A new XRD/USDT perpetual contract will be available starting on the 22nd of January at 12 PM UTC on BitMEX.
The XRD/USDT perpetual contract on BitMEX further increases the number of venues where XRD perpetuals can be traded.
BitMEX: The Crypto OG
Since its establishment in 2014, BitMEX has rapidly ascended to one of the leading players in the cryptocurrency trading sector, consistently ranking among the top exchanges in volume and influence. A pivotal moment in BitMEX's history was 2016 when the XBTUSD perpetual swap was launched. This product not only revolutionized the industry but has remained the most traded cryptocurrency product to date.
This paved the way for BitMEX to continue its trailblazing path with new perpetual swaps, traditional futures, and the introduction of Quanto futures products.
A key indicator of BitMEX's market prominence is its reported 24-hour trading volume of $450m, which showcases the platform's liquidity and significant role in the crypto space.
Further underlining its market impact, BitMEX garners just under 800,000 monthly visits, illustrating the platform's extensive reach and popularity among crypto traders and enthusiasts. This substantial visitor traffic and its innovative product offerings further cement BitMEX's position as a destination for those seeking a comprehensive and dynamic trading experience.
Growing Momentum for Radix
The BitMEX perpetual contract listing continues the strong start into 2024 for Radix following the Grove integration and Keyrock deploying $10+ million in liquidity into the Radix ecosystem by integrating Radix into its market-making technology stack.
Both the integration and liquidity provision are not just isolated incidents; they represent a clear trend of increasing traction of the Radix Network and recognition of Radix's potential amongst decision-makers in the DeFi space.
These developments are significant for Radix, demonstrating market confidence and the platform's expanding influence. It's a clear signal that Radix is gaining serious attention from users, partners, developers, and traders alike, positioning it as an increasingly important player in the Web3 space.
Looking Ahead
To celebrate the partnership and grow awareness of the Radix ecosystem, BitMEX is running a trading competition, pitting traders against each other to see who has bragging rights and walk away with a share of $20,000 in XRD.
The competition will run for two weeks, starting on January 22nd and ending on February 4th 2024.
Those wishing to participate will first need to join the Radix Guild. You can work alone or join together to climb up the leaderboard. You can learn more about BitMEX Guilds on their FAQ here.
The prizes will be distributed as follows:
- 1st place: $8,000
- 2nd place: $3,000
- 3rd place: $1,000
- …and so on – up to a total of $20k of XRD in prizes!
Special Rewards For Top Traders
BitMEX also has four special rewards for the top traders of the new XRDUSDT contract – $500 worth of $XRD and one month’s worth of VIP fees on BitMEX.
Special Rewards:
- Largest position size
- Biggest 24-hour trading volume
- Streamer special: Livestream your XRDUSDT trades on BitMEX through Twitch/YouTube and get the most views
How To Get Involved:
This promotion is designed, created, and operated by BitMEX for new and existing users, subject to the terms and conditions on their website.