BitMEX, a leading cryptocurrency derivatives exchange, has announced a significant update to its marking methodology for the BLAST/USDT futures contract. According to the BitMEX Blog, the change took effect on June 30, 2024, at 19:45 UTC.
Introduction of Fair Price Marking
The revised mark method now uses Fair Price marking, a move aimed at enhancing market accuracy and stability. This change was facilitated by the construction of a robust index that reflects the spot prices of BLAST.
New Index for Pricing
BLAST is now priced on the .BBLASTT index, which aggregates BLAST prices from multiple exchanges including Bybit, HTX, Gate.io, and Kucoin. This diversified approach ensures a more accurate representation of BLAST’s market value.
Removal of Price Protections
Another critical update is the removal of Limit Down and Limit Up price protections. These changes are expected to offer traders a more precise and flexible trading experience.
Implications for Traders
The update is likely to impact traders who rely on accurate price markings 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 for both short-term traders and long-term investors.
For any questions or further information, traders are advised to contact BitMEX support.
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