Gate.io, The First Exchange To Launch A Perpetual Futures Contracts, Adds Monero (XMR) And Stellar Lumens (XLM) To The Product
Many have wondered what exactly could save the crypto markets and the responses usually vary between institutional money and the Bakkt platform.
Institutional money is seen as the crypto savior, and the coins are waiting to be rescued from the bearish trend that took control of the markets for so many months now.
But as you all know, the Bitcoin ETFs have been rejected by the SEC countless times and the much-awaited futures platform Bakkt is also still waiting for regulatory approval in order to launch already.
Gate.io launched a Perpetual Contract Trading Product
So, as you can see things are not looking the brightest right now, but there’s one platform that’s not waiting for legal approval: Gate.io.
A few days ago Gate.io revealed that it was introducing a Perpetual Contract Trading product for more digital; assets including Monero (XMR) and Stellar (XLM).
You may be aware of the fact that the exchange has been recently in the news after it fell victim to the ETC 51% attack.
The announcement involving the launch of this new product comes right after the exchange revealed the launch of the same products for other large-cap cryptos including the following: Bitcoin (BTC), Ethereum (ETH), EOS, Ripple (XRP), Bitcoin Cash (BCH), Bitcoin Satoshi’s Vision (BSV), Litecoin (LTC), Cardano (ADA), and Tron (TRX).
The announcement post also defines perpetual futures as contracts that “enable investors to make profits by selling digital assets short or long,” as Crypto-Economy reveals.
Taking advantage of both the rise and fall of prices
The contracts are different from the traditional futures contracts because they have no expiration date.
In other words, with the perpetual futures contracts, investors can take advantage of both the rise and the fall of the prices of digital assets.
The exchange has also said that they have set in place a maximum deposit limit amount which is 1 BTC for each account.
It’s essential to note that Gate.io is the very first crypto exchange to launch a perpetual futures contract. Back in 2018, crypto exchange OKEs started a similar product.
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