Home CryptoCurrency News Crypto Facilities launches Litecoin futures contracts

Crypto Facilities launches Litecoin futures contracts

One of the most successful financial speculative products in cryptography is that of futures contracts. It started with Bitcoin at the end of 2017 at the time of its higher prices, and shortly after it was offered at Ethereum, being Litecoin’s turn now.

Since the first Bitcoin futures contracts were launched in December 2017, more investment firms have joined in offering investment products. Such is the case of Crypto Facilities, a firm regulated by the FCA that offers futures contracts for Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) to its clients, who launched their derivative product of Litecoin.

Crypto Facilities, based in London, ventures into this Litecoin product (the sixth most capitalized cryptocurrency), seeking to remain at the forefront of its investment services for crypto-enthusiasts. The firm put this product into operation on June 22, 2018.

Crypto Facilities CEO Timo Schlaefer revealed to digital media that his firm decided to offer LTC-USD futures due to the growing demand from its customers for that product for Litecoin. Schlaefer also indicated that they believe that their LTC-Dollar futures will increase the transparency, liquidity and efficiency in the cryptocurrency markets, hand in hand with a growing wave of institutional investors operating in that market.

The appearance of these products for the altcoins in the market is not a negative thing, if it were not for the manipulative capacity in the value of the assets, intrinsically linked to this product.

Charlie Lee believes that this last investment product will help increase the value of Litecoin, because it believes that it will encourage more people to trade with this cryptocurrency.

Crypto Facilities has been doing things very well to position itself in the market by offering cryptographic products to satisfy the demand of its customers, managing to put into operation two products of this type, ethereum and litecoin futures contracts, all in less than 60 days.

But to mention that a start-up of a cryptographic product “increases” the price of a certain cryptocurrency by itself is at least a lightness. If that were true, bitcoin would have continued to rise since CBOE and CME launched their bitcoin futures, and it is obvious that there has been no impact on the price of bitcoin derived from that product.

However, this year there have already been incidents in the USA in which the Federal Reserve of San Francisco had issued a statement attributing the drop in the price of bitcoin to the emergence of futures contracts, and the Commodity Futures Trading Commission of the The United States (CFTC) initiated an investigation into the commercial activities of several cryptocurrency exchanges, on suspicion that they incurred manipulation of the bitcoin price through futures contracts.

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