Tuesday, July 12, Derivatives cryptocurrency change BitMEX introduced that it’s going to not proceed sooner with the launch of its native cryptocurrency BMEX. Thus, BitMEX will postpone the itemizing of BMEX tokens on its spot change.
The choice to delay the launch comes citing unfavorable market situations. Explaining the rationale behind it, BitMEX stated:
Though we’re able to checklist BMEX, the current market situations aren’t excellent, and we need to checklist the token in an setting that offers it the perfect probability to reward you, its holders. For such an necessary launch, timing is simply as necessary as every other issue.
Moreover, BitMEX additionally stated that they’ve robust “grassroots assist” for its BMEX tokens. Over the previous couple of months, BitMEX has additionally airdropped hundreds of thousands of tokens to 1000’s of customers for buying and selling.
In addition to, a number of customers are already having fun with the utility of BMEX by staking the tokens to obtain withdrawal refunds, charge reductions, and different perks.
Crusing Via the Bear Market
Each different cryptocurrency change at the moment has been struggling as a result of intense bearish sentiment available in the market. BitMEX too has been dealing with the warmth, nevertheless, has been managing to this point to beat the challenges.
Whereas high cryptocurrency exchanges like Coinbase and others have determined to chop employees, BitMEX is now decreasing its employees. Commenting on its current stand, BitMEX said:
Bear markets aren’t straightforward; we’ve got seen our share through the years and stayed robust, even with Bitcoin at a lot decrease ranges. As we glance to the long run, itemizing BMEX on our spot change stays our high precedence and we hope to have a good time this milestone with you quickly.
The cryptocurrency market as soon as once more turned bearish on late Monday. The broader crypto market cap slipped beneath $900 billion whereas the BTC has slipped beneath $20,000 ranges. Some Wall Avenue buyers expect one other 50% value correction to $10,000 for Bitcoin.
The introduced content material might embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty to your private monetary loss.
