BitMEX, one of the top crypto derivatives exchanges, has added two new much-sought cryptocurrencies: Chainlink (LINK) and Tezos (XBT), to its futures market after over two years of fresh listings.
As announced by the Seychelles-based exchange today, it will add quarterly futures contracts of the two digital currencies, along with similar contracts of EOS and Cardano’s ADA token. Other contracts of these two tokens are already listed on the exchange.
The last new listing of the exchange was of Tron contracts against Bitcoin in June 2018.
Unlike other contracts listed on the exchange, these new contracts will be listed against USDT instead of BTC. The exchange cited the dominance of the stablecoin in the crypto market behind its decision to make it the base currency.
“In response to demand from our users, these new Altcoin/USDT contracts better reflect the underlying positions many traders are taking on spot markets,” BitMEX stated. “USDT pairs account for over 60% of overall Altcoin volume, and with these listings, we are providing users with the trading options to better meet their needs.”
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The addition of Chainlink also shows BitMEX’s intention to dive into the ongoing decentralized finance (DeFi) frenzy. Link token has gained astronomically in recent months, becoming one of the top digital currencies in terms of market capitalization.
Though the price of LINK was following a steep downtrend, it gained significantly on the spot markets after BitMEX’s announcement.
Notably, BitMEX also listed Tezos futures before the project’s initial coin offering (ICO) in 2017 and settled the contracts at 0.0002 BTC per XTZ.
New and Improved Indices
Besides the new listings, the derivatives exchange expanded its indices offerings by adding five new indices and also introduced Binance US, LBank, and OKEX ‘as new constituent exchanges’ to its indices.
Meanwhile, BitMEX recently launched a mobile application of its trading platform in over 140 operational countries and mandated identification verification.