The renowned crypto exchange, BitMEX has announced perpetual contract listings of Shiba Inu (SHIB) and Bone ShibaSwap (BONE). In a blog post, the platform revealed that it will allow users to trade SHIB tokens with a leverage of up to 33x. On the other hand, BONE could be traded in pairs of USD and USDT with a leverage of up to 5x. Users will be able to trade Shibarium’s gas token, BONE in a large amount, creating an upside momentum in the token’s price action.
This is another positive news for Shiba Inu in a short time. Previously, the lead developer of the crypto protocol announced the reopening of the L2 blockchain Shibarium for the public after two weeks of unavailability. Nonetheless, BitMEX claims that it will allow users to enjoy up to 33x leverage on SHIBUSD and SHIBUSDT, which is the highest in the crypto space.
“As with all quanto contracts, the SHIBUSD product has a fixed Bitcoin multiplier, regardless of the SHIB/USD price. This allows traders to long or short the SHIB/USD exchange rate without ever touching SHIB or USD.”
SHIB and BONE Tick Upwards Amid BitMEX Listings
The cryptocurrency market is undergoing a period of uncertainty and fear. It is a time when many coins are barely holding their support levels and a constant threat of price degradation looms over the market. However, recent developments have helped SHIB and BONE to make a mark in the market.
SHIB was able to grow by 1.3% in the last 24 hours. It is currently trading at a price of $0.00000812 with a market cap of $4.78 billion. At the same time, BONE is trading at $1.27. In the last 24 hours. It managed to reach a high of $1.30. However, the coin’s 24-hour trading volume has seen a downfall of over 54%.
These price changes might seem negligible but they hold the utmost importance for these tokens under such market circumstances. It is expected that the number of SHIB and BONE holders will rise after the mainnet launch of Shibarium. Therefore, the prices of both these tokens can see an upward stride in the long run. Investors and traders are also keeping a keen eye on these tokens, which is a positive sign for their market performance.