Derivatives exchange FTX has launched an index of eight popular China-related cryptocurrencies.
Announced in a tweet by the firm’s CEO Sam Bankman-Fried Tuesday, the Dragon Perpetual Futures Index (DRGN-PERP) tracks a basket of coins including BTM, IOST, NEO, NULS, ONT, QTUM, TRX, and VET, based on a weighted average of their respective prices.
FTX is also offering traders exposure to the coins in the form of perpetual futures contracts based on the index.
Traders will be able to leverage these contracts up to 101 times, Bankman-Fried told CoinDesk.
While widely known within China, the country does not permit crytpocurrency trading, with all o