Chicago Mercantile Exchange Launches Ethereum Transactions!

 

The Chicago Mercantile Exchange (CME) has launched futures contracts for ether, the native cryptocurrency of the Ethereum blockchain network.

Etherium futures, announced in mid-December, started late on Sunday. And it recorded an opening price of $ 1,669.75 for the February contract. Just at that time, the spot price was about $ 1,600. Chicago-based stock exchange headquarters stated that it has traded 77 contracts since its opening, and that most activities are concentrated towards the end of February. Futures contracts are legal contracts to buy or sell the crypto asset at a predetermined price at a later date. Chicago Mercantile Exchange Etherium futures are paid in cash. It is based on an exchange reference rate, which includes data from major cryptocurrency exchanges Bitstamp, Coinbase, Gemini, itBit and Kraken. The world's first regulated futures product, Ether, can drive more institutional demand for the second largest cryptocurrency by market cap and trigger a price increase. "Traditional financial institutions that bought BTC are following ETH for good reasons." Qiao Wang, a cryptocurrency researcher and co-founder of Messari, tweeted on Sunday, said, "The most frequently used crypto network + the future of finance + a potential anti-deflation monetary policy makes Ether extremely attractive." Wang predicts that Ether will rise to $ 5,000 or above in the long term. Ethereum hit record highs of over $ 1,700 on Friday. Price of Ethereum at the time of writing $ 1739.62   Source: https://finance.yahoo.com/ You may also be interested in this:

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