BitMEX, a leading cryptocurrency derivatives exchange, has announced a major update to its marking methodology for the BLAST/USDT futures contract. According to the BitMEX blogthe change took effect on June 30, 2024 at 19:45 UTC.
Introduction of fair price marking
The revised marking method now uses Fair Price marking, a measure aimed at improving market accuracy and stability. This change was made possible by the construction of a robust index that reflects BLAST’s spot prices.
New index for prices
BLAST is now priced on the .BBLASTT index, which aggregates BLAST prices from multiple exchanges, including Bite, HTX, Gate.io and Kucoin. This diversified approach provides a more accurate representation of BLAST’s market value.
Removal of price protections
Another crucial update is the removal of the Limit Down and Limit Up price protections. These changes are expected to provide traders with a more precise and flexible trading experience.
Consequences for traders
The update will likely impact traders who rely on accurate price markups for their trading strategies. The new Fair Price Marking Method is designed to provide a more reliable and fair assessment of market prices, which could be beneficial to both short-term traders and long-term investors.
For questions or further information, traders are advised to contact BitMEX support.
Image source: Shutterstock