BitMEX is launching futures for Chainlink (LINK), EOS (EOS), Tezos (XTZ) and Cardano (ADA). BitMEX is launching Tether-backed futures contracts for these four altcoins.
Seychelles-based cryptocurrency exchange BitMEX announced the launch of four new futures contracts for Chainlink (LINK), Tezos (XTZ), EOS (EOS) and Cardano (ADA). Cryptocurrencies will be backed by Tether (USDT) stablecoin. The exchange says the new listings are a response to strong demand from its users.
Given that Tether is responsible for the lion’s share of total altcoin volume, the recently added trading pairs are expected to better reflect spot trading.
BitMEX Lists Its First DeFi Token
Chainlink (LINK) became the first DeFi-related cryptocurrency to be listed on the BitMEX exchange. BitMEX’s arch rival, OKEx, launched USDT margin LINK futures in November 2019, becoming the first major exchange to list such a derivative.
Binance Futures made a permanent contract for the high-flying cryptocurrency in January. Given that LINK was the first new token listed on the exchange since Tron (TRX) in 2018, BitMEX has a fairly conservative listing policy.
While XTZ, EOS and ADA can already be traded on the exchange, users can now speculate about the value of these coins with the help of USDT-based contracts.
As previously reported, BitMEX also introduced quanto futures contracts earlier this year, allowing long or short runs in USD rates while posting margin on XBT for Ethereum (ETH), XRP (XRP), and Bitcoin Cash (BCH).