BitMEX Launches Options Trading with PowerTrade

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As an experienced analyst, I believe that this collaboration between BitMEX and PowerTrade is a strategic move aimed at expanding their market share in the niche crypto derivatives market. BitMEX’s reputation for high leverage perpetual swaps has always attracted traders looking for significant returns, and now with options trading, they are positioning themselves to cater to the needs of institutional investors as well.

As a researcher studying the latest developments in the cryptocurrency derivatives market, I’m excited to report that BitMEX, a prominent player in this space, has recently teamed up with PowerTrade, an innovative crypto options platform, to introduce options trading on their exchange. PowerTrade counts notable investors such as Ascend Ventures, Pantera Capital, and Ledger Prime among its backers.

Known for its continuous swaps and up to 100x leverage, BitMEX raised the stakes by offering 250x leverage for its Bitcoin perpetual swap prior to the halving. BitMEX aspires to capture a substantial portion of this specialized market, going head-to-head with established players such as Deribit, which it describes as a “long-standing crypto derivatives powerhouse.”

According to CEO Stephan Lutz of BitMEX, the firm aims to achieve a trading volume of $500 million within the next three months. Furthermore, he mentioned that all current operational regions should be prepared to offer options trading.

As a crypto investor, I’ve noticed that Deribit held a significant dominance in the bitcoin options market during April, accounting for approximately 70% or $35.7 billion of the total trading volume which was $51.1 billion. In contrast, OKX and Binance, two major exchanges, represented smaller portions with 16% ($8.4 billion) and 9% ($4.8 billion) respectively.

As a researcher, I’ve come across the BitMEX options platform, which is reportedly packed with comprehensive institutional-grade options for various assets including dogecoin, ether, bitcoin, XRP, BNB, solana, and ether. The platform assures its users that they will be adding more options in the near future.

During times of market turbulence, derivatives traders may find significant advantages in employing Crypto Options, as noted by Lutz.

At the forefront of derivatives exchanges, we aim to equip BitMEX users with top-tier tools to enhance their capabilities and trading approaches. This includes managing risks through hedging, optimizing positions, or profiting from heightened volatility’s recent surge. (Lutz emphasized.)

I, as an analyst, would express that in the new BitMEX options platform, PowerTrade’s trader-focused solutions are integrated with BitMEX’s extensive liquidity and unwavering reliability. This collaboration offers traders effortless access to top-tier financial instruments.

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2024-05-08 21:24