Litecoin Futures launched by UK-based Crypto Facility has been a great success according to the company. After Bitcoin, Ripple, and Ethereum, the trading platform which also provides reference rate to the crypto futures of CME, has launched the first regulated LTCUSD futures.
Litecoin futures becomes a hit
Litecoin futures in itself has been a great development as after Bitcoin, Ripple, Ethereum, and the recent EOS futures, Litecoin is among these four cryptocurrencies that have futures contract.
Launched yesterday by Crypto Facilities, a cryptocurrency trading platform for professionals, the company announced that “LTCUSD futures launch has been a great success.”
The company announced in its Tweet that the first 12 hours of the trading, they registered an estimated $15 million volume. They further stated 100 percent use of Segwit wallet, using M-address for deposits and Bech32 validation.
Crypto Facility also thanked Litecoin Foundation and Litecoin’s founder Charlie Lee for their support during the process.
Litecoin futures joins the ranks of Bitcoin, Ripple & Ethereum
A few days back the London-based Crypto trading platform, Crypto facilities announced the launch of Litecoin-Dollar futures for June 22. These new derivatives that are “first regulated” Litecoin futures started trading yesterday.
Charlie Lee shared his views with:
“Litecoin futures will open up LTC trading to more institutional investors. This will add to the liquidity of Litecoin and make it easier for people to get in and out of Litecoin.”
These contracts basically enable the market participants to go long or short on the cryptocurrency that allows them to not only manage their risk efficiently but also to “express sentiments”.
The CEO of the company, Timo Schlaefer said:
“We are excited to be launching futures on Litecoin, one of the most widely traded cryptocurrencies. There has been strong client demand for this product and we believe our LTC-Dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets. As digital assets continue to mature, we expect to see a greater number of institutional investors entering the marketplace.”
According to its official announcement, the platform offers “clients real-time risk management capabilities, including the ability to take a directional view on a variety of cryptocurrencies and to hedge associated price risks.”
By adding Litecoin, now the total tally of crypto futures offered by Crypto Facilities is four including Bitcoin, Ethereum, and Ripple futures. Moreover, the firm also provides “CME Group, the world’s largest derivatives exchange, with the CME CF Bitcoin Reference Rate that powers CME Group’s Bitcoin futures, and the CME CF Ether-Dollar Reference Rate and Real-Time Index.”
What are your views on Litecoin Futures launch being a success? Would you go long or short on these futures? Share your thoughts with us!