The firm is undercutting larger rivals in its bid to grow market share.
BitMEX — one of the longest-running exchanges in digital asset futures space — is hoping that the launch of a spot new market will help it lure retail customers in the midst of the crypto trading doldrums.of its founder Arthur Hayes, unveiled on Tuesday its new spot market, offering the trading of cryptocurrencies like bitcoin, ether, Bored Ape Yacht Club's APE token, and Uniswap's governance token UNI.
"It is completely different from our classic look and feel," said BitMEX Vice President of spot Genia Mikhalchenko. He is hoping that will appeal to retail traders who may be looking for new options after the most recent downturn. Taking a realist approach, Mikhalchenko said he's aware BitMEX is late to the game on gate-crashing spot trading, adding that the firm doesn't have any"delusions" about its prospects.
"Given everything that's going on... this will be especially attractive," he said, referring to the draw down in crypto prices.
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