Nikolas Sargeant
According to a press release shared with Cryptonews, this move aligns with the recent regulatory approval of Ethereum Spot exchange-traded funds (ETFs) in the US. BitMEX claims this approval has heightened market volatility, prompting the exchange to offer traders a way to capitalize on the dynamic Ethereum market.
To access the new leverage, BitMEX users must enable the Leverage Booster in their settings and select up to 200x for ETHUSD in their order forms. This feature is available exclusively for Isolated Margin positions.
Risk limits and leverage settings remain unchanged, with a 5 BTC cap for ETHUSD. Thus, the enhancement won't disrupt current risk management parameters, allowing traders to safely adjust their strategies.
BitMEX CEO Stephan Lutz highlighted that "shifts in Wall Street sentiment will boost Ethereum market volatility," making the 200x leverage for the ETHUSD perpetual swap timely.
The past year’s growth and price volatility in Ethereum, driven by increased institutional adoption, have created a favorable environment for savvy traders to potentially multiply their profits.
Meeting Demand
BitMEX introduced the Perpetual Swap in 2015, which has since become the most widely traded crypto product. Lutz emphasized that the company's mission, as the inventors of the 100x perpetual swap, has always been to create opportunities for traders to achieve significant returns.
In April, BitMEX increased the leverage on its Bitcoin perpetual swap (XBTUSD) from 100x to 250x, anticipating volatility ahead of Bitcoin’s fourth halving. This move resulted in increased trading activities on the platform.
The latest update to the ETHUSD perpetual swap is another tool for traders to amplify their gains, reflecting the changing demand and risk appetite of professional traders in a bullish market.
BitMEX plans to extend the Leverage Booster to other tokens. Last year, the exchange launched over 120 new derivatives contracts, including Prediction Markets and Pre-Launch listings, and introduced advanced trading platform features like Chart Trading, Sub Accounts, News Feeds, Multicharting, and Guilds, which incentivize users to collaborate and compete in weekly competitions to enhance their trading skills.
