The bulls weren’t able to sustain the recent price spike in the crypto market, as most of the coins that were swimming in the green are now deep in the red. Ethereum (ETH) is also declining at a very fast rate, and it appears to be moving at the same velocity that drove its value below the $200 level.
The scalability issues of the blockchain project is another thing that affects its value. Nevertheless, the community is hoping on certain developments to boost the value of the coin and create enough traction for the bulls to take over.
LedgerX Digital Currency Product Line to Include Ethereum (ETH) Options
According to reports, LedgerX – an institutional Bitcoin (BTC) derivatives platform – is making plans to extend its digital currency product line to include the native digital currency of Ethereum – ETH. LedgerX is based in the United States, and it is the first digital currency trading platform that the CFTC (Commodity Futures Trading Commission) gave the go-ahead to list Bitcoin (BTC) derivatives.
According to reports by The Block, LedgerX has created a product line of Ethereum (ETH) options, and the firm is set to launch once regulators give it the go-ahead. Reports also have it that the new product line might rollout after a CFTC meeting on the 5th of October, although the firm has not publicly confirmed this yet.
The rollout of this product will enable traders short the value of Ethereum (ETH), resulting in what is known as a two-sided market for Ethereum (ETH). Digital currency miners and expert investors will also be able to use “options tradings” to minimize risk associated with volatility in price and hedge profits.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, Ethereum (ETH) is changing hands at $212 after a decrease of about 2 percent over the past twenty-four hours. The current market cap of the digital currency is $21.72 billion and its trading volume over the past twenty-four hours is $1.98 billion.