Ethereum Price and Usage Disappoint Despite ETH Futures Rumors
CBOE could launch Ethereum (ETH) futures by the end of 2018 if US regulators approve its product, anonymous sources told Business Insider August 30.
CBOE, which launched pioneering Bitcoin futures in December last year, is currently waiting while the Commodity Futures Trading Commission (CFTC) to “get comfortable with the product before its official launch,” the publication reported citing “people familiar with the matter.”
The news comes amid a continued downturn in ETH’s fortunes, with Ethereum price 00 battling lows not seen for almost a year.
Should the rumored futures go ahead, they would use Gemini’s underlying market, the people continued, the setup mirroring CBOE’s Bitcoin setup, which also uses the Winklevoss twins’ platform.
Since their launch, Bitcoin futures from both CBOE and CME Group have faced both mixed success and a mixed reception as the 2018 bear market across cryptocurrency continues to take its toll.
CME has no plans to roll out ETH futures, Business Insider added referencing CEO Terry Duffy last month.
Duffy had told Bloomberg that he would “not just put products up there to see where they’re going to go,” and that CME “will take a wait and see approach with Bitcoin for now.”
Ethereum Markets Stay Flat
ETH price 00 is yet to react to the CBOE reports, continuing to trade below $300 while posting insignificant gains below 0.5 percent which match those of Bitcoin Friday.
The largest altcoin has faced scrutiny and a lack of confidence from multiple sources in recent months, Bitcoinist reporting last month on research which indicated the asset’s fortunes would not reverse in the short term.
Conversely, data from State of the DApps this week shows the most popular decentralized app on Ethereum currently has a daily active user base of around 2000 people. Previously, DApps had seen controversy of their own thanks to the overwhelming popularity of deliberate scam products.
What do you think about the possibility CBOE will launch Ethereum futures? Let us know in the comments below!
Images courtesy of Shutterstock, stateofthedapps.com