BitMEX Adjusts Minimum Price Increments for XBTUSD and ETHUSD Swaps
BitMEX, a leading cryptocurrency exchange, has announced changes to the Minimum Price Increments for its Bitcoin (XBTUSD) and Ethereum (ETHUSD) perpetual swaps. These adjustments took effect on July 31, 2024, at 04:00 UTC, according to BitMEX Blog.
Details of the Changes
The modifications are as follows:
| Perpetual Swap | Previous Minimum Price Increment (USD) | New Minimum Price Increment (USD) |
| XBTUSD | 0.5 | 0.1 |
| ETHUSD | 0.05 | 0.01 |
Impact of the Adjustments
The Minimum Price Increment, also known as Tick Size, represents the smallest increment by which the price of a contract can move. By reducing these increments, BitMEX aims to potentially narrow bid-offer spreads, which can be advantageous for price takers when they cross the spread to execute trades.
Industry Reactions
The adjustment in price increments is seen as a strategic move to enhance trading efficiency and liquidity on the platform. By providing finer pricing, BitMEX could attract more traders looking for tighter spreads and better execution.
For additional information, you can visit the BitMEX Blog.