Polkadot Tokens Valued at $75 Pre-Launch in Crypto ‘Futures’ Offering

Say hello to the IFO. The cryptocurrency futures exchange CoinFLEX, backed by Polychain Capital and investor Roger Ver, will launch its first initial futures offering (IFO) this week. “This is the first time we’ve made a futures market for a coin that doesn’t actually exist yet,” CoinFLEX CEO Mark Lamb told CoinDesk. “It’s a determiner of the price before the asset exists.” Notably, Polkadot’s DOT will be CoinFLEX’s flagship IFO. Stepping back, CoinFLEX launched in April with four futures contracts including bitcoin and ether. The platform then launched its own…

Binance Exchange to Launch Crypto Futures Trading with 20x Leverage

Binance, the world’s largest cryptocurrency exchange by trading volume, is soon to launch futures trading. During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng “CZ” Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets. “Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks,” he said. Referring to the screenshot of the interface showed on the…

US Cryptocurrency Exchange ErisX Receives License for Crypto Futures

Chicago-based crypto exchange ErisX has procured a derivatives clearing organization (DCO) license from the United States Commodity Futures Trading Commission (CFTC). According to an official blog post on July 1, ErisX is planning to make digital asset futures contracts available for trade on its regulated derivatives market later this year via its new DCO. ErisX also launched its spot market in April, with the promise of eventually rolling out a single digital asset platform for spot and futures trading.  At press time, the ErisX spot market exchange includes U.S. dollar…

CME Bitcoin Futures Record $1.7 Billion High in Notional Value

The Chicago Mercantile Exchange (CME) Group has announced more record-breaking highs for bitcoin (BTC) futures in an official Twitter post on June 28. The futures in question are standardized contracts that bind a party to buying or selling bitcoin at some set time after signing. According to the post, CME Bitcoin futures hit $1.7 billion in notional value traded on June 26, a 30% increase from its last recorded high. The open interest for BTC futures now sits at 6,069 contracts, reportedly as a result of institutional interest. New CME…

TD Ameritrade-Backed ErisX Gets Green Light to Settle Futures in Bitcoin

The U.S. Commodity Futures Trading Commission (CFTC) has cleared the way for crypto derivatives provider ErisX to offer futures contracts with a new license approval Monday. ErisX, which is backed by U.S. brokerage TD Ameritrade, announced that the CFTC granted it a derivatives clearing organization (DCO) license, acting as a secondary approval on top of an existing designated contract market (DCM) license that the exchange already held. The approvals mean the company can now launch crypto futures products under the auspices of the U.S. regulator. While no firm timeline was provided,…

CME Bitcoin Futures Briefly Broke $10,000 Amidst a New Open Interest All-Time High

Bitcoin (BTC) futures on the Chicago Mercantile Exchange’s (CME) briefly broke $10,000 on Friday, June 21, according to data from trading analytics platform TradingView. CME bitcoin futures 24-hour chart. Source: TradingView BTC futures reached a new high for 2019 of around $10,050, breaking $10,000 for the first time since early March 2018, when bitcoin was trading above $11,000 per coin. The new 2019 record has grown in line with the new highs of CME bitcoin futures total open interest (OI) that has reportedly reached around $273 million after CME reported…

Bitcoin Price Rally Stalls as Open Futures Hit Record Highs

View The bitcoin price rally seems to have stalled near $9,300 with the price-volume analysis suggesting scope for a minor pullback to $9,000-$8,700. Record open interest in bitcoin futures listed on the Chicago Mercantile Exchange indicates a surge in institutional interest. So, pullbacks, if any, will likely be short-lived. The long-term technical charts indicate scope for a rally to $10,000 and above. Bitcoin (BTC) is struggling to find acceptance above $9,300 even as futures listed on the Chicago Mercantile Exchange (CME) are witnessing record open bets. The top cryptocurrency by…

Open Interest in Bitcoin Futures Contracts Hit All-Time High

The Chicago Mercantile Exchange (CME) Group has released data showing that open interest in Bitcoin futures is rising, as per an official Twitter post on June 18. Interest in BTC futures over time: https://twitter.com/CMEGroup/status/1141015074062110721 According to CME, bitcoin (BTC) open interest spiked on June 17 with an all-time high of 5,311 contracts totalling 26,555 BTC, or approximately $246 million at press time. Futures are standardized contracts that bind a party to buying or selling some asset at a predetermined date. Notably, the CME group also remarked in the Twitter post…