BitMEX applies a fair price tag of HYPEUSDTZ25

BitMEX has announced a major change in the way the HYPEUSDTZ25 trading pair is determined, switching to a fair price determination system effective December 24, 2024, 06:05 UTC. This amendment is part of BitMEX’s ongoing efforts to enhance the transparency and accuracy of trading, according to BitMEX.

Introduction to a powerful indicator

The transition to setting a fair price has been facilitated by the development of a new index that accurately reflects HYPE spot prices. This index, known as .BHYPET, aggregates data from multiple cryptocurrency exchanges, including Gate.io, Kucoin, and Bitget. By using this comprehensive data set, BitMEX aims to provide a more reliable and fair representation of HYPE’s market capitalization.

Impact on trading protection

By implementing the fair price tag, BitMEX has also removed the price protection limits and cap of HYPEUSDTZ25. These changes signal a shift towards a more flexible, market-driven pricing model, allowing traders to experience less restrictive trading conditions.

Industry context

The adoption of the Fair Price Tag by BitMEX reflects a broader trend in the cryptocurrency industry, as exchanges seek to enhance the accuracy and fairness of their pricing mechanisms. By integrating diverse market data, exchanges can mitigate the risks of price manipulation and provide a more transparent trading environment for traders.

For further inquiries, traders are encouraged to contact BitMEX support for more detailed information regarding these changes.

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