-based crypto futures exchange is launching (LTC) derivatives contracts this Friday, according to a Coindesk Wednesday, June 20.
The new US dollar-denominated contracts will offer both long and short trading terms, with weekly, monthly and quarterly maturities. Notably, the contracts will have Litecoin as their underlying collateral, the already existing bitcoin (BTC) futures contracts on such exchanges as and .
Crypto Facilities CEO Timo Schlaefer has said that the trading platform made its decision in response to "strong client demand":
"We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets."
The launch of LTC futures comes just a month after Crypto Facilities began Ethereum (ETH) futures contracts to investors, alongside its existing crypto derivatives based on (XRP) and (BTC).
Earlier this month, Global Markets president Chris Concannon that (ETH) futures could soon be offered on its platform, after positive news from a senior U.S. Securities and Exchange Commission () official that Ethereum will not be regulated as a security under U.S. law.
Crypto futures contracts have attracted a great deal of this month, with Fundstrat’s bitcoin’s “gut-wrenching” price weakness and “significant volatility” to the timing of CBOE futures contract expirations.
A research released June 13 by academics at the University of Texas that transaction patterns indicate that US-dollar back cryptocurrency Tether () is being used “to provide price support and manipulate…prices,” artificially deflating the price of bitcoin to maximize short-term returns on futures contracts.
Yet further have surfaced this month suggesting that the U.S. Commodity Futures Trading Commission () has been probing major U.S. crypto exchanges as part of its own investigation into possible price manipulation on bitcoin futures markets.
Published at Wed, 20 Jun 2018 11:59:55 +0000
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