BitMEX to Launch SUNDOGUSDT Perpetual Contract with 50x Leverage

BitMEX has introduced the upcoming itemizing of a brand new perpetual contract, SUNDOGUSDT, which can be obtainable for buying and selling beginning 23 August 2024 at 04:00 UTC. This new contract will supply merchants the chance to leverage their positions as much as 50x, in line with the BitMEX Weblog.

Particulars of the SUNDOGUSDT Perpetual Contract

The SUNDOGUSDT contract will start buying and selling primarily based on its index constituents. BitMEX has assured customers that each one crucial notifications can be supplied by way of website bulletins and social channels as soon as the contract is dwell. This new itemizing is a part of BitMEX’s ongoing efforts to broaden its choices and supply extra numerous buying and selling choices to its customers.

Merchants within the specifics of the SUNDOGUSDT perpetual contract can discover extra detailed info on the BitMEX weblog. The platform has additionally inspired merchants to succeed in out to their help group ought to they’ve any questions or require additional help.

Market Context and Affect

This transfer comes amidst a dynamic interval within the cryptocurrency market, the place exchanges are more and more providing extra subtle monetary devices to satisfy rising demand. Perpetual contracts, which wouldn’t have an expiry date, permit merchants to carry positions indefinitely and have gotten a well-liked alternative amongst seasoned merchants searching for flexibility and leverage.

BitMEX’s choice to introduce the SUNDOGUSDT contract with excessive leverage may appeal to vital curiosity, notably from these trying to capitalize on short-term market actions with out the constraints of conventional futures contracts.

Conclusion

With the launch of the SUNDOGUSDT perpetual contract, BitMEX continues to solidify its place as a number one platform for cryptocurrency derivatives. The addition of high-leverage buying and selling choices is more likely to enchantment to a broad vary of merchants, from these in search of speculative alternatives to these trying to hedge their positions.

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