Jpex launches NFT index contracts for bull, bear market success
Under the current bear market, users are uncertain about the future. NFT index contracts launched by Jpex Crypto Platform provide a solution.
NFTs promote blockchain technology
Although NFTs led to the recent bull run, the cryptocurrency market is still in a bear market. The price of common cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) has fallen more than 70% from its historical highs, and altcoins and NFTs are no exception.
According to Red Hare NFT Index data analysis, NFTs have decreased by more than 79.3% in the last 60 days.
source: jp-ex.io
NFT index contracts promote industry development
The contract market supports two-way trading compared to spot markets – ie traders buy similar contracts whether prices rise or fall. Contract markets provide better trading opportunities, with returns in both beef and bear markets.
source: jp-ex.io
Jpex has partnered with Red Hare and launched NFT index contracts with Bored Ape Yacht Club and Mutant Ape Yacht Club on June 11 for users to buy or short.
What is the Red Hare NFT Index?
The Red Hare NFT Index tracks NFT projects and collects trade data on the chain.
NFT index contracts are the only hedging tool available to current NFT holders; users can profit from buying or selling short. NFT index contracts support up to 40 times normal influence – ie when prices plummet, NFT holders can profit from short sales.
With NFT index contracts, users can hedge their risk and lower the threshold for NFT trading.
Jpex’s CryptoPunks index contract
Jpex launched NFT index contracts on CryptoPunks and Red Hare NFT on June 24, providing a reliable hedging tool.
Jpex has obtained financial licenses from the Lithuanian Financial Crime Investigation Service, the United States Money Services Business (MSB) and the National Futures Association, the Canadian MSB and the Australian Securities and Investments Commission.
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