Ascend

Bitcoin

BitMEX, a leading crypto derivatives exchange, has introduced options trading in collaboration with PowerTrade, a crypto options platform with backers including Ascend Ventures, Pantera Capital, and Ledger Prime. 
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 BitMEX invented the perp – now we’re reinventing options. In partnership with <a href="https://twitter.com/PowerTradeHQ?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@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. ➕ We’ve got some exciting rewards for our first… <a href="https://t.co/flKnbdLgVE" target="_blank">pic.twitter.com/flKnbdLgVE</a>— BitMEX (@BitMEX) <a href="https://twitter.com/BitMEX/status/1788195185320665558?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 8, 2024</a>
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Renowned for its perpetual swaps with leverage up to 100x, BitMEX has increased leverage to 250x for its Bitcoin perpetual swap before the halving. BitMEX aims to gain a significant market share in this niche, competing with platforms like Deribit, which it refers to as a “crypto OG bullfight.” 
Details-wise, BitMEX CEO Stephan Lutz said that the company hopes to reach at least $500 million in trading volume in three months and that all of the regions where BitMEX is now operating would be able to provide options trading. 
In April, Deribit dominated the bitcoin options market, representing 70% ($35.7 billion) of the $51.1 billion trading volume. OKX and Binance, major exchanges, trailed with 16% ($8.4 billion) and 9% ($4.8 billion) respectively. 
According to the company, the BitMEX options platform provides a “full suite” of institutional quality options for assets such as dogecoin, ether, bitcoin, XRP, BNB, solana, and ether. The platform also promises to add more options soon. 
Lutz said that derivatives traders can benefit greatly from using Crypto Options, particularly during periods of market volatility.’ 
“As a leading derivatives exchange, we want to empower BitMEX users with the optimal tools to maximize their potential and trading strategies, whether it’s hedging risks, positioning or capitalizing on the recent surge in implied volatility,” Lutz added.&nbsp; 
PowerTrade CEO Mario Gomez Lozada said that the trader-centric options solution from PowerTrade is combined with BitMEX’s substantial liquidity and unmatched dependability in the new BitMEX options platform, giving traders easy access to the best financial products. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/01/bitmex-warns-of-47-bitcoin-mining-hashrate-centralization/" target="_blank" rel="noreferrer noopener">BitMEX Warns of 47% Bitcoin Mining Hashrate Centralization&nbsp;</a> 
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BitMEX Launches Options Trading with PowerTrade

The Crypto Times

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