Cryptocurrency
Traders Can Now Bet on the Bitcoin Mining Difficulty With FTX’s Futures
As reported at NewsBTC, “Cryptocurrency derivatives exchange FTX has announced the launch of Bitcoin Hashrate Futures. According to the announcement, the contracts expire to the average Bitcoin mining difficulty at the end of each quarter. The products are set to help miners hedge against Bitcoin’s difficulty adjustment. “Bitcoin Hashrate futures just got launched on FTX, […]
As reported at NewsBTC, “Cryptocurrency derivatives exchange FTX has announced the launch of Bitcoin Hashrate Futures. According to the announcement, the contracts expire to the average Bitcoin mining difficulty at the end of each quarter. The products are set to help miners hedge against Bitcoin’s difficulty adjustment.
“Bitcoin Hashrate futures just got launched on FTX, a cryptocurrency exchange whose innovative products such as the presidential and leveraged tokens pushed it to the forefront of the derivatives market.
“According to the company’s announcement, the Bitcoin Hashrate futures are contracts that expire to the average Bitcoin mining difficulty over a period of time. This, the company said, means that they represent the total hashpower used to mine Bitcoin.
“Launched today, the hashrate futures will start at the beginning of a quarter and expire at the end of the quarter. For example, the Q32020 Hashrate Future will expire to the average difficulty of mining Bitcoin for a period between July and September 2020.
“The current Bitcoin difficulty is 16.10T. The futures will expire at the average of difficulties for the quarter divided by a Trillion…”