BitMEX Insurance Fund Holds more than $300 Million

August 26, 2019 12:43 AM UTC

BitMEX is a cryptocurrency exchange that offers up to x100 leverage to its users. It is one of the most popular exchanges and is among the top when it comes to volume traded. BitMEX fund is currently holding around $314 million in Bitcoin. BitMEX’s fund was only a bit over $200 million on May of this year.

The Fund is actually public and anyone can see see it. Click here to check the current BitMEX Insurance Fund

The fund was created to avoid auto-deleveraging in positions, it is used to help with unfilled liquidation orders. BitMEX has an innovative system that doesn’t allow traders to have a negative balance so the risk when leveraging is minimized, traders can only lose the initial trading amount.

The fund grows from other liquidations that were executed at a price better than the bankruptcy price for that specific trade. Currently, BitMEX holds 31,305.54 Bitcoins which represents around 0.17492% of the current Bitcoin circulating supply.

 

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