Monday, April 12, 2021

BitMex to Launch Trading of New Perpetual Swap on XRP Token (XRPUSD)

BitMex, the next-generation cryptocurrency trading platform, which supports highly leveraged trading via perpetual and fixed-rate contracts, has recently announced that it will launch the trading of a new perpetual swap on the XRP token (XRPUSD).

The new development was made known via the official Twitter handle of BitMex. According to the report, the trading of the new perpetual swap on the XRP will commence on 5th February 2020 at 04:00 UTC.

BitMex shared this, “We at BitMEX are proud to announce that trading of a new perpetual swap on the XRP token (XRPUSD) will begin at 0400 UTC on 5 February 2020.”

BitMex CEO Arthur Hayes Reacts to the New Development

Arthur Hayes, the Co-Founder, and CEO of BitMEX also reacted to the new development that is seemingly targeted at enhancing the liquidity on the trading platform.

Hayes’ response to the announcement revealed his excitement in welcoming the trading of XRP and USD perpetual swap.

He said, “Is it called Ripple, XRP, or dogshit? Who knows, who cares. It’s worth more than zero so it’s time to trade the USD pair on BitMEX. Boo-Yaka-sha!”

XRP Liquidity on BTC Markets Attains All-Time High

There are indications that the XRP liquidity is on the increase across exchanges, considering the rate of transaction in XRP on BTC Markets, Bitso and across other related exchanges.

About two days ago, Liquidity Index Bot reported that XRP liquidity on BTC Markets, an Australia’s leading crypto exchange, attained an all-time high.

“Liquidity Index for BTC Markets XRP/AUD (28-day moving trend) Day progress: 92% Today so far: 3,712,009 All-Time High: 3,266,533.”

It was also reported on the same day by the Liquidity Index Bot that XRP liquidity on Bitso recorded a new all-time high.

“Liquidity Index for Bitso XRP/MXN (28-day moving trend) Day progress: 92% Today so far: 16,300,686 All-Time High: 15,006,608”

Conclusively, the subsequent liquidity records of the digital token on both exchanges monitored by Liquidity Index Bot reveal that the liquidity of the cryptocurrency keeps moving closer to recording new all-time highs. This shows that XRP is not holding back from gaining traction amidst individuals and institutions.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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