BitMEX Launches 200x Leverage for Ethereum Perpetual Swap
Crypto exchange BitMEX said it would “substantially boost the leverage” of its ETHUSD perpetual swap to 200x.
Per the press release shared with Cryptonews, the move is “timed” to the recent regulatory approval of Ethereum Spot exchange-traded funds (ETFs) in the US.
This development, says the exchange, “has spurred amplified market volatility.” Therefore, BitMEX aims to provide crypto traders with “an intensified means to capitalize on the shifting Ethereum landscape.”
That said, to utilize the novel leverage, BitMEX users need to enable the Leverage Booster in their settings. They then select up to 200x for ETHUSD in their order forms.
Notably, the Leverage Booster is available for Isolated Margin positions “exclusively.”
The risk limit and leverage settings will not be changed. It is adjusted to 5 BTC for ETHUSD.
Therefore, “this enhancement will not disrupt the risk management parameters of existing users,” and “traders can safely adjust their strategies,” said the announcement.
/ We plan to continue expanding Leverage Booster for other tokens. And we want to hear your guesses.
So here’s how you can win your 50 USDT:
1️⃣Follow @BitMEX
2️⃣Like and RT the above tweet
3️⃣Tag 3 friends in the comments along with the name of the next token you think we'll…
— BitMEX (@BitMEX) June 5, 2024
BitMEX CEO Stephan Lutz argued that “the sentiment shifts on Wall Street will supercharge volatility in the Ethereum market.”
This is why this 200x leverage for the ETHUSD perpetual swap “couldn’t have come at a better time,” he commented.
Furthermore, Ethereum’s growth and price swings over the past year amid increased institutional adoption have created “a ripe environment for savvy traders to potentially multiply their profits.”
In 2015, BitMEX
