CME Group, also known as the Chicago Mercantile Exchange group, has recently revealed the idea of releasing a newly listed Bitcoin futures contract for its investors.
For Bitcoin traders and investors, this is a huge step in the right direction. Introducing this new Bitcoin futures contract will not only help in the increase in value of Bitcoin overall but also be beneficial for current Bitcoin holders as demand will increase, leading to more Bitcoin mining activities and transactions, boosting the whole ecosystem. As of now, people have responded to the announcement by CME in a very positive manner and are ready to embrace the upgrade, as it will provide crucial benefits for everyone who is engaged in the CME group and its functionality.
Being one of the world’s biggest financial exchanges, CME group looks to expand its capabilities in the Bitcoin trading sector. Tim McCourt of the CME group has stated that the derived by-product of this contract will approximately be minuscule compared to Bitcoin, but it will help traders and investors in getting into the Bitcoin trade scene with much easier hurdles to tackle. Adding to that, Tim also said that the Bitcoin Futures contract by CME would help complete the need for small contracts for investors and traders, providing them with the flexibility of choosing the right move in a very open and cost-effective way.
Also read:Talking about coincidence, CME’s announcement about the contract came right after PayPal announced its support for transactions using cryptocurrency, giving the top cryptocurrencies more ways to increase value. This is a very positive sign for the crypto space in general as more and more popular companies and organizations have started to adopt the cryptocurrency transaction method into their systems, resulting in an increase in both demand and value of crypto.
Bitcoin Bullish yet again
According to data from coinmarketcap, Bitcoin has yet again started to show a bullish trend, gaining value from a recent low of $50,000 to getting back on track in hopes of reaching and possibly beating its previous record of an all-time high value of $61,556.59. It is speculated that Bitcoin will reach a new all-time high of around $70,000. This is a fairly valid claim to make considering the enormous increase in the overall user base and opportunities.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.