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Ethereum Futures Coming To Wall Street

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Ethereum futures

Crypto backed futures contracts have been the subject of debate ever since the CBOE and CME group started offering Bitcoin (BTC) futures contracts back in mid-December 2017. What happened before the investment instrument went live on Wall Street, is that BTC experienced the greatest bull run to date. By December 17th, BTC was trading at levels of $20,000. After the futures contracts went live, the price of BTC has reduced to current levels of $7,000.

It is with the above example, that news of the CBOE exchange planning on offering Ethereum (ETH) futures sometime this year, that the investment product might be viewed as a double-edged sword to ETH. To start, we might see a rally of ETH to unseen highs as was the case with BTC last year. With the Ethereum futures contracts being scheduled for release late this year, it might be a similar trend for ETH from current levels of around $300 to maybe $10,000. This is given the fact that BTC experienced an increment of approximately 3,300% from September 2017 to December 17th, 2017.

Once ETH pumps to the hypothetical levels of $10,000, we might then see a decline in value as was seen with BTC right after the futures contracts started being traded in December of last year. There is a silver lining if ETH would later decline in that it would be to higher levels of around $2,000.

Ethereum Futures Are Already Available

Another side of the argument is that the anticipated excitement around Ethereum due to the planned CBOE Ethereum futures contracts, might not be as huge as that of Bitcoin last year. This is due to the fact that there are plenty of trading platforms already offering Ethereum futures contracts.

To start is the UK based Crypto Facilities that have been offering futures contracts on the five major cryptocurrencies of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BTC), Litecoin (LTC) and XRP. There is also BitMEX that has been thriving lately due to its futures contracts on the aforementioned 5 cryptocurrencies as well as Cardano (ADA), EOS and Tron (TRX).

ETH is Ready for Wallstreet

Apart from Crypto facilities, all the other futures contracts on Ethereum have only been available on crypto exchanges and not traditional markets. With the ETH futures contracts by the CBOE, a second cryptocurrency gets the much-needed attention of Wall Street further proving it is a viable investment option.

Danny Kim, Head of growth at SFOX (a crypto trading technology firm), had this to say about the ETH futures:

“Cboe’s offering will enable crypto traders to take both long and short positions in ether, and it’s another step forward to a new accepted asset class. With this, I think the new investment opportunity will take crypto out of the bearish market and reverse to a new bull.”

CBOE President Chris Concannon, added that this could be a possible path to an ETF backed by Ethereum:

“We started down this road in the form of an ETF. A healthy market is a healthy underlying market, derivatives markets, and an ETF. That will take time.”

According to sources, CBOE would be basing its futures on Gemini’s underlying market. CBOE also based its Bitcoin futures on the Gemini exchange in  New York and owned by the Winklevoss twins.

The Commodities Futures Trading Commission is doing its due diligence with the product before it gives it a thumbs up for trading. The SEC, on the other hand, does not view ETH futures are violating any securities laws further validating the cryptocurrency and the futures contracts.

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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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Ethereum

How can Ethereum casino improve the online gambling industry?

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Ethereum Casino

The undisputed king of the cryptocurrency industry is Bitcoin for the moment. This is an undeniable fact, maybe because it was the first and has been around for more than 10 years. But coming in a close second place is the Ethereum that has also been around for quite some time now. When it first emerged, ETH brought some major improvements to the table, most notably even faster speeds of transactions and the smart contract technology. From the get go, crypto casinos noticed the potential of Ethereum and that’s how the first ETH Casinos started to emerge. Since then Ethereum Casinos started going full throttle towards the progress of the gambling industry, bringing with themselves a ton of massive improvements that are truly revolutionizing the casino world.

The speed of Ethereum Casino

The first thing that everyone in the casino world notices is the incredible speed of the ETH Casinos. This is due to the fact that Ethereum uses smart contact technology that allows players to deal directly with the casino. This cuts down the time significantly and all processes are completed within a matter of minutes. For example, the classic online casinos take days to finalize the transactions, because they wait for 3-rd party organizations like banks. In case of Ethereum Casino, the deal happens directly, which translates into transfers that are made almost momentarily.

Security and Anonymity of Ethereum…

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Altcoins

3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Altcoins

Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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