Cryptocurrency Trading News: CrossTower Launches Crypto Perpetual Futures Trading Through Its Global Pro Platform

Crypto exchange CrossTower announced on Thursday (April 14, 2022) the launch of perpetual futures trading. This is now available on CrossTower’s Bermuda digital exchange, according to a statement from the company.

He further stated that perpetual futures trading is offered to qualified clients on an institutional-grade, regulated platform through the CrossTower Global Pro platform. In the coming weeks, CrossTower intends to roll out perpetual futures contracts on 20 of the major tokens.

Perpetual futures contracts are derivative contracts that, unlike traditional futures contracts, are not limited to a predetermined expiry date. The release states that the product offers CrossTower’s clients the flexibility to take long and/or short positions, consistent with their portfolio and risk objectives.

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Commenting on the announcement, Kapil Rathi, Co-Founder and CEO of CrossTower, said, “Perpetual futures contracts provide investors with essential tools that can facilitate and shape their investment goals. The benefits of perpetual futures trading are truly compelling for portfolio construction and we are excited to help mature the digital asset ecosystem. CrossTower develops cutting-edge trading products and we are delighted to be at the forefront of innovation.

The crypto futures market has seen immense growth over the past two years, driven by both retail and institutional demand.

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Bitcoin perpetual futures, seen as a barometer of demand for crypto derivatives, hit record open interest in 2021, averaging around $62 billion a day globally throughout the year last. As of March 2022, open interest for Bitcoin and Ether perpetual futures stands at c. $18 billion and $8 billion, respectively, according to Coinglass, a crypto futures trading and insights platform.

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