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BitMEX, a leading cryptocurrency derivatives exchange, has officially launched a new options trading platform in collaboration with PowerTrade, a specialized crypto options platform. This partnership leverages the robust features of both companies, providing a comprehensive suite of options for major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE). The initiative marks a significant step for <a href="https://coingape.com/xrp-and-atom-listing-unveiled-on-bitmex-price-rally-in-view/" rel="noopener noreferrer nofollow">BitMEX</a> as it expands its product offerings beyond its well-known futures and <a href="https://coingape.com/binance-launches-doge-perpetual-contract-with-75x-leverage/" rel="noopener noreferrer nofollow">perpetual contracts</a>.
The newly unveiled platform is designed to cater to institutional traders, boasting features that align with the highest industry standards for performance and security. PowerTrade’s CEO, Mario Gomez Lozada, emphasized the synergy between BitMEX’s deep market liquidity and PowerTrade’s trader-focused technology. This collaboration aims to deliver a trading experience that is both seamless and superior in performance, catering to the needs of serious traders seeking effective and efficient trading tools.
<h2 id="strong-bitmex-launches-zero-fee-options-trading-strong">BitMEX Launches Zero Fee Options Trading</h2>
To attract traders to its new platform, BitMEX is implementing a promotional campaign that includes zero trading fees on all options transactions throughout May. Additionally, the first 1,000 new traders to join the platform will receive a $20 bonus, further incentivizing participation. The platform also offers rewards based on trading volume and referred trading volumes alongside monthly trading competitions, adding an element of competition and potential profit for active users.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BitMEX invented the perp – now we’re reinventing options.
 In partnership with <a href="https://twitter.com/PowerTradeHQ?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@PowerTradeHQ</a>, we’re excited to introduce BitMEX Options – where you can trade a wide range of crypto options margined in Bitcoin, USDT, or USDC.
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2795.png" alt="➕" class="wp-smiley" style="height: 1em; max-height: 1em;"> We’ve got some exciting rewards for our first… <a href="https://t.co/flKnbdLgVE" rel="noopener noreferrer nofollow">pic.twitter.com/flKnbdLgVE</a>
 — BitMEX (@BitMEX) <a href="https://twitter.com/BitMEX/status/1788195185320665558?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 8, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
After the promotional period ends, BitMEX’s fee structure for options trading will align with that of its existing spot trading framework. This move is part of BitMEX’s strategy to integrate the options platform smoothly into its current ecosystem, ensuring that users have a consistent and predictable cost model when trading across different types of digital assets.
<h2 id="strong-market-reacts-as-xrp-price-drops-strong">Market Reacts as XRP Price Drops</h2>
BitMEX’s new options platform allows traders to use multiple types of cryptocurrencies as collateral, such as Bitcoin, Ethereum, and<a href="https://coingape.com/binance-remove-btc-eth-usdt-pair-here-all/" rel="noopener noreferrer nofollow"> USDT</a>, with options priced and settled in USDC. This flexibility in settlement and collateral not only streamlines the trading process but also reduces the costs associated with currency conversion that traders typically face on other platforms. According to BitMEX, this approach is aimed at providing a more accessible and user-friendly experience for traders in the crypto options market.
Despite these advancements, the market reaction has been mixed. Following the announcement, <a href="https://coingape.com/price/xrp/#:~:text=Live%20Price%20of%20XRP%20(XRP,market%20cap%20stands%20at%20%2428%2C783%2C933%2C282." rel="noopener noreferrer nofollow">Ripple’s XRP</a> price showcased a slight decline, falling by 2.11% to a current price of $0.5262. Meanwhile, <a href="https://coingape.com/price/bitcoin/#:~:text=Live%20Price%20of%20Bitcoin%20(BTC,market%20cap%20stands%20at%20%241%2C266%2C732%2C713%2C723." rel="noopener noreferrer nofollow">Bitcoin</a> also experienced a modest decrease, dropping by 1.04% to $62,470. These market movements highlight the complex dynamics of cryptocurrency markets, where news and developments can have varied impacts on different assets.
Read Also:<a href="https://coingape.com/stablecoin-issuer-tether-plots-europe-expansion-with-citipay-investment/" rel="noopener noreferrer nofollow"> Stablecoin Issuer Tether Plots Europe Expansion With CitiPay Investment</a>
The post <a href="https://coingape.com/just-in-bitmex-launches-bitcoin-eth-sol-xrp-doge-options/" rel="noopener noreferrer nofollow">Just-In: BitMEX Launches Bitcoin, ETH, SOL, XRP, DOGE Options</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Just-In: BitMEX Launches Bitcoin, ETH, SOL, XRP, DOGE Options

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