Ethereum Market Expansion: First ETH Futures Launched In The US
Ethereum was recently in the spotlight when Vitalik Buterin addressed the decentralized movement not too long ago.
In a debate on Twitter, he responded to a statement from the founder of CriptoNoticias, who said that the ETH-based decentralized movement is actually creating an ecosystem that’s filled of middlemen.
I really and truly think it’s the opposite. BTC people seem happy to have lots of centralized middlemen (bitmex, tether, liquid….) and it’s the ETH community that’s trying to decentralize these functions with smart contract constructions.
— vitalik.eth (@VitalikButerin) May 8, 2020
Ether futures contracts are available
Now, Ethereum enthusiasts are celebrating that physically-settled Ether (ETH) futures contracts are available.
Chicago-based Exchange ErisX launched the contracts a couple of days ago and this marks the first Ether futures contracts in the US.
ErisX is backed by important crypto investors such as Fidelity, Nasdaq, and TD Ameritrade among others and it confirmed that Ethereum managed to spawn a huge network that reached various levels and triggered a prosperous market, a lot of use cases and also a high demand for derivatives, as the online publication the Daily Hodl puts it.
Ethereum community is growing and use cases as well
“Since its launch in 2015, the Ethereum community has grown to include speculators, product developers, and organizations and enterprises that include governmental, nonprofit and for-profit entities,” according to official notes cited by the online publication the Daily Hodl.
The official notes continue and reveal that the “Use cases for Ethereum, and its native crypto asset Ether, currently run the gamut from potential financial and commercial applications, prediction markets, voting and identity systems, digitized physical assets, unique non-fungible digital assets, trading and exchange applications, payments and remittances, to data management platforms and beyond.”
In terms of pricing, ETH is currently trading in the green on CMC. At the moment of writing this article, ETH is priced at $190.27.
Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.