Litecoin Futures Are On Their Way
Crypto Facilities, UK-based exchange, trading crypto futures are starting to sell Litecoin (LTC) derivatives contracts this Friday.
The new US dollar contracts will allow both long and short trading, with the maturity of a week, a month and a quarter. Distinctly, the contracts will have Litecoin as their collateral, which is different from the current Bitcoin (BTC) futures contracts on exchanges like CBOE and CME.
The launch of new futures comes just a month later Crypto Facilities started offering Ethereum (ETH) contracts to investors, besides its existing Ripple (XRP) and Bitcoin (BTC) derivatives.
At the beginning of this month, Chris Concannon, CBOE Global Markets president, announced that Ethereum (ETH) futures could soon be allowed on their platform after the news from Exchange Commission (SEC) and a senior U.S. Securities executives advised not to regulate Ethereum as security under U.S. law.
Crypto futures had drawn plenty of discussions this month when Tom Lee from Fundstrat attributed Bitcoin’s “gut-wrenching” price instability and “significant volatility” to the time when CBOE futures contract are expired.
A study released by University of Texas on the 13th of June 13 claimed that transaction patterns show that US-dollar back Tether (USDT) is being used to artificially deflate the price of Bitcoin to maximize short-term gains on futures contracts.
Additional reports suggested that the U.S. CFTC (Commodity Futures Trading Commission) has been investigating major U.S. crypto exchanges for possible price manipulation on the markets.
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