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Bitfinex announced a series of changes for its Tezos trading pairs that are meant to “enhance the trading experience” of its customers. Despite the significance of the announcement, XTZ continues pulling back after the 190 percent rally it went through since the beginning of the year.
Maximum leverage for Tezos
In a recent blog post, Hong Kong-based cryptocurrency exchange Bitfinex revealed that it will increase leverage for its Tezos trading pairs. Now, users will be able to trade XTZ/USD and XTZ/BTC with a maximum leverage of 3.3x instead of only 2x.
The decision to enable higher leverage for Tezos is due to the interest that market participants have shown for this cryptocurrency, according to Paolo Ardoino, Bitfinex’s CTO.
“[Tezos] is becoming a well established and liquid market on Bitfinex. [Thus, it is] time to switch gears and allow increased leverage to 3.3x.”
As of Feb. 17, users will also be able to enjoy a lower initial equity of 30 percent and a lower margin maintenance of 15 percent. Additionally, the XTZ token can now be used as a collateral with a market maker’s spread or haircut of 30 percent.