Cryptocurrency
Ether Futures Activity Grows Ahead of July Protocol Upgrade
As reported by Coindesk, “BitMEX announced an ether quarterly futures product Friday, which it described as ‘the only one of its kind available in the market.’ Settled in bitcoin, the contract trades the ether-dollar pair, and expiry is in June. This coincides with the scheduled ETH 2.0 launch in July, which Ethereum researchers are confident will happen, as CoinDesk […]
As reported by Coindesk, “BitMEX announced an ether quarterly futures product Friday, which it described as ‘the only one of its kind available in the market.’ Settled in bitcoin, the contract trades the ether-dollar pair, and expiry is in June. This coincides with the scheduled ETH 2.0 launch in July, which Ethereum researchers are confident will happen, as CoinDesk previously reported.
“Long positions in Bitfinex ether perpetual futures are also soaring ahead of the Ethereum upgrade. Those contracts began noticeably climbing starting in mid-March, just after the price of ether crashed to a little above $100.
“While quarterly futures have contract dates four times per year, perpetual futures trade without expiration dates. This gives traders some of the advantages of the futures markets such as high leverage while mimicking the price behavior of the spot market.
“‘As a major source of ETH liquidity, Bitfinex of course has a lot of ETH traders,’ Paolo Ardoino, CTO at Bitfinex, told CoinDesk. ‘The ETH 2.0 launch is being watched closely by investors and stakeholders,’ said Ardoino…”