Bitfinex exchange announced on Wednesday that it has launched perpetual futures contracts tied to the volatility index of Bitcoin and Ethereum. These contracts allow traders to bet on the price fluctuations of BTC and ETH to address the increasing volatility in the cryptocurrency market.
Bitfinex Derivatives, the cryptocurrency derivatives platform of the long-standing cryptocurrency exchange Bitfinex, introduced the perpetual futures contracts linked to the volatility index of Bitcoin and Ethereum. The platform stated that the new Bitcoin and Ethereum volatility futures are based on the Bitcoin Implied Volatility Index (BVIV) and the Ethereum Implied Volatility Index (EVIV) from the decentralized derivatives platform Volmex. Starting from April 3rd, users can trade with the codes BVIVF0:USTFO and EVIVFO:USDTFO.
Jag Kooner, the derivatives director of Bitfinex, commented on this launch, stating that the Bitcoin volatility index currently stands at 73.24, based on data from Binance, representing a 4.38% decrease in the past 24 hours. As for Ethereum, it is currently reported at 78.81, reflecting a 1.72% decrease in the past 24 hours.
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