Ether Tops $1.7K, Setting New Record as CME Futures Launch Nears
The cryptocurrency has gained 30% so far this week.
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Micro Ether futures will become the fourth crypto derivatives product by CME and is expected to be launched on Dec. 6. The Chicago Mercantile Exchange (CME), one of the world’s biggest derivatives marketplaces, continues expanding its cryptocurrency derivatives offerings by adding a new Ether (ETH)-based product.CME announced Tuesday that it is planning to launch a micro Ether futures contract, sized at 0.1 ETH, enabling a new type of Ether exposure to institutional and individual traders.The new product will become the fourth crypto derivatives product ever launched by CME and is expected....
The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....
Analysts say the trading movement started by WallStreetBets may boost adoption of ether and other cryptocurrencies.
It's not just the Ether price itself setting records on Friday — users are having to pay more than ever to send transactions and some exchanges can't cope. Largest altcoin Ether (ETH) built on its recent all-time highs on Feb. 5 to climb ever closer to $2,000.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingViewEther price hits record $1,750Data from Cointelegraph Markets and TradingView showed a fresh breakout occurring for ETH/USD during Friday trading. At the time of writing, Ether was targeting $1,750 as 6.5% daily gains topped weekly returns of nearly 22%.Ether, Bitcoin YTD....
The new offering fits in with the variety of crypto-based products the major derivatives marketplace has developed since launching its pioneering BTC futures contracts in 2017. Derivatives marketplace Chicago Mercantile Exchange Group (CME Group) announced the launch of options trading for its Ether (ETH) futures products Monday — the same week as the expected Ethereum Merge.The launch of the new futures contract is “well timed,” CME Group global head of equity and FX products Tim McCourt said in a statement. He not:“As market participants anticipate the upcoming Ethereum Merge, a....