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BingX Introduces ALTCOIN Index Futures Trading

In a significant announcement, BingX, a globally recognized cryptocurrency exchange, has launched the ALTCOIN Index, marking the introduction of its innovative futures trading pair that focuses on various leading altcoins. This new offering is designed to provide users a seamless way to engage with major cryptocurrency trends, all from a convenient, single-click solution.

Futures indices have been traditionally leveraged in stock markets as financial derivatives that encapsulate the performance of a group of assets. This allows investors the ability to speculate or hedge against collective market movements instead of acquiring multiple assets individually. Such a method not only saves time but also helps in reducing trading costs significantly.

With BingX's ALTCOIN/USDT futures trading pair, users can now effectively bundle their trades around a selection of top cryptocurrencies, specifically excluding Bitcoin and stablecoins. The index currently comprises notable altcoins including Ethereum (ETH), Ripple (XRP), Solana (SOL), Binance Coin (BNB), Dogecoin (DOGE), Cardano (ADA), TRON (TRX), Avalanche (AVAX), and Shiba Inu (SHIB). By utilizing this aggregated approach, traders can sidestep the complexity of managing multiple positions across individual cryptocurrency investments, thereby diversifying their trading risks in a more efficient manner.

Vivien Lin, Chief Product Officer at BingX, articulated the company's aim with this initiative: "By synthesizing a variety of leading cryptocurrencies into a singular trading instrument, we’re delivering our users a practical method to better align with market trends. Our index trading pair is particularly beneficial for novice traders, as it simplifies the trading of primary altcoins while employing leverage, especially for those uncertain about specific investments."

The new ALTCOIN futures trading options come with tiered leverage possibilities and ensure competitive rates that align with BingX’s already established perpetual futures offerings. This structure simplifies the management of open orders, enhancing the overall efficiency of trading.

Moreover, BingX is committed to keeping the index composition up-to-date, with quarterly reviews and the ability to make immediate adjustments in light of market fluctuations. This ensures users are always engaging with the most relevant and high-performing cryptocurrencies in the ALTCOIN Index.

Founded in 2018, BingX caters to over 10 million users worldwide, offering a wide range of cryptocurrency services, including spot and derivative trading, as well as asset management options. The exchange is devoted to providing innovative and reliable tools that cater to both novice and seasoned traders, thus fostering an environment that elevates trading expertise. Significantly, in 2024, BingX proudly became an official cryptocurrency exchange partner of Chelsea Football Club, marking a notable expansion into the realm of sports.

To explore this new trading functionality or to learn more about BingX’s offerings, visit their website here.