13.5 C
Manchester
October 4, 2022
Image default
Bitcoin

ETH Futures now available on CME –

Chicago Mercantile Exchange (CME) has launched long-awaited futures on Ethere – the native cryptocurrency of the Ethereum network. You can say it officially – ETH futures are now available!

Futures on ETH

In mid-December the platform announcedthat ETH futures trading will start on February 7. The February contract shows an opening price of $ 1,669.75. At that time, the spot price was around $ 1,600.

77 futures have been traded on the Chicago Stock Exchange, with most of them maturing in February. Futures contracts are legal contracts to buy or sell crypto assets at a predetermined price at a later date. CME futures are cash settled. They are based on a reference exchange rate based on data from major cryptocurrency exchanges – Bitstamp, Coinbase, Gemini, itBit and Kraken.

The world’s first regulated ETH futures could attract greater institutional demand for the second largest cryptocurrency by market value. This, in turn, may further accelerate price increases.

Experts on Ethereum

“The first traditional financial institutions to buy BTC before are now looking at Ethereum. And rightly so. It is the most used crypto network, the future of finance, and the potential deflationary narrative about monetary policy makes it extremely attractive “

Yes he wrote on Twitter on Sunday, Qiao Wang, cryptocurrency researcher and investor, and co-founder of Messari.

Wang predicts Ether will grow to $ 5,000 and more in the long term. At the time of publication, the price of ETH is close to $ 1,632. This represents an increase of 1% during the day. Vitalik Buterin’s project hit a record high of $ 1,700 on Friday.

The value of the cryptocurrency has more than tripled since CME announced its plans to go public on December 16. Ether thus copies the bitcoin rise from $ 6,000 to $ 19,783 seen in the weeks leading up to December 17, 2017. It was also then that the exchange started trading bitcoin futures.

While bitcoin peaked the same day and then transitioned into a year-round bear market, ETH is likely to remain a good investment. “The market is more mature now, different players are involved,” trader and analyst Alex Kruger tweeted last week. Kruger has definitely ruled out the possibility of an ETH crash.

Wang expressed a similar opinion. He also warned that betting on the ETH bear market would be “the worst deal of your life”.
Patrick Heusser, head of trade at Swiss Crypto Finance AG, predicts ETH will be a leader in the wider market.

“I’ve been turning on the ETH / BTC pair over the weekend for a long time and reduced some of my exposure to DeFi. I do not see a connection with the listing of ETH futures and a specific price action related to it “

Related posts

– Bitcoin, cryptocurrencies and blockchain technology.

Aparnna Hajirnis

Bitcoin is gaining ground in Argentina. Reason? Inflation! –

Aparnna Hajirnis

Bitcoin for $ 160,000 in 2021 – Bitcoin Radio Birthday # 52 –

Aparnna Hajirnis

Leave a Comment