London's Xena Crypto Exchange to Release Telegram's GRAM Crypto Token Derivative Contracts

Xena Exchange, a cryptocurrency exchange organization based in London, has now announced plans to kick off its own derivative contract for Telegram’s GRAM token. The firm, who is directly affiliated with Telegram, has now announced that XGRAM will be available for public trading. GRAM is expected to be released sometime before March runs out and XGRAM is expected to deliver a considerable amount of liquid assets and make this available for GRAM before it is officially launched.

More Details On The Derivatives

On the 28th of February, these derivatives were launched but were only accessible by just a few people in a specifically designed beta-mode. However, from now on, they are available to everyone.

The CEO of Xena Exchange has said:

“This is a significant step for the entire crypto market, considering the importance of the GRAM token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on the rate changes but also to hedge the risks.”

Perpetual Contracts Explained

A perpetual contract is basically a stipulated arrangement between parties that allows specific assets to be bought at a pre-fixed price. Furthermore, they do not have an expiry date and are consequently a great idea for protection against price volatility.

There are many trading institutions who allow traders to buy at high leverage and this allows these traders to make more purchases than they can readily afford. BitMEX, for example, requires traders who buy perpetual to pay a certain amount of interest, thrice a day.

Perpetual purchased from Xena are not controlled by the Financial Conduct Authority (FCA) in the UK because they are in crypto.

Telegram And Its Telegram Open Network (TON)

The TON is a part of the Telegram platform that allows for payments and a GRAM token is a unit of value for these payments. This idea is similar to the WeChat Pay already available in China. Currently, Telegram has about 200,000 active monthly users and hopes to use this to leverage for participation on its TON.

It is important to note that Telegram decided to suspend its much-awaited ICO last year after it was able to raise $1.7BN from about 200 investors.

Bitcoin, Ethereum, Ripple (XRP) and BCH Price Analysis: Today's Coin Price Prediction Forecasts

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify bitcoin stories to the bare basics so that anyone anywhere can understand without too much background knowledge and add in social research and feedback insights. When he's not neck-deep in crypto news, Tolu enjoys music, loves signing and is an avid movie lover.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi Growth & Stablecoin Surge Most Bullish Crypto Development: DCG State of Crypto 2020 Survey

39% of the respondents that involve 150 portfolio companies see DeFi as the most bullish crypto development of 2020, as per the DCG Founders...

Non-Custodial Bitcoin Exchange, Hodl Hodl, Launches Lending Service Without KYC

Hodl Hodl, a non-custodial Bitcoin exchange, is launching a KYC-free lending product for its customers. The exchange claims that its lending product would be...

Total Value Locked in Harvest Finance Surpasses $1 Billion, Up 366,200% Since September

Decentralized platform Harvest Finance that provides users a way to farm assets for the highest yields now has more than a billion dollars in...

Strong Institutional Demand for Bitcoin, CME Becomes Second Largest BTC Futures Market

Bitcoin's price made a big shift this week as the bulls gained control of the market and pushed it past $13,000. A similar shift has...

PoolTogether's ‘No Loss' Gambling Platform Utilizes Chainlink’s VRF on Ethereum to Select Winners

Chainlink announces its verifiable random function on the Ethereum mainnet, bringing a host of benefits to the decentralized platform. PoolTogether, a gamified savings platform...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today