Tron(TRX) Futures Contract on Bitmex Exchange
Bitmex, the exchange known for short or leverage trading recently announced about the Tron(TRX) Futures Contract. Bitmex has officially post on their blog:-
“Due to popular demand, we will be listing the BitMEX TRON / Bitcoin 28 September 2018 futures contract, TRXU18, on or before 26 June 2018 08:30 UTC.”
The exchange also recently added quarterly futures contracts for Ripple’s XRP token, Cardano [ADA], Bitcoin Cash [BCH], EOS [EOS], and Ethereum [ETH] in addition to pre-existing BTC contracts.
What is Futures Contract?
The futures contract will allow the users to leverage an amount of cryptocurrency to trade them for up to 100x leverage, set by the user. This will be helpful for “shorting” or “short” trading so that the traders can make profits off declining prices. However, in the crypto-community, this is generally looked down upon and is referred to as gambling or betting
.
Tron has recently celebrated their independence day on 25th June & on that day Bitmex has announced this big news about adding Tron(TRX) Futures. As we kniow Tron is top 10 coin in the Coinmarketcap & with total valuation of$2,607,760,777 according to the current market condition.
A TRX futures contract is an agreement to buy or sell TRX at a predetermined price at a specified time in the future. In this case, BitMEX is initially offering one future contract product, i.e. one with an expiration date of 28 September 2018.
Here are a few things you should note about BitMEX:
1. It is a P2P trading platforms that offers leveraged contracts that are bought and sold exclusively in Bitcoin.
2. It does not handle fiat currency.
3. It allows trading with a high degree of leverage.
So, let's see how the futures contract of Tron will affect on their price and valuation at their rank.
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The crypto trade has in the past offered EOS fates contracts, at the end of the day evacuated them keeping in mind the end goal to offer BTC, ETH, BCH and different contracts in a brilliant exchanging stage that wouldn't wind up coming up short. Its declaration takes note of that presently, given critical execution enhancements, its prepared to relaunch them.
BitMEX has reported the Tron fates contracts against Bitcoin with the expiry date of September 28, 2018. This implies currently speculator's can long or short on Tron (TRX). The digital money subsidiaries supplier, BitMEX has formally declared that it will offer Tron fates contracts.
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