HashKey Floats Perp Contracts for SOL, DOGE, and AVAX

Asia-based HashKey Global is set to launch new perpetual contracts for Solana (SOL), Dogecoin (DOGE), and Avalanche (AVAX). With this development, HashKey aims to give its users diversified crypto trading options and experience, cementing its position in the market.

HashKey Introduces USDT-Based Perp Contracts

The newly introduced perpetual contracts on Solana use the Tether (USDT) stablecoin as its base. This means all contracts for SOL, DOGE, and AVAX traded on HashKey will be quoted and settled in USDT. Traders can trade either long or short positions of these digital assets at about 10x leverage.

These contracts will be available for trading around the clock to accommodate the 24/7 nature of the crypto market. The contracts have a funding rate limit of +0.75% / -0.75%, with funding fee settlements occurring every eight hours.

Each contract has been set specifically to the respective cryptocurrency. For example, both the SOLUSDT and AVAXUSDT contracts have a tick size of 0.01. However, the DOGEUSDT contract, features a smaller tick size of 0.00001, reflecting Dogecoin’s generally lower pricing.

Traders who decide to go long can make a profit if the price of SOLUSDT,  AVAXUSDT, and DOGEUSDT rises. On the contrary, traders who decide to short on these pairs will make a profit if prices drop.

USDT Sees Increased Adoption

USDT, currently ranked the third-largest digital asset by market capitalization, has grown to become a prominent token with increasing user adoption. 

The stablecoin’s growing popularity can be attributed to its utilization for payments in developed and emerging economies. Additionally, the transparency of Tether’s reserves and its peg to the US dollar (USD) adds trust in USDT. 

According to reports from BGEcrypto, USDT has also gained popularity on the Open Network (TON). On the network, USDT’s net circulation has exceeded 500 million, highlighting its growing acceptance.

Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGEcrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.