While there are approximately 13 hours left until the Bitcoin halving, investors are focused on the halving effect. While there are different analyzes about the direction in which the BTC price will move after the halving, good news came to investors from BitMEX, the leading crypto derivatives exchange.
Accordingly, BitMEX increased the leverage of the Bitcoin perpetual exchange XBTUSD from 100 times to 250 times before the halving.
BitMEX CEO Stephan Lutz said in a statement to The Block:
“The increased leverage comes as investors demand to profit from the next round of Bitcoin volatility.
2024 is a great year for BitMEX and crypto investors. I believe this is also one of the last chances for crypto latecomers to still make a difference in their lives and lifestyles.
“We want to ensure that investors can make the most of the bull market with increased leverage of up to 250x for XBTUSD.”
The exchange CEO lastly recalled that XBTUSD was first launched in May 2016, adding that it has since become the most traded crypto derivative product of all time, reaching a total trading volume of over $3 trillion on BitMEX alone.
*This is not investment advice.