FTX Derivatives Exchange Launches Eight Popular Chinese Cryptocurrencies Index

FTX Derivatives Exchange Launches Eight Popular Chinese Cryptocurrencies Index

The FTX derivatives exchange has announced the launch of the Dragon Perpetual Futures Index (DRGN-PERP), which tracks eight popular Chinese cryptocurrencies.

General Manager Sam Bankman-Fried reportedThe index tracks a basket of crypto assets, including BTM, IOST, NEO, NULS, ONT, QTUM, TRX and VET. In addition, the exchange offers traders perpetual futures contracts based on an index with a leverage of up to 101x.

Recall that in China it is forbidden to trade cryptocurrencies since 2017, so all supporters of digital assets work from other, more friendly industry jurisdictions. However, China recently expressed support for the blockchain industry, which led to a sharp increase in cryptocurrency prices and user interest in Chinese cryptocurrency projects.

A statement by the PRC chairman was made almost simultaneously with the approval of the first cryptography law in the history of the country, regulating various aspects of the use of blockchain. In addition, this week China warned against cryptocurrency speculation amid the hype surrounding the blockchain.


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