• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • 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
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • 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
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
futures
Nexo Logo

Bitcoin Futures Battle Heats Up With New Player, Will it Drive Crypto Market Recovery?

Martin Young by Martin Young
4 years ago
in Bitcoin, Cryptocurrency news, Derivatives
Reading Time: 2 mins read
Advertisement

A lot of hopes have been pinned on institutional heavyweights entering the crypto space in 2019. The promise of more Bitcoin futures and crypto products from the big players could be the catalyst that drives market recovery. A new exchange has entered the fray and it aims to take on the giants with physically delivered Bitcoin futures.

New Exchange Enters The Fray

The highly anticipated New York Stock Exchange owner’s contracts are about to be launched and Chicago’s Eris Exchange LLC will not be far behind. However, starting next month the firm that claims it was the first to market crypto futures has split from previous owners and will be launching derivatives for some of the top crypto assets to Asian investors.

According to Chicago Business CoinfloorEX, a division of UK crypto exchange Coinfloor, has been renamed to Coin Futures and Lending Exchange, or CoinFLEX. It aims to enter the highly competitive market and has solid backing from the UK’s oldest Bitcoin exchange which will also retain a stake in the new venture.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

A consortium of crypto diehards including Bitcoin Cash evangelist Roger Ver owns the new exchange which will be managed from Hong Kong by Coinfloor co-founder Mark Lamb. With a leverage of up to twenty times, CoinFLEX will be offering futures for Bitcoin, Ethereum and Bitcoin Cash. It is going up against BitMEX, also based in Hong Kong which has contracts leveraging up to 100 in some cases.

The difference with these futures is that they will be physically covered meaning that investors will be paid out in cryptocurrency rather than fiat upon contract expiry.

“Crypto derivatives could become an order of magnitude larger than spot markets and the main thing that’s holding back that growth is the lack of physical delivery. Volumes are reduced because of a problem of trust when it comes to cash-settled trades.” Lamb said.

CoinFLEX is taking a gamble itself by using Tether to trade against, but providing there are no further auditing issues for USDT, and it retains its peg to the dollar things should go smoothly. It will also issue a contract using USDC, the stablecoin from Circle and Coinbase.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“Tether is the most liquid, highest volume stable coin that exists right now and seeing the resolution of recent issues and attestations by banks and outside firms make us confident in using it as a stable coin,” Lamb added.

The move comes just as the Intercontinental Exchange Inc. readies its own futures as part of the Bakkt venture. Entering the market now when things are at the bottom paints a whole different future picture for crypto futures that had an entirely different outlook when they first came on to the scene in December 2017.

Image from Shutterstock
Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Tags: bakktbitcoinCoinFLEXcoinfloorfuturesICEtether
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

CryptoDickbutts

CryptoDickbutts NFTs Erect Nearly 700% In Daily Sales Volume 

1 hour ago
XLM price

XLM Depicts Buying Resurgence, Where’s It Headed Next?

3 hours ago
Crypto ATMs

Number Of Crypto ATMs Installed Worldwide Reaches New Milestone

5 hours ago
Bitcoin price

Why Bitcoin At $100K Is Just A “Matter Of Time”, Says Bloomberg Intelligence

6 hours ago
Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently

Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently

9 hours ago
Ethereum ETH ETHUSDT

Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says

10 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

The Main Reason Why GNOX (GNOX) Could Flip Dogecoin (DOGE) And Shiba Inu (SHIB) In 2023

August 8, 2022

The Next Bullish Wave in Crypto Could Generate Huge Profits for Uniglo (GLO), Fantom (FTM), and Optimism (OP)

August 8, 2022

The FishVerse Announces the First Ultimate Fishing Metaverse

August 8, 2022

Bware Labs announces the Blast Incentivized Testnet, code-named Houston

August 8, 2022

MEXC to List AURA Network, Supporting NFTs Adoption for More Possibilities

August 8, 2022

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.

COMPANY

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

Technical Analysis

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

LINKS

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • 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
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 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.