BitMEX, a cryptocurrency trading platform, has launched a new leverage trading option for Ethereum (ETH), allowing traders to utilize up to 200x leverage.
The increased leverage is intended for traders looking to maximize their profits from Ethereum’s price movements, especially with the expected trading of Ethereum ETFs on the horizon.
BitMEX has produced an interesting promotional campaign for the promotion, where two users can win 50 USDT each by following simple steps.
For this, a user must follow the BitMEX Twitter account, and like and retweet the announcement tweet about the new leaverge options. In addition, participants must tag three friends in the tweet’s comments and predict which token will be available next for the Leverage Booster function.
According to BitMEX CEO Stephan Lutz, a shift in mood on Wall Street could significantly increase volatility in the ether market.
“This is why the 200x leverage for the ETHUSD everlasting swap could not have arrived at a better time. Ethereum has seen remarkable growth over the past year, with the price soaring 100% amid increased institutional adoption,” Lutz said.
This move follows the recent introduction of 250x leverage for Bitcoin (BTC), demonstrating BitMEX’s desire to give more aggressive trading alternatives to its users.
BitMEX users can use the new leverage by enabling Leverage Booster in their settings and selecting up to 200x for ETHUSD on their order forms. The higher leverage is only available for isolated margin positions.Â
