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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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