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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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