Main cryptocurrency bitcoin has been getting a lot of the headlines recently, but it surely is not the one one which has been rallying in 2020. Ethereum (ETH), the second largest cryptocurrency, has additionally carried out extraordinarily nicely.
The truth is, Ethereum has carried out even higher than bitcoin in 2020. Whereas bitcoin’s worth is up by about 195% in 2020 as of this writing, Ethereum is value 5 instances as a lot because it was firstly of the 12 months. A single Ethereum digital token is now value about $620, and the whole provide of Ethereum in existence is value greater than $70 billion. This makes Ethereum the clear second-largest cryptocurrency, as it’s greater than thrice the scale of the No. 3 token (Ripple).
Ethereum futures are formally coming quickly
Up till now, when you needed to wager on the long run worth of cryptocurrencies with spinoff securities, you may have been restricted to bitcoin. And since CBOE (NYSEMKT:CBOE) pulled the plug on its bitcoin futures merchandise a while in the past, there was just one place to purchase bitcoin futures, on CME Group (NASDAQ:CME).
Effectively, that is about to alter.
Whereas CME Group continues to be the one sport on the town for cryptocurrency futures (for now), the change simply introduced that it plans to record Ethereum futures in early 2021.
This is what we all know to this point. Ethereum futures are scheduled to start out buying and selling on Feb. 8, topic to approval from regulators. Every futures contract will characterize 50 ETH, which implies that every futures contract is tied to about $30,000 of the digital foreign money at present worth.