CME’s Ethereum Futures Leading to a Boom in Ethereum

New Cash Settled contracts offering institutional investors exposure on a 50:1 ratio
  • The interest in Ethereum has been touching astronomical heights 
  • This has fuelled in a price rush leading to Ethereum prices touching $2,000
  • CME Group is gearing up to introduce Ether futures to the existing vast range of institutional traders

ETH Futures on CME Incoming

The interest in Ethereum has been touching astronomical heights as the world’s largest financial derivatives exchange (CME Group) is scheduled to launch ETH futures on 8th February. This news has led Ethereum rushing through an impressive bull rally, fuelled by mounting buy orders from institutional and retail investors.

Based on the Ether-Dollar reference rate, the new cash settled contracts will offer the investors a ratio of 50:1 in terms of exposure to the digital asset ratio. The derivative product will be open for trade during the week.

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Amidst the brewing news and a spike in volatility, Grayscale has reportedly purchased over $76m worth of ETH in anticipation of the upcoming launch. The trust now holds Ether which is approximately worth $4.60b. The significant spike in buying pressure appears to have impacted the prices of Ethereum which have now touched an all-time high.

Ethereum prices Beating Estimates

The below chart shows the rally Ether has been witnessing in the recent past. The uptrend touched $1,750 and is heading towards $2,000 which is a growth of 13%.

[Source: Ether Graphical Trend]

Various technical analysis indicates trading prices to settle at $1,560 – $1,630 demand barrier. Failing to do so may trigger a spike in selling pressure since more than 200,000 addresses will be forced to sell their holdings to avoid significant losses and perhaps ebb the prices of Ether at around $1,450.

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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