Bitcoin Cash contract is being added by Crypto Facilities, a U.K-based crypto futures exchange and CME Group partner. The firm announced the launching of the contract on its platform on Friday. The U.K. Financial Conduct Authority regulated firm will start trading of the Bitcoin Cash future at 4 p.m. British Standard Time (BST), CoinDesk reported. The contract is to join the existing Bitcoin, Ethereum, XRP and Litecoin futures contracts of the company.
According to the company, the investors can take short or long positions on Bitcoin Cash. It is way to allow them to “to broaden investment opportunities and hedge risk more effectively”. CEO of Crypto Facilities told CoinDesk, “Bitcoin cash is a top-five cryptocurrency by market cap so it was a logical next step to add BCH to our BTC, ETH, XRP and LTC futures offering.”
Customers have shown interest in its other crypto futures and, therefore, Schlaefer predicted that this would also turn out to be popular. “We have seen volumes as high as $180 million in a 24-hour period and have average daily volumes ranging from $20–60 million notional per day. We expect BCH to be as successful as our BTC, XRP, ETH and LTC futures that all trade in significant volume,” Schlaefer explained. “Since 2015 we have seen a steady increase in volume in the cryptocurrency derivatives space, with the past year seeing the highest growth so far.”
In other news, , DISH, an American satellite TV provider has expanded its form of cryptocurrency payments. The company announced that it will start accepting Bitcoin Cash (BCH) as one of its payment options. Prior to Bitcoin Cash, the company had included Bitcoin (BTC) as a payment option in 2014. It started accepting payments in cryptocurrencies in order to increase the number of payment options for its customers and to make payments more convenient.
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