Cryptocurrency exchange Xena Exchange announced the launch of the first cryptocurrency derivative to the Gram token with leverage. The tool will be available to users on February 27. This was reported to BlockchainJournal by representatives of the site.
Thus, investors of the project Telegram Open Network (TON) will be able to trade derivatives until the actual release of Gram tokens on the exchange.
“Everyone who wanted, but did not manage to buy Gram, will have the opportunity to earn money on the potential growth rate of the popular token, and the current holders of Gram will be able to protect their investments from a possible fall after listing on the stock exchanges. This is the first case in the cryptocurrency market when derivatives are used to hedge risks, ”said Anton Kravchenko, CEO of Xena Exchange.
According to forecasts of Xena Exchange, trading volume for Gram contracts will reach $ 3.5 billion in the first three months.
In addition, on February 18, Xena Exchange will launch a section for trading crypto-derivatives in addition to the existing spot engine. The first derivative on the stock exchange will be a BTC to USD contract.
“The ability to invest in cryptocurrency through derivatives should attract traditional and institutional investors in cryptographic markets, thereby ensuring the flow of new funds, increasing trading volumes and reducing volatility, ” added Anton Kravchenko.
Earlier, BlockchainJournal reported that by the end of 2019, the total cost of the Gram token could be $ 29.5 billion .
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