KuMEX Launches USDT-Margined Bitcoin Perpetual Contract

KuMEX, the leading derivatives division of globally acclaimed KuCoin crypto exchange, has announced the news about the launch of the USDT-Margined Bitcoin Perpetual Contract to enrich its global customer base with new operational capacities. The news was circulated in the crypto community by the exchange team through a tweet on its official Twitter handle. The post read:

According to the latest official reports, each USDT-Margined Bitcoin Perpetual Contract will be valued at 0.001 BTC along with the maximum leverage bar offered up to 100x. The investors operating on KuMEX will be allowed to deposit and transfer the USDT directly to their contract account to kickstart their contract trading for the newly launched perpetual contract. The introduction of USDT perpetual contracts on KuMEX is succeeded by the exchange platform hitting the average daily trading volume of a whopping $100 million.

The KuCoin team stated that the exchange ended up onboarding USDT as the first stablecoin supported by the platform as it is ‘far more stable’ in comparison to USDC or PAX in terms of market capitalization, liquidity, and user recognition. Johnny Lyu, the CEO of KuCoin Global, affirmed that the USDT perpetual contracts would be “clearer and easier for new futures traders to make investment decisions using USDT.” He added that the contracts should play a significant role in reducing the risk of volatility, which is predominant in the case of non-pegged virtual currency tokens.

The past few months have seen overall growth in crypto derivatives trading, perpetual contracts trading, etc. in the marketspaces. Binance revealed a whopping increase in trading volumes concerning perpetual futures contracts for January 2020. The reports signified that the BTC/USDT perpetual contract evolved as the most popular futures contract in January with a record return of 30%.