BitMEX Exchange Announces Tron (TRX) Futures Contracts [TRXU18]
BitMEX one of the most important crypto-related platforms in the market, has recently announced Tron (TRX) futures contract. The BitMEX exchange is known for short trading futures with up to 100x Leverage. Moreover, it was one of the first platforms to offer margin trading with virtual currencies.
In the last times, the exchange added quarterly futures contracts for other important and known cryptocurrencies in the market such as Ripple (XRP), Cardano (ADA), Bitcoin Cash (BCH), EOS (EOS), and Ethereum (ETH). Since a very long time it offers Bitcoin (BTC) contracts.
Binance is back online. We will list TRXU18 at 08:30 UTC tomorrow, June 27. https://t.co/1qAAsr86To
— BitMEX (@BitMEXdotcom) June 26, 2018
Tron was doing a live stream featuring Justin Sun, Tron’s founder, on the occasion of Tron’s Independence Day. Some time ago, the company decided to start burning tokens, beginning with 1 billion TRX tokens. As a consequence, the price of the cryptocurrency may increase in the short term because the demand keeps growing, and the supply reduced.
During the live stream, Tron Foundation gave an introduction for some Super Representatives on the Tron blockchain. One of the Super Representative candidates that were present during the event was Gifto, an decentralized gifting platform. Additionally, Digital Assets Groups was also present there as a blockchain business.
With this implementation, futures contracts will let users trade with x100 Leverage if they want to. At the same time, using leverage allows individuals to short the market and the assets and win with falling prices. This has received several critics in the past due to the fact that it may be viewed as a way of gambling.
In order to operate with Leverage, users need to have a good amount of funds for collateral in case their position gets closed. Operating with margin trading is very risky and is highly recommended for expert investors rather than for beginners.
Tron is currently one of the most important virtual currencies in the market. At the moment it is located in the 11th position after Tether (USDT). TRX coins can be bought for $0,0411 dollars and its price has lost 2,73% in the last 24 hours. Moreover, the currency has a market capitalization of $2.71 billion dollars.
Tron’s community is very active and it has been supporting the development of the ecosystem since the very beginning. BitMEX adding support for this currency shows that the team behind Tron is working day after day to offer the best possible products to the market.