ethereum ethere
| Name | Price | 24H % |
|---|---|---|
 | $0.00 | -2.08% |
Reports of an Ethereum Futures Contract is nothing new among observers of the crypto space. For starters, the UK-based cryptocurrency trading platform, Crypto Facility launched Ethereum Futures contracts in May. BitMex also offers ETH futures alongside futures of other cryptocurrencies including Bitcoin [BTC], Cardano [ADA], Tron [TRX}, and EOS [EOS].
In the United States, however, CBOE has for long been linked with reports of a possible ETH futures contract. Earlier this week, these reports resurfaced raising hopes of a price surge for ETH—observes agree that ETH could really use some rallying at the moment.
For its part, CBOE have nursed the idea of an Ethereum Futures Contract as stated by its CEO, Chris Concannon in June. The Securities and Exchange Commission (SEC) had just clarified its position that Ethereum would not be classified as a security. Concannon said that the decision would allow the network move forward with its plan to introduce ETH futures. This was reiterated recently; reports suggesting that CBOE was ready to move ahead once they receive the green light for the CFTC (Commodities Futures Trading Commission)
How will an ETH Future affect Ether [ETH] Price?
When approved and introduced, ETH futures will attract institutional money into the market. When institutional investors who command substantial amount of money invest in ETH futures contracts, it is expected that it will boost liquidity. At the moment, ETH market is limited to trading of market orders.
ETH Futures involves betting on future outcomes of ETH prices. Though it may not directly bring money into the ETH market, it is sure to lead activities that will influence ETH prices in the short term, at least. One of these is a media attention it will bring to the cryptocurrency market, which like we have seen in the past, can be driven by speculation. While media speculation may work against prices in the future, it wouldn’t hurt to see it bring some much needed price spike and some confidence to the ETH market.
Ether [ETH] Price watch
| Name | Price | 24H % |
|---|---|---|
| $0.00 | -2.08% |
At the time of writing, the price of Ether [ETH] stood at 257 to the dollar (USD) down 10 percent from the last 24 hours. This reflects the struggle the to reach the $300 mark once again. Yesterday’s highs and lows were $291.58 and $284.26 respectively with a total trade volume of over 1.5 billion according to data from CoinMarketCap. The market cap is currently $26.1 billion USD down from $30 billion at the start of the week.
We can only wait and see the extent to which the ETH futures will affect the prices when eventually launced
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.
