The American financial and commodity derivatives exchange, Chicago Mercantile Exchange (CME), has started trading new Ethereum futures, which is sending the price of the cryptocurrency soaring to new all-time highs.
On February 8, CME Group announced the launch of new futures for ether, the second cryptocurrency The largest digital market. According to the Chicago-based futures and derivatives market publication, investors interested in expanding and diversifying their investment options will be able to do so through the futures of Ethereum (ETH), in a safe and guaranteed manner through one of the most diverse and regulated derivatives markets, a leader in the industry.
CME Group, the Chicago Mercantile Exchange, enables accredited investors to access new investment options in the market, such as cryptocurrencies and digital assets, helping participants manage the risks associated with this new asset class.
At press time, the price of ETH is hovering between $1.680 and $1.730 USD per unit. Also, on February 8, ETH marked a new all-time high in its price, with a total value of $1.770,9 USD So far. Analysts believe that the growing interest of traditional investors to enter the crypto derivatives market is driving the price of the asset in the markets. Open interest for Ethereum futures also found a new all-time high when its sum reached the level of $6.500 billion, according to data from the platform. Bybt.com.
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Benefits of the new ether futures
According to the CME Group statement, the new Ethereum futures, which are the second wave of cryptocurrency-based derivative products launched by the company after those seen in Bitcoin in 2017, will allow investors to enjoy broad exposure to the volatility and prices of ether, within a robust and efficient market.
Source: CME Group
As with Bitcoin, CME Group ensures management of investors' exposure to the risk of volatility and growth in the price of ether, while allowing them to operate within a regulated market that offers transparency and reliability to its participants. CME Group also ensures that ether settlements are carried out within the regulated market, through price data provided by the world's leading cryptocurrency exchanges.
Miners boost Ethereum hash rate
Ethereum miners in China are buying a large amount of GPU equipment from manufacturer NVIDIA. According to several local reports, miners are buying NVIDIA equipment in bulk as it can potentially generate a considerable amount of ETH. Analysts suggest that this reality may have an impact and help strengthen the hash rate of the network, which is becoming almost as secure as Bitcoin, the main and largest cryptocurrency in the markets. Weibo user shared on his blog a series of photos showing Nvidia GeForce RTX 30 laptops mining ether.
On the other hand, the data provider on the blockchain, How Many Confs, points out that the Ethereum network performs 237 confirmations in an estimated time of 1 hour, making its transactions as secure as those that occur on Bitcoin. This platform shows, in comparison to Bitcoin, that other blockchain networks take up to 1 full day, and much more, to confirm the number of transactions they require to make them irreversible and secure.
Continue reading: Ethereum updates DAG and disables miners with 4GB or less GPUs
