Share this article
FTX Launches Futures on Index of 8 China Cryptos Amid Xi Blockchain Pump
Derivatives exchange FTX has launched an index of eight popular Chinese cryptocurrencies, as well as futures offering exposure to the basket.
Updated Sep 13, 2021, 11:38 a.m. Published Oct 29, 2019, 3:30 p.m.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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 of the promoters of this coin now operating from friendlier shores since the ruling in 2017.
The exchange – which operates out of Antigua and Barbuda – has a history of providing less orthodox indices, having launched the amusingly titled Shitcoin Perpetual Futures Index in August. That offering covers a basket of 58 low-market cap cryptocurrencies.
The timing of the DRGN-PERP launch probably couldn't have been better, coming days after Chinese President Xi Jinping urged his country to “seize the opportunity” afforded by blockchain technology and proposed adoption across a wide range of sectors.
Chinese blockchain and tech stocks saw a massive spike in interest after Xi's comments, prompting authorities to urge investors to avoid speculative behavior.
"China recently voiced support for the blockchain industry, causing a bunch of cryptocurrencies developed there to skyrocket in price and driving intense user interest in Chinese cryptocurrency projects," Bankman-Fried said.
Chinese dragon image via Shutterstock
More For You
需要了解的:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Zcash Floats Dynamic Fee Plan to Ensure Users Won’t Be Priced Out
ZEC zoomed 12% amid the fee discussion, beating gains across all major tokens.
需要了解的:
- A new proposal by Shielded Labs suggests a dynamic fee market for Zcash to address rising transaction costs and network congestion.
- The proposed system uses a median fee per action observed over the prior 50 blocks, with a priority lane for high-demand periods.
- The changes aim to maintain Zcash's privacy features while avoiding complex protocol redesigns.
Top Stories
