Dogecoin

Bank

Bitcoin

Eden

<a href="https://bitcoinworld.co.in/bitmex-partnered-with-powertrade-to-launch-deribit-challenger/" title="BitMEX Partnered With PowerTrade To Launch Deribit Challenger" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">BitMEX partnered with PowerTrade to launch an options trading platform that will offer a full range of institutional-grade options for digital assets.</li>
</ul>
Renowned crypto derivative exchange BitMEX recently partnered with PowerTrade to introduce options trading to its platform.&nbsp;
With this new addition, BitMEX aims to compete with Deribit to capture a substantial market share in this niche.
<h3 id="span-style-font-weight-400-bitmex-rivals-deribit-span">BitMEX Rivals Deribit</h3>
Stephan Lutz, CEO of BitMEX revealed in a recent <a href="https://www.theblock.co/post/293124/bitmex-options-trading" rel="noopener noreferrer nofollow">statement</a> that the firm aims to capture at least $500 million in trading volume within three months.&nbsp;
Aligning with this move, the CEO said BitMEX will offer options trading in all regions where BitMEX is currently active.
“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,” Luz added.
Deribit has dominated the market since 2020. It accounts for 70% ($35.7 billion) of the $51.1 billion in trading volume for Bitcoin options in April.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/rwanda-central-bank-proceeds-with-ambitious-retail-cbdc-project/" aria-label="“Rwanda Central Bank Proceeds With Ambitious Retail CBDC Project” (Edit)" rel="noopener noreferrer nofollow">Rwanda Central Bank Proceeds With Ambitious Retail CBDC Project</a>
Besides BitMEX, other top crypto exchanges like Binance and OKX have also attempted to compete with Deribit for market share.
So far, these exchanges have had minimal success. While OKX generated about 16% of the last month’s trading volume valued at $8.4 billion, Binance recorded 9% ($4.8 billion).
BitMEX said its options trading platform will offer a full range of institutional-grade options for digital assets.&nbsp;
The assets in view include Bitcoin (BTC), Ethereum (ETH), Ripple’s XRP, Binance Coin (BNB), Dogecoin (DOGE), and Solana (SOL). In the future, the company plans to grow to incorporate more cryptocurrencies.
Mario Gomez Lozada, CEO of Power Traded commented on the partnership, stating, “The new BitMEX options platform merges PowerTrade’s trader-centric options solution with BitMEX’s deep liquidity and unparalleled reliability, empowering traders with seamless access to the most performant financial products.”
<h3 id="span-style-font-weight-400-bitmex-crypto-options-trading-strategy-span">BitMEX Crypto Options Trading Strategy</h3>
The company’s initial approach focuses on offering customers free options trading for May. Additionally, there will be monthly trading competitions, incentives based on trading volume, and referral trading volume.&nbsp;
As a result, a $20 onboarding bonus will be given to the first 1,000 new options traders.
BitMEX’s options fee structure would come after the zero-fee promotion period. Luz confirmed that the fee structure would replicate its current spot trading pricing. Luz added that the exchange will provide educational materials such as basic explainers.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/magic-eden-partners-with-aphone-to-list-decentralized-web3-phone-with-airdrop-rewards/" aria-label="“Magic Eden Partners With APhone To List Decentralized Web3 Phone With Airdrop Rewards” (Edit)" rel="noopener noreferrer nofollow">Magic Eden Partners With APhone To List Decentralized Web3 Phone With Airdrop Rewards</a>
Additionally, it will offer strategy examples, and a step-by-step video tour, to users who are unfamiliar with options trading or the BitMEX platform.
Furthermore, BitMEX said it can also fight for market dominance by offering a user-friendly and robust options trading interface through an order book and Request-for-Quote (RFQ) with reduced counterparty risk.
Typically, RFQ allows traders to receive electronic quotations and execution for single-leg (e.g., purchasing a call) or multi-leg (e.g., buying a call and selling a put concurrently) options strategies with no minimum restrictions.&nbsp;
With the grand plans, it remains to be seen whether BitMEX will succeed in grabbing a market share in the Options market from Deribit.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/bitmex-partnered-with-powertrade-to-launch-deribit-challenger/" rel="noopener noreferrer nofollow">BitMEX Partnered With PowerTrade To Launch Deribit Challenger</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

BitMEX Partnered With PowerTrade To Launch Deribit Challenger

Table of Contents

ItsBitcoinWorld

Outros artigos publicados em 10 de mai. de 2024

Tackling the Threat of Deceptive AI: Researchers Issues Urgent Warming

Launch of Highly Anticipated Project’s Airdrop Distribution Announced: This is the Time and Place

FRIEND, AKT and GRT prices soar as Bitcoin falls below $62k

Dogecoin Predicts Another Major Price Leap

$300M Scandal Rocks Binance: Fired Investigators Accuse DWF Labs Of Manipulative Trading

BitMEX Options Trading Platform Launched With Target Of $500 Million Volume In 3 Months

Join our free newsletter for daily crypto updates!