BitMEX Rolls Out Support for Altcoins Tezos and Chainlink

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BitMEX, a cryptocurrency futures exchanges, announced the newest altcoins in its platform – Tezos (XTZ) and Chainlink (LINK). This news came hot in the heels of the confirmation that Ethereum Classic (ETC), Monero (XMR), and Zcash (ZEC) had been removed from the exchange.

According to the statement, LINK marks the first-ever DeFi-associated contract to be present on the exchange’s platform. With the presence of XTZ, BitMEX flaunts that they now have two of the best performing altcoins in the market. According to reports, XTZ and LINK are two of the leading altcoins in terms of market capitalization. BitMEX also emphasized in a press release that the goal behind the move is to enhance the user experience by bringing them the best coverage of high-quality, liquid products.

Aside from the news about XTZ and LINK, BitMEX also revealed the availability of trading contracts for EOS, a provider of decentralized infrastructure, and Cardano (ADA). Notably, both assets have long been listed in the exchange.

BitMEX also added that the new altcoin contracts could be used in trading against stablecoins. Traders will notably have a more favorable position in dealing with the spot market on other cryptocurrency exchanges. The announcement also confirmed that trading between LINK and USDT makes up 60% of the overall volume, a far cry from the number of transactions that use the trading pair BTC/ETH.

However, it’s worth noting that Tezos had already been listed in BitMEX exchange before conducting an ICO (initial coin offering) in 2017. Around that time, XTZ was worth 0.0002 BTC.

As recalled by industry experts, the last time a new token has been added to the BitMEX crypto exchange happened in June 2018, when TRON/BTC’s futures market looked so promising.

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