Bybit Introduces Pre-Market Perpetuals for Trading Upcoming Tokens

Dubai, United Arab Emirates, August 6th, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced its latest product: Bybit Pre-Market Perpetuals. This innovative offering enables users to trade perpetual contracts on forthcoming tokens, providing an opportunity to engage with future values prior to their official market debut.

Pre-Market Perpetuals are designed to offer early access to to potential promising new contracts. This helps users avoid potential entry cost increases due to price volatility at launch.

Traders can place orders with up to 5x leverage before the contract is officially listed. If they match the specified price, orders are executed at the opening price upon a successful opening, and the position is seamlessly transferred to the new contract after the perp is listed – a unique benefit compared to Bybit’s competitors.

“Bybit is always looking to innovate and offer our users the best trading tools available,” said Joan Han, Sales & Marketing Director of Bybit. “Pre-Market Perpetuals provide early access to new tokens, allowing our users to hedge spot positions and secure profits effectively. We believe this product will set a new standard in the crypto trading landscape.”The ability to hedge spot positions using Pre-Market Perpetuals offers traders a significant risk management tool. For those employing short-selling strategies or engaging in Pre-Market Spot Trading, these contracts provide a mechanism to minimize risks, thereby safeguarding investments and securing potential profits.

Bybit’s introduction of Pre-Market Perpetuals is another innovation from a market leader that has won significant market share. Due to its superior UX and products, Bybit has become the second-largest crypto exchange across spot and derivatives markets. Pre-Market Perpetuals gives opportunities for early access and risk management and reinforces Bybit’s position as a trailblazer in the cryptocurrency market.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL ) Red Bull Racing team.

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This article was originally published on Chainwire

Source: Investing.com