Bybit Lists Equity Perpetual Contracts for PATH, CYPH, and HUT With Up to 25x Leverage

WHY IT MATTERS

Think of a perpetual contract like a bet on whether a stock's price will go up or down, except you never actually own the stock. Instead, you trade on a crypto exchange using cryptocurrency or stablecoins. The "perpetual" part means the contract has no expiration date, unlike traditional futures that settle on a specific date. Leverage of 25x means that for every $1 you put in, you control $25 worth of the asset — but this also means losses are magnified by the same factor. This listing matters because it shows how crypto exchanges are increasingly offering products that overlap with traditional stock markets, potentially making these markets more accessible but also introducing significant risk for inexperienced traders.