Crypto Facilities, an English company specializing in the exchange of cryptocurrencies plans in the near future the launch of futures on the Litecoin (LTC)
A derivative of Litecoin on Crypto Facilities
With the launch of the LTC digital currency derivative, investors will be able to trade in the short and long term. Futures contracts will be denominated in US dollars with weekly, monthly and quarterly maturities.
In addition, unlike Bitcoin futures (BTC), those of Litecoin will benefit from an underlying guarantee. The crypto-stock exchange has decided to offer this new service in response to the “strong customer demand” underlines Timo Schlaefer, the CEO. He stated :
“We believe that our LTC-dollar futures will increase price transparency, liquidity and efficiency on crypto markets. “
Charlie Lee, the creator of Litecoin, also commented on this approach.
“The Litecoin futures will open up trading to more institutional investors, which would increase the liquidity of the virtual currency and make Litecoin’s movements easier,” he explained.
The launch of the Litecoin derivatives follows those of the Ethereum, launched last month by the cryptocurrency trading platform. Several futures products have also emerged and are traded on Crypto Facilities to name only that of Bitcoin ( BTC ) and Ripple ( XRP ).
The hype of controversies over digital currency futures shook the crypto-community this month. Fundstrat analyst Tom Lee blames Bitcoin prices and “high volatility” for CBOE futures.
However, some reports suggest that the CFTC (Commodity Futures Trading Commission) studied the main US cryptocurrency exchanges as part of an investigation into possible price manipulation in BTC futures markets.
In any case, ambitions surround the Ethereum network because Crypto Facilities told CoinDesk that it expects that the volume of the second cryptocurrency, Ethereum, futures contracts reaches the threshold of 150 million dollars – or 10% of the total volume of the platform – this quarter.
What do you think of the launch of Litecoin futures on Crypto Facilities? Do you think the price of the BTC was manipulated when CBOE started the Bitcoin futures? Let us know in the comments section below.