Cryptocurrency

BitMEX adds to its derivatives contracts perpetual XRP traded with bitcoin

The platform of derived from cryptocurrencies BitMEX, one of the most representative of the ecosystem, offers a new product. From this Wednesday 5 of February will be in operation the system of exchange of contracts perpetual XRP (ripple).Through a posting on his Twitter, BitMEX has announced that the validity period of your new product will begin from 4:00 UTC (coordinated universal time). So, the house of change confirms the activation of the product that they had announced on the 23rd of January on their official blog.For the negotiations of these contracts are perpetual, BitMEX accepts as collateral only bitcoin, according to the exposure of the product available on the website of the company. “This means that the margin, the gains and losses must be paid or received in bitcoin”, adds the text.Contracts perpetual are a type of futures contracts, with slight differences in their mechanism of negotiation. Mainly, it differs in that there is no specific date of expiration or settlement. The client decides when to exit.

Movements in the price of XRP

The closeness of the activation of this new product has not influenced significantly the price of the criptomoneda native of the blockchain private Ripple. At the time of drafting this note, the price of XRP is USD 0,25, with a trend of 0.25% to the low in the last 24 hours, according to CoinMarketCap. With the market in red, XRP is the only one in the top 10 of cryptocurrencies with less than 1% to the low in that period.However, since the announcement of the new product derived from XRP, at the end of the month of January, the price of the criptomoneda yes has gone up. In that period, has gone from about $ 0.22 to the current USD 0,25. This translates into an increase of over 13% in the last two weeks.On the night of 23 January, the date on which BitMEX has announced the product, the price of XRP was $ 0,22. Source: CoinMarketCap.The market has generally been on green in this period, although the gains of XRP stand out with regard to, for example, to bitcoin. Between the day of the announcement and the time of writing, BTC has gone up almost 8%.

Derivatives market on the rise

In addition to many recent offerings of derivatives for bitcoin that were launched in the last few months, as in the case of Bakkt or the new products of the CME, also the other houses of exchange have joined the future of XRP to their portfolios.Such is the case of the house of the change of chinese origin, Binance, that the first week of January launched its own product of contracts perpetual XRP.

About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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