BitMEX (Bitcoin Mercantile Exchange) has added support for trading on the privacy-focused cryptocurrency Dash. The apparent reason for the move is that since Dash’s recent rally its 24-hour trading volumes are at all time highs, with an average of over $2 million worth of Dash bought and sold every day.
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Dash Business Development Spokesman Matthew Meek said: “After observing the volumes traded on BitMEX for sometime, it was obvious that BitMEX is consistently ranking amongst the top in USD/BTC volume on a daily basis. We felt that having Dash as an offering for BitMEX’s users was an obvious choice and one that would also provide Dash with its first derivative based market, which we are excited about.”
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BitMEX gives retail investors access to the global markets using cryptocurrencies and derivatives. The exchange allows for trading using up to up to 100x leverage on bitcoin, and high leverage on altcoin futures. Since November 2014, the equivalent of over $4.5 billion USD has been traded over BitMEX. Dash joins a roster of options listed on the platform, including Bitcoin, Zcash, Ethereum, Ethereum Classic, Monero, Ripple, Augur, Litecoin and Factom.
BitMEX CEO Arthur Hayes said: “BitMEX aims to be the largest venue for the trading of any and all digital currency derivatives. As such, Dash belongs in our product offering. BitMEX believes financial privacy is valuable to the cryptocurrency exchange space. The first digital currency that can offer real electronic untraceable cash will be very successful. The Dash team is on the right path towards accomplishing this feat.”