Dubai, October 20, 2023 — BIT, a professional cryptocurrency exchange specialising in options trading, has officially launched options trading for Bitcoin Cash, a cryptocurrency that is a fork of Bitcoin which was created in 2017. In partnership with trusted market makers Orbit Markets, this announcement marks the expansion of options trading offered on BIT which already includes BTC and altcoins such as ETH, XRP, TON, LADYS, ADA, and FIL.
Recently, BCH emerged as a standout performer in terms of market liquidity, especially when compared to the dominant market leaders, Bitcoin (BTC) and Ethereum (ETH). In June 2023, the price nearly tripled after being one of the four cryptocurrencies listed on a newly-launched exchange headquartered in the US.
While the broader cryptocurrency market has witnessed a general decrease in market liquidity since the FTX collapse in November 2022, BCH has been defying this trend. In Q3 2023, Bitcoin Cash exhibited an impressive improvement in market liquidity, surpassing a remarkable 10% increase compared to the previous quarter. This growth overshadowed other prominent altcoins and even the market leader, Bitcoin itself.
Justin Buitendam, Global Head of Institutional Sales at BIT, underscored the surging market interest in BCH options, explaining, "The market has demonstrated a substantial uptick in demand from institutional investors, miners, and hedge funds seeking BCH/USDT options trading. This listing represents our proactive approach to meet the growing enthusiasm within the Bitcoin Cash community and the broader cryptocurrency environment."
The 17th largest cryptocurrency by market capitalization is now available for trading on BIT Exchange, offering traders and investors access to real-time, standardised pricing, providing a more reliable basis for their decisions.
By enabling BCH options trading on a trusted exchange like BIT, we are laying the foundation for more reliable clearing processes and the enforcement of standardised contracts. This not only helps in risk mitigation but also guarantees a level playing field for all participants. It equips every stakeholder in the Bitcoin Cash ecosystem with an extra resource to adeptly handle and hedge their portfolio risks through advanced trading strategies.BIT, as one of the key players leading the expansion of altcoin options market, is at the forefront of this rapidly growing segment. Its aim is to create a safer, more transparent, and efficient marketplace for altcoin options trading.
BIT is a comprehensive cryptocurrency exchange designed for professional use, featuring advanced risk management and fund efficiency supported by Portfolio Margin and Unified Margin. BIT was launched in August 2020 as an affiliate of Matrixport, a prominent crypto financial services company.For more information: visit bit.com or follow BIT on LinkedIn, X, and Telegram.