BitMEX Updates Mark Method for ZKUSDTZ24 to Fair Price Marking

BitMEX
has
announced
a
significant
update
regarding
the
Mark
Method
for
its
ZKUSDTZ24
trading
pair.
Effective
June
17,
2024,
at
13:00
UTC,
the
platform
transitioned
the
Mark
Method
to
Fair
Price
marking,
according
to
the

BitMEX
Blog.

Enhanced
Pricing
Accuracy

This
strategic
shift
is
aimed
at
improving
the
accuracy
of
the
pricing
mechanism
for
ZKUSDTZ24.
BitMEX
has
constructed
a
robust
index
that
represents
the
spot
prices
of
ZK,
which
will
now
be
priced
on
the
.BZKT
index.
This
index
aggregates
ZK
prices
from
multiple
prominent
exchanges,
including
Binance,
Bybit,
Gate.io,
and
Kucoin.

Removal
of
Price
Protections

Alongside
the
change
in
the
Mark
Method,
BitMEX
has
also
removed
the
Limit
Down
and
Limit
Up
price
protections
for
ZKUSDTZ24.
This
update
is
expected
to
provide
traders
with
a
more
transparent
and
fair
trading
environment.

Industry
Context

The
move
to
Fair
Price
marking
is
part
of
a
broader
trend
in
the
cryptocurrency
trading
industry,
where
exchanges
strive
to
offer
more
accurate
and
reliable
pricing
mechanisms.
By
incorporating
data
from
multiple
reputable
sources,
exchanges
like
BitMEX
aim
to
enhance
market
integrity
and
trader
confidence.

For
additional
queries
or
support,
users
are
encouraged
to
contact
BitMEX
support
through
their
official
channels.

Image
source:
Shutterstock