Bitfinex unveils public leader board to chart trading performances of traders on trading pairs listed on the platform.
Bitfinex Leaderboard Comes with Time Frame
Bitfinex recently launched a public leaderboard for traders, traders will be able to compare their performances with rival traders. Interestingly, launching such a leader board is a common practice among crypto exchanges. As a matter of fact, even BitMEX had a leaderboard for several years which displayed the top 25 traders by both notional profits and return on exchange.
While traders were unable to filter by time frame on BitMEX’s leaderboard, Bitfinex’s leaderboard reportedly will have a number of categories. These include trading profits in USD and the user’s trading volume and will have a time frame of 3 hours, 7 days and 30 days.
100x Leverage Trading for Bitcoin & Ethereum
The previous week Bitfinex went live with a new set of 100x leverage Bitcoin and Ethereum derivative markets. Prior to the rollout of its two new derivative contracts, traders could only trade up to a maximum of 3.3x leverage. Bitfinex’s leverage trading is not available in the US, Canada, Switzerland or even the Seychelles—where the firm is registered. Presently, it is available only in Hong-Kong.
When trading at the new maximum leverage of 100x, a trade can be liquidated on a position that moves against them just one percent. Interestingly, such liquidations can be done hourly in the highly-volatile crypto market. This could also be a possible reason for a large number of liquidations on BitMEX, which also offers high levels of leverage trading.
With that being said, it is great news for traders who seek to make good fortunes in the crypto market. While a healthy competition will raise vigor and enthusiasm in traders, it is hoped that traders are not carried away in the unpredictable market scenario, which may invariably lead to their names being seen in the bottom of the leaderboard.
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Bitcoin S2F Founder says Current dip cannot stop Bitcoin from Adding Another Zero
- Football Clubs Look To Mine Cash Revenue With Crypto Offerings
- Fed Readying To Launch The US Crypto Policy? White House Directs Agencies To Prepare Report
- Here’s Why You Should NOT Yet Buy the Bitcoin Dip, Miner Capitulation Ahead?
- MicroStrategy (MSTR) Stock On Free Fall As SEC Rejects Its Bitcoin Accounting Strategy
- Second Consecutive Crash Day Extends Investor Loses Over $350 Billion, El Salvador Buys the Dip
- DeFi’s Liquidation Volume Hits $34.33 M ATH, The Highest Since Last year’s December
- Portugal opens First Physical Store for Buying and Selling of Bitcoin
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?