ETH/USD: Ethereum-based futures with physical delivery are launched at the cryptocurrency exchange ErisX
- ErisX launches Ethereum =-based futures with physical delivery.
- ETH/USD is oscillating in sync with Bitcoin.
The trading platform for cryptocurrency derivatives, ErisX, launched the first Ether (ETH) futures contracts with physical delivery in the U.S. According to the official announcement, the contracts based on ETH-USD with monthly and quarterly expirations are made available for traders today.
Ethereum has genuine functionality and uses cases with real people, firms and governments using the network, and it’s structure has many similarities with existing commodity markets.
The platform launched Bitcoin futures in December 2019, though the product has not gained much popularity since that time, the Block reports. However, ETH-based derivatives products have not been available in the US before ErisX’s offerings due to the uncertainty about ETH legal status.
Notably, last week, ErisX obtained permission from the New York State Department of Financial Services (NYDFS) to work with New York customers.
Meanwhile, ETH/USD is changing hands at $188.50, off the intraday high of $193.67. The second-largest digital con is moving in sync with BTC, which means more volatility may be ahead as Bitcoin’s halving is upon us. The critical resistance is created by psychological $200.00, while the short-term support is seen at $185.00, which is the lower line of the 1-hour Bollinger Band.
ETH/USD 1-hour chart
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Author
Tanya Abrosimova
Independent Analyst
