BitMEX Launches USDTUSDC Perpetual Swap For Trading
BitMEX, a popular cryptocurrency trading platform, has announced that from 12 March at 04:00 UTC, traders will be able to long or short USDC via their USDTUSDC perpetual swap. The new perpetual listing will enable traders to speculate on the price of USD Coin, and enjoy up to 10x leverage and one of the highest max position sizes in the industry.
BitMEX launched the USDTUSDC perpetual swap, traders can use Bitcoin (XBT) to pay margins, and the maximum leverage is 10x. https://t.co/28hdHMJn6v
— Wu Blockchain (@WuBlockchain) March 11, 2023
USDTUSDC Perpetual Swap
The USDTUSDC product has a fixed Bitcoin multiplier, meaning that traders can long or short the USDT/USDC exchange rate without ever touching USDT or USDC. Traders can post margin in Bitcoin (XBT), and earn or lose in XBT as the USDT/USDC rate changes. This quanto risk premium may be one of the factors that results in the USDTUSDC perpetual swap trading at a premium or discount to the USDT/USDC spot price.
The addition of the USDTUSDC perpetual swap to BitMEX’s trading offerings will provide more options for traders who want to trade USDC, which is one of the fastest-growing stablecoins in the market. USD Coin has been growing in popularity as a stablecoin that is backed by US dollars held in reserve accounts, making it a more stable and secure asset for traders to use in their trades.
Expanding Trading Offerings
BitMEX is one of the most widely used cryptocurrency exchanges, and the addition of the USDTUSDC perpetual swap will likely attract more traders to the platform. However, traders should be aware of the risks associated with trading cryptocurrencies, as the market can be highly volatile and unpredictable.
Overall, the addition of the USDTUSDC perpetual swap to BitMEX’s trading platform will provide traders with more options to trade and speculate on the price of USD Coin, and will likely attract more traders to the platform.
