OKEx, the popular cryptocurrency exchange has opened the year on a positive note by launching Ethereum Classic and Litecoin perpetual swap. Announced today, the perpetual swap of these altcoins are available on the OKEx trading platform from 2nd January, 11 am (CET, UTC+1) onward.
Ethereum Classic [ETC] holding 17th top most position in the global market by its market cap has contract face value marked at $10 with a minimum price interval of 0.001 point. The leverage range is marked in between one to 40x. The settlement and funding fee occur once in every 12 hours daily at 3am and 3pm.
Litecoin [LTC], the seventh most valuable crypto, shows the contract face value at $10. The leverage range and the funding fee with settlement remain the same with Ethereum Classic [ETC]. However, the difference lies in the minimum price interval, which stands at 0.01 point.
The trading pairs of Ethereum Classic [ETC] are available in four prominent trading platforms. OKEx and Binance supports the ETC/BTC pair; Kraken, the US based crypto exchange and GDAX have ETC/USD trading pairs. For Litecoin, the trading pair of LTC/USD is available at three different crypto trading platforms such as Kraken, GDAX and Bitstamp. Finally the pair consisting LTC/BTC is available at the OKEx.
Last month, OKEx designed a Perpetual Swap, a Virtual Financial Asset (VFA) based derivative product, that was released on its app and website. The new derivative under the management of the leading cryptocurrency trading platform has no delivery and expiry feature. The face value of each swap contract is $100. It is interesting to note that despite being akin to OKEx Futures Contract, the Perpetual Swap bears distinctive points of differences, as well.
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