The largest derivatives exchange in the United States finally launched its micro Ether product. The price of the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. rose slightly after the announcement.
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The Chicago Mercantile Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. (CME), one of the world’s largest derivatives exchanges, introduced the long-awaited microfinance futures, which are expected to be traded on theEthereum a decentralized open-source blockchain with smart contracts functionality. (ETH) este moons.
The market an area or arena, online or offline, in which commercial dealings are conducted. is already had announced in November plans to introduce the new ‘micro’ investment product based on the second-largest cryptocurrency by market capitalization. The new contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. for micro futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Ether the form of payment used in the operation of the distribution application platform, Ethereum. has a size of 0.1 ETH and is settled in cash.
As reported byDiarioBitcointhe product is based on la reference rate CME CF Ether-Dólar which is used as a daily reference rate for the price of that digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. in U.S. dollars. CME already offers a number of cryptocurrency derivative a financial instrument deriving its value from the value of an underlying asset. products, including the micro futures Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. which began to be negotiated in May .
The launch represents the second ‘micro’ cryptocurrency derivatives product to be introduced by CME this 2021.
With the launch of the new product, the exchange seeks to provide investors with an efficient means of hedging their exposure toEther. This was reported on Monday Tim McCourt, global head of equity equity is the funds that would be returned to a company's shareholders if all of the company's assets were dissolved and all debts were paid off in the event of liquidation. index and alternative investment products at CME Group in an email to CoinDesk .
The launch of micro Ether futures underscores the significant growth and liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. we have seen in our cryptocurrency futures and options.
The price of ETH experienced a drop this weekend that took it below the USD $4,000 mark. The decline came amid a general bearish movement who sawBitcoin dip a dip is when markets experience a short or protracted downturn. below USD $50,000. However, the price of Ether seems to recover slightly after the CME announcement. to trade at $4,171 at the time of publication.
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Article by Hannah Estefania Perez /DiarioBitcoin
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