Bybit, one of the best and largest cryptocurrency exchanges in the financial market, offers a standalone derivatives trading platform with inverse and perpetual futures contracts with leverage up to 1:200.
In order to provide users with the best trading experience, Bybit plans to change the collateral value ratios for 15 assets for Unified Trading Account (UTA) users.
According to Bybit’s post on X, the changes will take effect on April 25, 2024.
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"Please monitor your account closely for any changes in available margin after the adjustments to reduce account risk and avoid any potential negative impact on your assets," the exchange noted on the announcements page.
The ratios will change as follows:
- RNDR from 60% to 70%
- TON from 60% to 70%
- CHZ from 50% to 60%
- AR from 50% to 60%
- QNT from 50% to 60%
- OP from 25% to 70%.
- IMX from 5% to 60%.
Some assets will have reduced collateral ratios:
- TUSD from 98% to 80%.
- PEOPLE from 70% to 60%
- BAT from 60% to 50%
- ACH from 60% to 50%
- AGLD from 60% to 50%
- CLAY from 60% to 50%
- ID from 60% to 50%
- CORE from 50% to 40%.
The crypto exchange also announced the upcoming listing of Brett (BRETT) on the spot trading platform. On April 18, BRETT deposits will open at 06:00 UTC, listing will begin at 8:00 UTC, and BRETT withdrawals will be available from 8:00 UTC on April 19, 2024. Deposits and withdrawals will be available through the Base network.
Bybit previously released data and confirmation of the exchange's cryptocurrency reserves, affirming its "belief in building user trust through proof."
Founded in 2018, Bybit provides mutual insurance for market participants against possible sharp price fluctuations.
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