Many crypto-traders and enthusiasts are only aware of the existence of futures contracts for the prominent coins of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). BTC futures contracts are offered by firms high up in Wallstreet through the CME Group and CBOE (The Chicago Board Options Exchange). ETH futures contracts are also being considered by the CME and CBOE as well. However, one online trading firm currently offers all 4 futures contracts of BTC, ETH, LTC, and XRP.
It is with this background that the possibility of having Tron (TRX) futures contracts on the Bitmex exchange is a bit exciting for any TRX HODLer or trader.
BitMex (Bitcoin Mercantile Exchange) is a trading platform that offers investors access to the global financial markets using only Bitcoin as its ‘base currency’. Therefore, the TRON futures contracts will be paired against BTC. The exchange made the announcement on the 25th of June via its official blog.
In the announcement, the exchange stated that:
“Due to popular demand, we will be listing the BitMEX TRON / Bitcoin 28 September 2018 futures contract, TRXU18, on or before 26 June 2018 08:30 UTC.”
However, due to the extended systems upgrade by Binance today, 26th June, Bitmex decided to postpone the launch of the new product by adding the following to the first announcement:
“Update: due to the current Binance system downtime, the BitMEX TRXU18 listing will be postponed. We will post another update before listing.”
Futures contracts are sometimes frowned upon for traders are basically betting in an unknown future. It is therefore viewed as a sort of gambling that could be very profitable as well as a good way of losing a lot of investment capital. Take for example the recent hacks on Coinrail and Bithumb plus the flash crash of Friday, 22nd of June. No one knew that all these events would happen. Anyone who decided to short BTC was a happy trader. Anyone who had bet long on BTC going up was not.
In a nutshell, the planned addition of TRX futures contracts by BitMex means that traders love the digital asset enough to request the exchange to offer the new TRX product. TRX currently has over 1.2 Million HODLers according to the project’s website. The fact that the TRX futures contracts are being offered by a cryptocurrency exchange and not Wallstreet, means that the digital asset might not be subject to major manipulation as was the suspected case with BTC when its futures were offered by Wallstreet back in December.
Anyone willing to trade in the new product by the exchange needs only create an account with Bitmex.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
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