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Cryptoknowmics 2022-08-26 07:40:38

Coinbase Derivatives Exchange to Add Nano Ether Futures Contract

Cryptocurrency exchange Coinbase Global will launch so-called nano ether (ETH-USD) futures contracts on August 29 on its derivatives platform to draw in more retail traders. The action is the response to the company’s derivatives exchange, formerly FairX, which launched nano Bitcoin (BTC-USD) futures at the end of June. It claimed that compared to conventional futures products, these contracts, of which 2.9 million gets exchanged as of August 29, require less initial money. Boris Ilyevsky, head of Coinbase’s derivatives exchange, said in a blog post. “At 1/100th of Bitcoin, our nano bitcoin futures contract requires less upfront capital, allowing participants to easily go long or short the price of bitcoin and manage risk in volatile markets,” Coinbase Adds Nano Ether Futures Contract Coinbase added nano Ether (ETH) futures after two months and started providing nano Bitcoin (BTC) futures to its retail customers. Coinbase’s action also comes ahead of the Ethereum Merge as traders attempt to place wagers and manage risk surrounding the event, in addition to broadening its retail derivative trading products. The Chicago Mercantile Exchange (CME), a derivatives market, recently declared its intention to start providing options for ether futures on September 12. The introduction of an ETH futures contract comes at a time when traders have been actively speculating on the value of the cryptocurrency as it gets closer to a crucial u...

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