Ethereum (ETH) arrived at record levels on Wednesday, climbing above $1,500, with traders buying the crypto ahead of the launch of Ethereum futures on the CME next week.
Ethereum has seen YTD profits of circa 120 percent, while BTC saw 30 percent, and Ethereum arrived at a new record level of USD 1,576.7 in early London trading on Wednesday.
The listing of its futures on such an exchange is another way to enhance the cryptocurrency marketplace – it lets inventors get acquainted with the silver to Bitcoin’s gold. It also allows hedging across the ETH exposures already in place.
What we may see, though, after this listing of ETH futures is a negative price dynamic. Why can this happen? This can happen if certain holders of physical ETH are allowed to hedge their exposures. Still, this fantastic launch of ETH futures may incur options on ETH futures in 2022, in a similar way as the launch of options on BTC futures in Q1 of last year.
Bitcoin may be ahead of the game, but other cryptos are also gaining popularity fast. All the talk about cryptos boosted their overall marketplace worth to more than one trillion this January!