For a while now, investors have been waiting on futures for Ethereum (ETH), the second largest cryptocurrency by market capitalization. These expectations have been stifled though, with regulatory uncertainty and interest concerns about the crypto asset.But, according to a recent report from The Block, the CME Group, one of the world’s largest financial exchanges, is prepping to launch a product for Ethereum. For those unaware, the CME is a Chicago-based institution that famously launched Bitcoin futures near the peak of 2017’s boom.The Block’s Frank “Fintech Frank” Chaparro suggests that the CME altering its reference rate and index for Ethereum could mean that futures are coming. An industry source told the outlet that this change is being done to “prep for an Ether” vehicle.You see, according to the individual in question, cash-settled futures like the CME’s cryptocurrency contracts can be manipulated, requiring a robust index to mitigate such risk. This recent alteration may be taking place to convince regulators to approve of Ethereum-related products.Ethereum Futures Gain SupportThis tidbit of news comes as Ethereum futures have garnered support from key individuals in the cryptocurrency community.One such…
Binance, the world’s largest cryptocurrency exchange by trading volume, is soon to launch futures trading.During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng “CZ” Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets.“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks,” he said. Referring to the screenshot of the interface showed on the stage, Zhao added:“This is an actual screenshot of the working system. So Binance futures is coming.”He indicated in his presentation slide that the leverage could be up to 20 times and will be offered for trading on bitcoin initially. While a firm releasing date of the feature is not yet set, a Binance spokesperson told it plans to launch the test in about two weeks from now.The futures trading feature comes after the firm rolled out margin trading on the platform last month.“Margin trading will roll out to all users first (around July 11…
One thing is sure: criticism against Bitcoin isn’t always justified. It’s one of the most promising technologies of the 21st century, but it’s still in its infancy. We must give it some time.