BitMEX CEO Stephan Lutz discussed the increasing influence of perpetual swap contracts on the value of altcoins. These contracts allow traders to speculate on coin prices without owning them, facilitating a unique price discovery process for newly launched altcoins. According to Lutz, perpetual swaps enable traders to take both long and short positions, offering insights into market sentiment and bias. Additionally, these contracts can lead to significant movements in spot prices due to high liquidity and leverage. Lutz stressed the importance of tracking perpetual swap data, particularly how exchange listings impact their market behavior. An analysis showed that 70% of contracts on OKX reached all-time highs on their first day versus 41% for BitMEX and Bybit. Lutz advised traders to choose their exchanges carefully to enhance ROI and mitigate risks associated with pump-and-dump schemes.

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