coinspress.com
A Seychelles-based crypto derivatives exchange has announced it will increase the maximum leverage for its ether perpetuals product to 200x, starting Wednesday.
This decision follows the U.S. Securities and Exchange Commission’s (SEC) recent approval of spot Ethereum ETFs, which has led to increased market volatility.
BitMEX CEO Stephan Lutz emphasized the perfect timing for this leverage boost, noting the potential for increased volatility in the ether market due to shifting sentiment on Wall Street.
“Ethereum has experienced significant growth over the past year, with its price doubling thanks to rising institutional adoption,” Lutz stated.
BitMEX users can now enable the Leverage Booster in their settings to access up to 200x leverage for ETH/USD orders, available only for isolated margin positions.
This move follows BitMEX’s earlier introduction of 250x leverage for its bitcoin perpetual swap in April. Additionally, the exchange has launched over 120 new derivates contracts.