The Seychelles-based crypto derivatives exchange announced on Wednesday that it will increase the maximum leverage of its ether perpetuals product to 200x.
The leverage boost comes in the wake of the recent U.S. Securities and Exchange Commission (SEC) regulatory approval of spot ether ETFs, which has heightened market volatility.
“If you’re looking for ETH +0.66% trading opps – this is your chance to go big on price speculations for ETH before ETHETFs start trading,” BitMEX stated.
According to BitMEX CEO Stephan Lutz, a shift in sentiment on Wall Street could greatly amplify volatility in the ether market. "This is why 200x leverage for the ETHUSD perpetual swap couldn’t have come at a better time. Ethereum has seen remarkable growth over the past year, with the price soaring 100% amid increased institutional adoption," Lutz said.
Leverage Booster available to Isolated Margin positions
BitMEX users can start using the new leverage via enabling Leverage Booster in their settings, and then selecting up to 200x for ETHUSD in their order forms. The increased leverage is available exclusively for isolated margin positions.
This is not the only high leverage function that BitMEX offers traders. In April the derivatives exchange launched 250x leverage for its bitcoin perpetual swap. In 2023 BitMEX launched over 120 new derivatives contracts including prediction markets and pre-launch listings.