Bitfinex Now Has a Derivatives Contract Offering Exposure to Bitcoin Dominance

Bitfinex Now Has a Derivatives Contract Offering Exposure to Bitcoin Dominance

Credit: Shutterstock/Brian A Jackson

A new derivative from Bitfinex allows investors to take a position on bitcoin’s overall share of the cryptocurrency market.

The Seychelles-based crypto exchange said Wednesday the BTCDOM contract would allow investors to bet on dominance rate – a metric for determining the market’s bitcoin value versus the value of other cryptocurrencies.

The first of its kind, BTCDOM is a perpetual swap – a future without expiry date – that relies on a proprietary Bitcoin Dominance Index, comprised of seven of bitcoin’s most liquid trading pairs, including those with large-cap coins, such as , , and .

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