Bybit has launched a new pre-market product: Bybit Pre-Market Perpetuals.
Bybit, the world’s second-largest crypto exchange by trading volume, has introduced this product to allow traders to speculate on the future values of upcoming tokens before their official launch.
Once the token is listed, users can place orders with up to 5x leverage and execute trades at the opening price, providing an advantage over competitors, who typically only allow 2x to 3x leverage on pre-market trades.
“Pre-Market Perpetuals provide early access to new tokens, allowing our users to hedge spot positions and secure profits effectively,” said Joan Han, Sales & Marketing Director of Bybit.
You might also like: Coinbase to offer pre-launch token options trading
Pre-market perpetuals
The choice to hedge spot positions using Pre-Market Perpetuals gives traders a valuable advantage. If a trader is utilizing a short-selling strategy or participating in Pre-Market Spot Trading, they can use Pre-Market Perpetuals to hedge their positions and reduce their risks. This capability allows traders to lock in profits and safeguard their investments.
In futures trading, two parties agree to buy or sell a commodity, security, or asset at an agreed price and date in the future. These contracts are legally binding and are traded electronically on exchanges – in this case, Bybit.
Bybit’s launch of pre-market perpetuals aims to enhance its position in the market, offering an improved user experience and advanced trading tools to its 37 million users.
You might also like: Bitcoin bill gains support, thousands push US senators to back it
Read the full article here
