Timothy Morano
December 24, 2024 10:29
BitMEX has switched its marking method for HYPEUSDTZ25 to fair price marking using a new index that integrates market data from Gate.io, Kucoin, and Bitget.
BitMEX has announced that the marking method for the HYPEUSDTZ25 trading pair will switch to a fair price marking system starting December 24, 2024, at 06:05 UTC. According to BitMEX, this adjustment is part of BitMEX’s ongoing efforts to improve trading transparency and accuracy.
Introduction of strong indices
The transition to fair price marking was facilitated by the development of a new index that accurately reflects HYPE’s spot price. Known as .BHYPET, the index aggregates data from several cryptocurrency exchanges, including Gate.io, Kucoin, and Bitget. BitMEX aims to leverage this comprehensive data set to provide a more reliable and fair representation of the market value of HYPE.
Impact on Transaction Protection
With the implementation of fair price marking, BitMEX also removed the price cap and price limit protection for HYPEUSDTZ25. This change marks a shift to a more liquid, market-driven pricing model, which allows traders to experience less restrictive trading conditions.
industry situation
BitMEX’s adoption of fair price marking reflects a broader trend within the cryptocurrency industry where exchanges are seeking to improve the accuracy and fairness of their pricing mechanisms. By integrating diverse market data, exchanges can mitigate the risk of price manipulation and provide traders with a more transparent trading environment.
Traders with additional questions are encouraged to contact BitMEX Support for more information about these changes.
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