Updated: June 5, 2024, 7:02 AM EDT
The Seychelles-based cryptocurrency derivatives exchange announced Wednesday that it will increase the maximum leverage on its Ether perpetual product to 200x.
This increase in leverage comes as the U.S. Securities and Exchange Commission (SEC) recently approved a spot Ether ETF, which has increased market volatility.
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According to BitMEX CEO Stephan Lutz, changes in sentiment on Wall Street could significantly amplify volatility in the Ethereum market. “This is why the 200x leverage on ETHUSD perpetual swap could not have come at a better time. Ethereum has seen remarkable growth over the past year, with its price soaring 100% amidst increasing institutional adoption.” said Lutz.
Leverage booster available for isolated margin positions
BitMEX users can use the new leverage by enabling Leverage Booster in settings and then selecting up to 200x ETHUSD in the order form. Increased leverage only applies to isolated margin positions.
This is not the only high leverage feature that BitMEX offers traders. Last April, the derivatives exchange launched 250x leverage for Bitcoin perpetual swaps. In 2023, BitMEX launched over 120 new derivatives contracts, including prediction markets and pre-launch listings.
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