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Ethereum (ETH) Futures Are Here and Being Offered by UK Firm

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Ethereum Futures
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News reaching Global Coin Report indicates that there is a UK Based Crypto trading platform that has launched the ‘First Regulated’ Ethereum (ETH) futures. The trading firm is known as Crypto Facilities and has been offering other Futures products for quite some time now. The firm was the first to offer Ripple (XRP) futures back in September 2016 when its main goal was to expand its new platform by adding additional products, assets, and derivatives.

The trading firm made the Ethereum (ETH) Futures announcement only yesterday and had this to say:

“The first Ethereum futures to be offered by a regulated firm, the products will enable market participants to take a long or short position in the cryptocurrency, allowing them to broaden investment opportunities and manage risks more effectively.

The new contract expands Crypto Facilities’ derivatives offering which currently includes Bitcoin and Ripple futures. Crypto Facilities is a world-leading cryptocurrency trading platform for professionals, offering individuals and institutions regulated, transparent and secure trading 24/7/365. The firm provides CME Group, the world’s largest derivatives exchange, with the CME CF Bitcoin Reference Rate that powers CME Group’s Bitcoin futures.”

The firm’s CEO, Toby Allen, cited the popularity of Ethereum as one of the reasons to offer the new product on its platform. He also added that the popularity of the Ethereum Smart Contracts makes it a good choice for the new trading instrument on its platform and that ETH Futures will be a giant leap in the development of the crypto asset class.

However, past experiences with the launch of Bitcoin (BTC) futures might make many Crypto- traders wary of the new product. The introduction of BTC Futures last December by the CME Group has been blamed, albeit silently, for the sudden drop of BTC prices that was kicked off on the 17th of December. Before the BTC Futures started trading, BTC was enjoying new heights of over $19,000 only to drop significantly and starting on the day after the BTC futures started trading.

Current price predictions put Ethereum at $2,500 by end year. Could the introduction of ETH Futures turn out to be an impediment in the attainment of this value?

The current market analysis put Ethereum at $667 at the moment of writing this and down 4% in 24 hours. The King of Smart Contracts had seen some glimmer of hope by reaching near $900 levels when it had peaked at $839 on the 6th of May. It has since dropped to current levels that have been accelerated by news of popular South Korean exchange, Upbit, being raided by Authorities over accusations of ‘cooking its books’. There are also rumors of the Mt. Gox trustee dumping another round of BTC in the markets.

In conclusion, the effects of the addition of ETH Futures is a welcome sign of crypto products being considered as alternative investment options. The effects of the announcement will be seen once the dust clears with respect to the above two events currently affecting the crypto-verse.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blogs

TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Ripple
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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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Altcoins

Ravencoin (RVN) Surges Following Binance Listing

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Ravencoin
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While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.

About Ravencoin

Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.

Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.

Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.

Ravencoin got listed on Binance prior to MainNet launch

Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.

Getting listed on Binance has brought Ravencoin to the top…

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