CoinEx launches perpetual contract for BSV markets

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Global cryptocurrency exchange CoinEx has launched perpetual contract for BSV/USD markets. The exchange announced the new feature recently, citing users’ demand as the reason for its newest contract product.

The Hong Kong-based exchange took to Twitter to make the announcement.

$BSV perpetual contract will be launched at 8:00 on February 7 (UTC), and the contract market is BSVUSD. One more reason to sign up on #CoinEx! 🥳🤑
Details: https://t.co/ZMBgJPNcKt

— CoinEx Global (@coinexcom) February 6, 2020

In an accompanying blog post, CoinEx stated, “To satisfy the trading needs of our users, we have decided to launch the 5th contract product on Feb 7, 2020, and the contract market is BSVUSD.”

The contract will be priced in the U.S. dollar and settled in BSV. The value of the contract is set at $1 and the minimum price per change at $0.01. CoinEx will source the index from its ow platform, Huobi’s and OKEx’, each contributing 33.3%. The index price of BSV/USD will come from a combination of BSV/BTC and BTC/USD.

Launched in December 2017, CoinEx is the 44th largest exchange globally according to data by CoinMarketCap. In the past 24 hours, it facilitated $342 million in trading volume.

The exchange becomes the latest to offer more options for the BSV community, with more exchanges embracing the only Bitcoin project that adheres to Satoshi’s vision. In November last year, KuCoin exchange joined others in listing BSV on its platform, availing it to over five million clients. KuCoin, which is backed by tech giant IDG, offers BSV trading against BTC, Ether and USDT.

Most recently, Australian crypto exchanges have jumped on the BSV bandwagon, with Independent Reserve the latest to list BSV. The exchange announced on Twitter that its clients could begin to withdraw and deposit BSV on February 9th, with trading officially going live two days later. Independent Reserve joined its rivals Coin Spot and BTC Markets, with both supporting BSV. Coin Tree, yet another Australian exchange also supports the direct purchase of BSV with the Australian dollar, while Mine Digital Exchange is to list the crypto soon.