Ether (ETH) price has gained 88% since November, astonishing even the most bullish investors as the top altcoin secured a 2020 high at $750. Aside from the upcoming CME ETH futures launch scheduled for Feb. 8, the phenomenal growth of the total value locked in decentralized finance protocols also played a major part. As the above data indicates, investors are even more confident that Eth2 has been a success, despite the real potential of delays and implementation hurdles. Another possible bullish factor in the background is the recent two-year low in ETH miner balances. This certainly eases potential selling pressure …

The Chicago Mercantile Exchange, or CME, recently announced plans to add Ethereum (ETH) futures to its offering — three years after launching Bitcoin (BTC) futures. Market development has impacted the exchange's decision to branch out. “Since we launched the CME CF Ether-Dollar Reference Rate and Real-Time Index in 2018, there has been significant growth in ether transactions, and increased client demand for tools to manage price risk,” a CME representative told Cointelegraph. Similar to CME’s Bitcoin Reference Rate, the CF Ether-Dollar Reference Rate and Real-Time Index essentially show ETH’s going market price. “As with any new product or service, we …

CME Group has become the world’s largest Bitcoin (BTC) futures market following a surge in open interest over the past month, industry data shows. In a Friday tweet, Arcane Research announced that CME had overtaken OKEx as the world’s largest Bitcoin futures market. Citing data from Skew, a market intelligence firm, Arcane said open interest in CME’s Bitcoin futures contract has reached $1.16 billion. OKEx, meanwhile, registered $1.07 billion. “Institutional investors are here,” Arcane said. CME’s Bitcoin futures market has more than doubled over the past month, with more traders seeking exposure to the flagship cryptocurrency as it surged to …

Proposed regulations targeting Hong Kong’s blockchain industry could have far-reaching consequences for the crypto derivatives market, according to new research from Messari.io. In a report published on Wednesday, researcher Mira Christanto said the Special Administrative Region of Hong Kong, which happens to be the dominant market for crypto futures trading, could be clamping down on unregulated exchanges as part of a broader push for more governance. The researcher cited a recent proposal from the Hong Kong Securities and Futures Commission, or SFC, that would require all crypto businesses to fall under anti-money laundering rules. This is a significant departure from …

Bitcoin (BTC) resurgence is continuing to sap capital from the altcoin markets as other cryptocurrencies are struggling to catch up to BTC. DeFi struggles as Bitcoin shines The DeFi Composite Index, first launched by Binance Futures in late August, is seeing its second month of strain, trading down from its all-time highs of close to $1,200 to under $400, a decline of roughly 60%. In fact, most DeFi tokens have erased 70% to 90% of their gains since early September, as Binance’s Nov. 5 report notes. In early October, Cointelegraph reported on the index’s already stark decline to $507. Its …

As votes came in on the night of Nov. 3, the day of the U.S. presidential election, Bitcoin's (BTC) volume soared on the Chicago Mercantile Exchange, or CME. "Overnight, before 9:00am NYT over 6,700 Bitcoin futures contracts traded (33,500 equivalent Bitcoin), 75% more than what has been observed YTD [year-to-date] and more than double the volume observed since launch," a CME Group spokesperson told Cointelegraph on Wednesday. 6,700 BTC CME Bitcoin futures contracts traded between 5 PM CST on Nov. 3 and 8 AM CST on Nov. 4. CME Bitcoin futures trade 23 hours per day, between 5 pm and …

On Nov. 4, crypto data market aggregator CryptoQuant published a chart indicating Binance’s Estimated Leverage Ratio (open interest divided by Bitcoin (BTC) reserves) has pushed into new all-time highs. The record was set on Nov. 3 after a spike in open interest pushed Binance’s ELR above 0.18 for the first time. The spike in ELR came shortly before Bitcoin established a double-bottom at roughly $13,400. New data suggests Bitcoin’s bullish push into 2020 highs above $14,000 may have been fueled by leverage, which could mean markets will continue to see significant volatility in the short term. However, Binance also recorded …

Per guidance released Wednesday evening, the Commodity Futures Trading Commission (CFTC) is advising businesses trading in crypto derivatives to hold customer funds very carefully. The new guidance continues the CFTC's interest in carving out rules for custodianship of virtual currencies — an area obviously distinct from any other asset class. Per the commission: "Custodians of virtual currencies are typically not subject to a system of comprehensive federal or state regulation and oversight, which includes safeguarding of these novel assets, and this raises potential risks to the protection of customer funds held at such custodians." The specific provisions of the guidance …

On Oct. 12 Bitcoin price (BTC) pushed above $11,700 on Binance and data shows trading at derivatives exchanges also began to spike. According to data from Skew, CME Bitcoin futures open interest has started to recover. The term open interest refers to the total amount of long and short contracts open at a given time and it is typically used to gauge trading activity in the futures market. CME Bitcoin futures volume. Source: Skew The daily volume across other institution-focused platforms, including LMAX Digital and Bakkt, also remains high. This suggests that institutional volume is growing in general after BTC’s …

Wootrade, a Taiwan-based liquidity provider platform and crypto asset exchange aimed at institutions, has concluded a $10 million private investment round led by Dragonfly Capital. Investors in the round include crypto notables including Haskey Capital, Three Arrows Capital, and DeFi Capital's venture wing. The newly raised funds will be used to expand the Wootrade team, and to support the launch of future products. The platform is currently in closed beta, where roughly one dozen institutions and early investors are already driving seven-figure spot volumes for crypto assets on behalf of their 65,000 clients. Wootrade expects to fully launch within six …

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On Sept. 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Despite being touted as the likely catalyst for an institutional-led bull market, Bakkt’s Bitcoin derivatives failed to meet the expected impact, seeing sustained …

Today’s Ether (ETH) 10% dump caused its annualized futures basis to adjust after flirting with extremely optimistic territory. The basis indicator compares futures contracts price to the current level at regular spot exchanges. Healthy markets usually display a 5% to 15% annualized basis, in a situation known as contango. On the other hand, a negative basis (futures premium) usually occurs during heavily bearish markets. ETH 1-month futures annualized basis. Source: Skew The above chart shows an annualized basis on Ether futures climbing above 20% yesterday, which is usually unsustainable. The same movement happened on August 13 as Ether broke the …