- BitMEX announces a perpetual swap contract for Ripple’s XRP tokens.
- Arthur Hayes, CEO of BitMEX calls Ripple’s XRP as a Dogshit.
Crypto derivative giant BitMEX has announced the new perpetual swap on the XRP token (XRPUSD) but CEO Arthur Hayes quickly slams it as Dogshit.
The tweet by BitMEX official confirmed that the exchange is supporting XRP for perpetual swaps on February 3 against USD which influenced the XRP army.
“We at BitMEX are proud to announce that trading of a new perpetual swap on the XRP token (XRPUSD) will begin at 0400 UTC on 5 February 2020,”
A perpetual swap contract works much similar to a futures contract but without a specific date at which the contract expires and has to be settled. Accordingly, users, in order to execute such trade, must pay funding fees.
On the other hand, CEO Arthur Hayes added a controversial note, stating that he doesn’t care about what Ripple, XRP or dogsh*t is about. He then mocks at saying, it’s worth more than zero and its time to trade the USD pair on BitMEX.
Hayes isn’t certainly the first one who criticized Ripple and XRP, in fact, many influencers in the past termed various names as XRP is viewed as the native currency of Ripple or Ripple is the parent company for XRP.
Noticeably, the announcement of the XRP perpetual swap didn’t excite XRP’s trading volume. At the press time, the token is valued at $0.25 against USD, declining by 0.22 percent within the past 24Hrs. More so, the token is valuing the market capitalization of $10,940,242,277. More, the crowning cryptocurrency Bitcoin and other altcoins also showing red figures on February 04, 2020.
Besides Hayes, Bitcoin adamant Tone Vays once called XRP a Penny stock. He also accused Ripple blockchain firm is selling scam crypto tokens to investors and argued that the XRP cryptocurrency is not decentralized also.
He stated that;
“I’m not even sure why people consider Ripple a cryptocurrency…To me, Ripple is just a stock of the Ripple corporation…It is totally useless, totally irrelevant,” –Tone Vays said at that time.
However, Ripple officials had appeared several times, addressing several criticizing comments, one such including “Ripple is dumping the value of XRP tokens”.