Crypto exchange BitMEX announced in a new announcement today that it will launch leveraged trading for 2 popular altcoins.
BitMEX confirms highly anticipated altcoin listing
Famous crypto exchange BitMEX announced today that it will officially launch Shiba Inu (SHIB) and Bone ShibaSwap (BONE) perpetual contracts. Accordingly, users will be able to take up to 33x leveraged SHIB positions. The leverage for BONE is set to 5x. Users can now trade USD and USDT pairs with BONE. According to the official BitMEX announcement:
Like all quanto contracts, SHIBUSD has a fixed Bitcoin multiplier regardless of the SHIB/USD price. This allows traders to long or short the SHIB/USD exchange rate without touching the SHIB or the USD.
According to the announcement, users will be able to leverage 33x for the SHIBUSD Quanto Contract and 20x for the SHIBUSDT Linear Contract. The sale of these contracts starts from 30 August.
Good news for BONE investors
BitMEX also announced that it will permanently list BONE with USD and USDT pairs. Both BONEUSD and BONEUSDT pairs will offer up to 5x leverage. This allows users to trade large amounts of BONE, Shibarium’s gas token. At the same time, it allows the price to gain upward momentum.
SHIB and BONE prices take action after Grayscale lawsuit result
cryptocoin.com As we have reported, the ETF lawsuit between Grayscale and the SEC yielded a positive result. The decision in favor of crypto triggered a rally in the Bitcoin and altcoin market. SHIB and BONE prices are also accompanying the rise. BONE and SHIB, which rose slightly after the BitMEX listing, are currently posting gains of over 5%.
SHIB price is currently up 2.6% on the day. The 24-hour lows and highs are at $0.000008052 and $0.00000843 respectively. Meanwhile, there was a significant increase in trading volume for SHIB.
BONE price is trading in the $1.31 region after up 2.5%. The Shiba Inu ecosystem token lost 10% of its value after Shibarium halted operations. With the last rally, he recovered some of his losses.
SHIB is on the rise for the first time since the launch of Shibarium
Twitter crypto analyst Ali_Charts shared that a staggering two trillion SHIB tokens were removed from exchanges last week. He also explained that this also reflects investors’ confidence that SHIB is trend reversal.
#ShibaInu | A staggering 2 trillion $SHIB tokens have been pulled from known #crypto exchange wallets just this past week. pic.twitter.com/MiWMNUp7jY
— Ali (@ali_charts) August 27, 2023
While Shiba Inu’s price is on the rise, Shibarium’s daily trading also gained bullish momentum after falling. At the time of this writing, Shibarium had processed more than 440,000 transactions. It had over 101,000 wallet addresses and an average block time of five seconds.
