Dash, the rising alternative to bitcoin, has been added to cryptocurrency derivatives trading platform BitMEX in the wake of its recent software updates and historic 24 hour trading volumes.
BitMEX listed Dash on its exchange this month following the launch of its software upgrade Sentinel, and the massive increase in Dash’s liquidity and total market capitalization. Since January 2nd, Dash’s market capitalization has soared 70%, reaching its highest ever market cap of $120 million USD. 24-hour trading volumes are at never-before-seen highs, with an average of over $2 million USD worth of Dash bought and sold every day, making Dash the sixth most traded cryptocurrency in the world.
Dash Business Development Spokesman Matthew Meek said, “After observing the volumes traded on BitMEX for sometime, it was obvious that BitMEX is consistently ranking amongst the top in USD/BTC volume on a daily basis. We felt that having Dash as an offering for BitMEX’s users was an obvious choice and one that would also provide Dash with its first derivative based market, which we are excited about.”
BitMEX gives retail investors access to the global markets using cryptocurrencies and derivatives. The exchange allows for trading using up to up to 100x leverage on bitcoin, and high leverage on altcoin futures. Since November 2014, the equivalent of over $4.5 billion USD has been traded over BitMEX. Dash joins a growing roster of popular cryptocurrencies listed on the platform, including Bitcoin, Zcash, Ethereum, Ethereum Classic, Monero, Ripple, Augur, Litecoin and Factom.
BitMEX CEO Arthur Hayes said, “BitMEX aims to be the largest venue for the trading of any and all digital currency derivatives. As such, Dash belongs in our product offering. BitMEX believes financial privacy is valuable to the cryptocurrency exchange space. The first digital currency that can offer real electronic untraceable cash will be very successful. The Dash team is on the right path towards accomplishing this feat.”
Dash’s recent price and volume growth is driven in part by its recent software launch of Sentinel, which sets the foundation for the highly anticipated decentralized payments system Evolution. In parallel, Dash just opened its new headquarters at Arizona State University’s SkySong Innovation Center, the first cryptocurrency in the world with dedicated offices. Dash now sits above Ethereum Classic as the 6th most valuable cryptocurrency in the world.