarize themselves with it before the official launch.

Impact on the market

The launch of this new futures contract is seen as a strategic move by BitMEX to expand its product offering and provide traders with more options to manage their Bitcoin exposure. The high leverage of up to 100x could attract significant interest from traders looking to maximize their positions.

BitMEX is a major player in the cryptocurrency derivatives market, known for its innovative products and robust trading infrastructure. The addition of this new XBT futures contract is in line with the exchange’s ongoing efforts to remain competitive in the rapidly evolving crypto landscape.

If you have any questions or need more information, users are requested to contact BitMEX support via the official support page.

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