Major Exchange OKEx Adds 7 New Pairs to Crypto Derivative Product
As Cointelegraph reported in late December, the sell first launched a derivative product called a “perpetual swap” that supports BTC/USD,with up to 100x leverage. As Cointelegraph reported at the time, the product is a domain trade instrument that lets users assume on the destiny value of a given cryptocurrency opposite USD, according to OKEx’s index.
Today, the sell announced it will supplement incessant swaps contracts for 7 additional vital cryptos — Bitcoin Cash (BCH), Bitcoin SV (BSV), EOS (EOS), Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). The newly combined contracts will only support up to 40x leverage, according to the press release.
Meanwhile, news recently broke that the launch timeline for the Bakkt Bitcoin (USD) Daily Futures will be determined by the Intercontinental Exchange in in early 2019. The news came the same day the Bakkt height announced a large appropriation turn totalling $182.5 million. Michael Novogratz reportedly cited Bakkt’s launch as one of the attention developments that could assistance end the bear marketplace in crypto.
In late November, crypto sell Huobi launched a height dedicated to crypto derivatives, dubbed the Huobi Derivative Market, which allows business to take both long and brief positions.
OKEx is now the world’s second-largest crypto sell by practiced daily trade volumes, saying about $564 million in trades on the day to press time.