• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Bitcoin Price Retests $27K Following Fed Rate Decision
ethereum eth cme futures

Ethereum Debuts On CME To $55M In Futures Open Interest

Tony "The Bull" by Tony "The Bull"
2 years ago
in ETH
Reading Time: 3 mins read
Advertisement

Ethereum price is trading at just below $1,800 per token after following Bitcoin’s upward trajectory to new all-time highs. Part of the buzz and momentum was generated by the introduction of Ether Futures trading on the Chicago Mercantile Exchange, also known as CME Group.

During the altcoin’s debut week, Futures open interest reached a grand total of $55 million. Here’s how the second-ranked cryptocurrency’s first week trading on CME compares to Bitcoin’s, and what happened in the weeks to follow.

Ether Futures Debut On CME Group, Open Interest Rises To $55M In First Week

Unlike the launch of Bitcoin’s debut on CME Group’s Futures trading platform which was referred to as “tepid,” Ethereum’s introduction has already resulted in as much as $55 million during the first few days trading.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Related Reading | Ethereum Beats Bitcoin Performance Two Years Straight, What’s Next?

CME Group added Ether Futures on February 8 to give institutional traders exposure to more crypto assets than just Bitcoin. Ethereum as the second-largest cryptocurrency by market cap, was the next logical choice.

ethereum cme open interest

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Ether open interest shot up to $55 million in the first week trading | Source: Skew Analytics, via Arcane Research

Ethereum is also among the few crypto assets that has regulatory support thanks to its early distribution model ensuring sufficient decentralization.

Trading volume itself stayed relatively steady at around $35 million, but open interest continued to climb as the debut week continued, according to the most recent report from Arcane Research.

The Similarities Between Ethereum And Bitcoin At CME Launch

First week trading volume and open interest results show a positive correlation with the greater crypto market trend. However, after rising the first few days during trading, Ether prices have since turned down from the recent record set.

This wouldn’t otherwise be alarming, however, when Bitcoin was first introduced on CME for Futures trading on December 17, 2017, it was the exact top of the bull market.

Already this time is different with Ether prices still rising beyond the initial debut, and the greater bull trend isn’t anywhere near as exhausted as it was in late 2017.

ethusd btcusd ethereum bitcoin

The introduction of BTC Futures on CME marked the peak. Is this time different? | Source: ETHUSD on TradingView.com

By most measures, Bitcoin’s bull run is only just getting started, and with a strike price for Ether options contracts at $10,000 and above, it doesn’t look like a top is in for Ethereum at this point either.

Related Reading | Altcoin Market Cap On The Verge Of Life-Changing Breakout

Can Ethereum do what even Bitcoin couldn’t and overcome the sudden introduction of more short-sellers in the market? Or will this mark a temporary top for crypto now just like it did the last time around?

Featured image from Deposit Photos, Charts from TradingView.com
Tags: altcoinsbitcoincryptoDeFiETHethbtcethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony "The Bull"

Tony "The Bull"

Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check him out on Twitter or in his free TonyTradesBTC Telegram channel. Follow @TonyTheBull on Twitter and search CoinChartist on YouTube.

Related Posts

Ethereum Price

Ethereum Price Just Saw Key Technical Correction But Key Support Intact

2 hours ago
Ethereum

Ethereum Price Could Stage Strong Rally If It Closes Above This Resistance

1 day ago
Ethereum

Can Ethereum Fall Below $1,500? Here Are Factors That Could Drive It

2 days ago
Ethereum

Ethereum Price Grinds Lower and Turns At Risk of A Larger Decline

2 days ago
Ethereum Price

Ethereum Price Underperforms and Turns At Risk of Downside Break

3 days ago
Ethereum

Ethereum Price Seems Ready For Another Leg Higher Over $1,750

6 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

TMS Network (TMSN) Presale Success Stirs Markets While Experts Advise To Be Cautious With Conflux (CFX) And Ravencoin (RVN)

March 23, 2023

Solana (SOL) Price Prediction; TMS Network ICO (TMSN) And Avalanche (AVAX) Shines

March 23, 2023

Cryptocurrencies To Get Before April 2023 Ends: Conflux (CFX), yearn.finance (YFI) and TMS Network (TMSN)

March 23, 2023

ScalingX and Buidlbox Partner to Host “The Hunt for X” Zero-Knowledge Tech Hackathon

March 22, 2023

Why is Avorak AI Pumping? – a Guide To AI Cryptos, Fetch.ai, SingularityNET, And More

March 22, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.