Bitfinex Adds Margin Trading for FTX Token
FTX Token, the native cryptocurrency of the fast-growing FTX exchange, is now available for margin trading.
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Bitfinex has announced the launch of margin trading for the FTX Token (FTT). The FTT/USD pair can be traded with a maximum leverage of 1.66x, an initial equity of 60% and a maintenance margin of 30%, the exchange said in a blog post.
FTX Token Available for Margin Trading
FTX Token, the native cryptocurrency of the fast-growing FTX exchange, is now available for margin trading.
Biftinex, one of the largest cryptocurrency exchanges in the market, has announced the launch of margin trading for the token with the US dollar.
The pair will be available for trading with a maximum leverage of 1.66x, an initial equity of 60% and a maintenance margin of 30%, Bitfinex said in the announcement. Listing FTT follows the recent addition of margin trading for Algorand (ALGO) and Cosmos (ATOM) to the exchange.
Trading will begin on Mar. 6, at 8:30 AM UTC.
A Great Year for FTX
Having its native token available for margin trading on a high-profile exchange is the latest in a line of major developments coming from FTX.
The exchange has listed Tether Gold (XAUT) and opened trading for the XAUT/USD spot market, perpetuals, and quarterly futures on Mar. 6 according to the exchange’s email announcement.
Apart from that, FTX saw its native token rise significantly since the beginning of the year due to the popularity of some of the derivative products.
The Hong Kong-based exchange, a subsidiary of the Alameda Research company, introduced a new product to its offer earlier in January, enabling users to utilize its derivative coins to bet on the upcoming U.S. presidential election.
FTX also became the fifth-largest exchange by adjusted volume on the back of its presidential tokens and leveraged coins. Last month, it also announced that it will begin selling equity to investors in the form of equity tokens.
It became the latest cryptocurrency company to achieve unicorn status with a $1 billion valuation thanks to an investment from Sino Global Capital’s Liquid Value blockchain fund.
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