OKEx Exchange Launches Ethereum (ETH) Based Perpetual Swaps for Crypto Traders


It has been an interesting and, albeit belated Christmas for cryptocurrencies. An example of this includes OKEx, the cryptocurrency trading platform based in Hong Kong.

The company has made it public that perpetual swaps of Ethereum (ETH) will be readily available on its platform as of December 26th (Boxing Day).

This sequence of announcements were made by OKEx on the same day. These perpetual swaps, in more simplistic terms, serve as a form of virtual derivatives and products which can and are settled with Ethereum.

Unlike the currently existing futures contracts that the platform offers, which predominantly concentrate on their delivery, funding, market price and daily settlement costs, Perpetual swaps will operate differently. For starters, daily settlements will take place on a different basis, the latter taking place every twelve hours, between 3am and pm.

Some of the unique attributes that these perpetual swaps allow for are far greater leveraging compared to futures. Allowing up to 40 times leverage for buyers, with accompanying equality in weight constituents within accompanying fiat or crypto. This also includes trading pairs from other crypto exchanges like GDAX, Gemini, Bitstamp among a number of others.

Along with the inclusion of its swap of ETH, the Hong Kong-based exchange has alluded to its desire to launch further perpetual swap products for other cryptocurrencies like Litecoin, Ethereum Classic, Ripple (XRP), Bitcoin Cash, and BSV in the foreseeable future.

While the cryptocurrency market has been in a state of retraction from an initial bounce, sliding downwards over the course of this week. Ethereum specifically saw a decline of 6.8 percent over the course of the day, falling to $117. While this is bad news for short sellers who bought at a high, it remains the third-largest crypto, with a total market capitalization of over 12 billion dollars.

Get Daily Headlines

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

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide