BitMEX’s Bitcoin Insurance Fund Now Worth Over $75 Million

In the recent past, BitMEX had hit a daily turnover of 1 million BTC! as they announced the launch of two derivatives products, namely, ETHUSD perpetual swaps and UPs & DOWNs to meet market demand on the back of the above-mentioned sensational news.

Perpetual Swaps (a derivative product) that were originally introduced by Bitmex, have been instrumental for trading like Future contracts but without any expiry or settlement.

For now, they came up with BitMEX’s Insurance Fund comprised of 21,350 BTC (worth $75.9 million). From the recent past, this prodigious fund has been accumulating amid the serious slumps of Bitcoin price from $8.5k to $3.5k.

The fund comprising just over 2700 BTCs worth just $9.6 million) as on 1st January, 2018, has now grown up to worth $75.9 million with 21,350 BTCs, as per the BitMEX’s database.

Recently, BitMex has moved into the superior office space which happens to be the most expensive, situated in Hong Kong.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -134 levels (which is bearish), while hourly USD spot index was at -26 (bearish) while articulating (at 06:41 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex