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Ripple (XRP): The new promise of cryptocurrency futures market

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Unlike Bitcoin futures market, XRP promises an authentic benefit for futures digital currencies investments. Regarding this, Ripple INC. has been deploying a futures marketplace for the intended third-biggest cryptocurrency for almost two years now, which will belong to the startup Crypto Facilities.

Still, there’s not much information about it, but as the CEO himself recently told CoinDesk, they are on their way to work along with some of the best market makers.

As a matter of fact, it wasn’t until Bitcoin was very close to getting their Bitcoin derivative regulated by CFTC (Commodity and Futures Trading Commission), that Schlaefer decided to quickly partner with Ripple in order to launch XRP futures, the second futures-related cryptocurrency after the Bitcoin futures product got regulated by FCA (Financial Conduct Authority) of UK.

Later on, XRP futures had a trading volume of $14.2 million a month, this after CME Group and Cboe opened in December their first futures product. A little later, just when the BTC futures contract of Cboe finished, XRP futures increased almost the double reaching the amazing number of $24.6 million.

Even so, it was not known by the outsiders that futures got traded in that big of a scale, but in fact, this is something that promises to change after the company is exploring now for other contracts and is on the way of keeping the excellent result for another month.

“The liquidity has been growing quite a lot,” Schlaefer said, adding: “We have seen our volume growing through February and expect March to set a new record.”

Imitating the price

Even when yet Schlaefer has not revealed the market makers’ identities he’s working with, the information provided to CoinDesk shows a potential growth.

For example, the XRP futures cash volume was very flat from its launching in 2016 ‘till March 2017, when the volume tripled to USD 3.08 million and continued growing to the significant number of USD 12.1 million just a month later. Moreover, something similar happened to XRP during this time, passing from USD 0.03 to USD 0.34, although then it shrunk notoriously.

Nonetheless, it went back up again later when XRP futures and XRP increased one more time to USD 24.6 million and $3.53 respectively (a record reach).

Regarding this, Schlaefer stated that an average number of 2500 people on XRP futures seems small, but this represents only 30% of the final amount of investors the company owns. Furthermore, most of the trading transactions are labeled as retail investments, and that doubtlessly represents an excellent chance for the company.

Continuing momentum

There are many reasons to believe futures market can continue emerging. For instance, CME, the $55 billion-valued company,  set a boundary post while working with the Crypto Facilities in Bitcoins futures launch.

Still, it’s uncertain if CME Group is considering to join XRP futures, although it is highly possible an alliance on this matter. Moreover, a Cboe member stated the executive chief claimed the company was willing to adding some other crypto-related options.

Similarly, Paul Chou, CEO of LedgerX and co-founder, the company responsible of launching the first regulated and physically-settled Bitcoin derivative product; recently declared his company is exploring the likelihood of adding XRP futures any soon.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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.

Image courtesy of Kristian Bjornard via Flickr

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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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.

Mission Statement

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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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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…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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