Good news has arrived for Ethereum (ETH) investors ahead of the approval of spot Ethereum ETFs. BitMEX, the leading crypto derivatives exchange, has announced that it has increased the leverage of its Ethereum perpetual swap to 200x in anticipation of the ETFs.
BitMEX CEO Stephan Lutz expressed his belief that the change in sentiment on Wall Street could significantly increase volatility in the Ethereum market. He stated, “So 200x leverage for ETHUSD perpetual swap couldn’t have come at a better time. Ether has experienced remarkable growth in the past year, with its price increasing by 100% and institutional adoption on the rise.”
It’s worth noting that BitMEX had previously increased the leverage of its Bitcoin perpetual swap, XBTUSD, from 100x to 250x prior to the Bitcoin Halving in April.
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