In October, the Traderce cryptocurrency exchange will launch margin trading of futures contracts for stablecoin Tether (USDT). This is reported by the publication The Block with reference to the words of the press Secretary of the exchange.
The press service said that the exact date of the launch of futures has not yet been determined. It is assumed that the new futures contracts will allow the exchange’s clients to open short and long positions on USDT using leverage. Traderce did not disclose information regarding the size of the shoulder and other product features.
Cryptocurrency derivatives are gaining popularity
Today, bitcoin futures trading was launched on the Bakkt platform. Initially, the opening of the auction was scheduled for December last year, but later the launch date was repeatedly postponed.
Many people compare the opening of trading on Bakkt with the launch of bitcoin futures in 2017, but there is an opposite opinion. For example, EXANTE analyst Viktor Argonov believes that Bakkt futures will not repeat the failure of 2017 — the platform presented not settlement, but delivery futures with real BTC receipts to buyers.
In addition, the launch of these futures contracts can shift the balance of power in the market towards buyers and strengthen the position of Bitcoin, because many influential players are now interested in this.
It is noteworthy that the launch of these products, apparently, did not affect the Bitcoin exchange rate in any way, which does not show major changes.
On Friday, another exchange announced the imminent launch of new cryptocurrency derivatives. We are talking about the Chicago stock exchange (CME), which announced its readiness to introduce options for bitcoin futures early next year.
CME managing Director Tim McCourt said that options are aimed at institutional traders. Their launch “will provide additional flexibility in trading and hedging Bitcoin price risks.”
Recall that CME is currently trading Bitcoin futures, which were launched in December 2017. After the Chicago Board options exchange (CBOE) announced that bole does not plan to open new futures contracts on its site, CME remained the only supplier of bitcoin futures in the United States until it had a competitor in the face of Bakkt.
The Binance cryptocurrency exchange has also joined the competition of cryptocurrency derivatives providers. In early September, it launched two platforms for trading cryptocurrency futures.
The first platform was called Binance Futures and was launched in test mode, the second was called Binance JEX — it was launched on the basis of the jex trading platform purchased by Binance.