The Chief Executive Officer (CEO) of cryptocurrency exchange and derivative trading platform; BitMEX made it known during an interview with CoinDesk at the Token2049 conference in Singapore.
The Chief Executive Officer (CEO); Alexander Hoeptner while speaking to CoinDesk which is a leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web3 news with analysis, video and live price updates stated that, “If you launch a token in a market which clearly is not at all at the bottom, then your token will be drained down with the general environment.”
In July of 2022 BitMEX made it known that the launch of its token would be delayed as a result of the conditions in the market.
Read Also: Mastercard Unveils New Cryptocurrency Product
BitMEX stated via the announcement in July that, “Although we are ready to list BMEX, the present market conditions are not ideal, and we want to list the token in an environment that gives it the best chance to reward you, its holders.”
Read Also: Next Bitcoin Halving Set For Q4 2023 As BTC Hash Rate Hits New All-Time High
Just like is the case with other exchange tokens like cryptocurrency derivatives exchange; FTX’s FTT and cryptocurrency exchange; Binance’s BNB all token holders of BitMEX’s BMEX token will enjoy discounts on trading fees as well as other benefits.
BitMEX’s Chief Executive Officer (CEO); Alexander Hoeptner made it known that the particular launch date for the token will be dependent on whether or not the team at BitMEX thinks that yet another “tremendous dip” could occur soon.
Read Also: Celsius Is Looking To Sell Its Stablecoin Holdings Worth $23 Million
He added that releasing the token just before a dip occurs could result in attention getting placed on the declining value of the token’s price as opposed to paying more attention on the new features or other milestones like its successful registration in Switzerland and Italy.
Read Also: Horizon Blockchain Games Secures $40 Million From Take-Two, Ubisoft and Others
In his words, “People waited for so long. They can wait for another month or two.”
The cryptocurrency exchange and derivative trading platform; BitMEX, is owned and operated by HDR Global Trading Limited, which is registered in the Seychelles.
How informative was this particular article? Are there any other news topics, categories, or How To topics, that you would like us to write on? Feel free to reach out to Nexbit KE in the comment section.
