Bitfinex opened trading for two of the biggest EU Stock indices, dipping the toes into the equity markets which could get more interesting in the future as we are reading more in the latest cryptocurrency news.
The crypto exchange Bitfinex opened two of Europe’s top stock indices, Europe 50 and the DAX 30 to the futures exchange. The indices will be tradeable by using perpetual contracts and the markets will also be opened 24 hours a day, presenting a unique edge over the stock brokerages. Bitfinex launched two equity index futures on the platform, Perpetual contracts for EU 50 index which was developed by the index provider STOXX, and the Germany DAX 30 which went live today at 9:00 AM.
The Europe 30 index collects the top blue chips equities of the continent including major brands like Vodafone, Nestle, and Barclays. The top 30 companies of Germany comprise the DAX 30 index. Exchanges like Phemex have already listed perpetual contracts for gold but this is the first time for an equity product listing on a crypto exchange. This opens the doors for cross-asset trading strategies on the exchange which allows traders to take advantage of unique situations on the European equity market.
Bitfinex’s contracts will trade non-stop unlike other equity markets and this could even become the ideal playground for the traders to act on events that happen when the stock market is closed. Permissionless derivative protocols such as Synthetix listed indices like Japan’s NIKKEI 225 and the UK FTSE 100. The demand for these instruments has yet to gain more traction. With an easier on-ramp to Bitfinex compared to the one of Synthetix, the centralized exchange stands a bigger chance of attracting the crypto traders that are looking to enter equity markets without fragmenting their capital across different financial markets.
Bitfinex invests in lightning network bitcoin exchange which is a trading platform built on top of the Lightning network that closed a pre-seed funding round. LN markets, the trading platform, closed pre-seed funding round for an undisclosed sum and despite Bitfinex, Arcane Crypto and Fulgur Ventures participated. LN markets are the first BTC derivatives exchange that is built on top of the Lightning Network which raised pre-seed funding round to give the project away forward into collaboration with Bitfinex.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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