Ethereum is reclaiming lost ground as investors turn bullish over the prospect of derivatives hitting the market and major network changes.
Ethereum Could Soon Join Bitcoin Futures
Starting the week with the second-best 24-hour growth in the top twenty cryptocurrencies, Ethereum now trades above $300.
The last few days have revealed hints that big finance could soon begin pouring resources into the largest altcoin, specifically in the form of futures contracts already available for Bitcoin 00.
CME Group, one of the first Bitcoin futures operators, confirmed it would alter its reference rate for ETH, a move sources subsequently considered preparation for a futures rollout.
“I think this is prep for an Ether future,” an anonymous source told cryptocurrency news outlet The Block on July 5. “They have to improve the robustness of their index.”
The move could prove timely, coming after US regulator the Commodity Futures Trading Commission (CFTC) hinted it would be comfortable with such a product coming to market.