Crypto Facilities, is a UK-based cryptocurrency exchange which offers crypto futures. Recently, it has started offering Bitcoin Cash futures as well.
According to the company, Bitcoin Cash futures will be available from 4 PM. It is regulated by the UK financial conduct authority.
Currently, the futures which are provided include Bitcoin, XRP, Ethereum, and Litecoin. This is a significant move for the Bitcoin Cash investors. If indeed, more and more exchanges offer Bitcoin Cash for direct trading or through futures; the credibility of Bitcoin Cash will increase significantly.
According to the CEO of the exchange, Timo Schlaefer, Bitcoin Cash is among the top 5 most valued cryptocurrencies. That is why they are planning to add Bitcoin cash to their futures offering. Also, the CEO further added that they believe that Bitcoin Cash will be hugely successful in the futures market. Under normal trading, they have been seeing volumes of over $ 180 million in 24 hours. This clearly indicates that among the investors as well as traders, Bitcoin Cash is pretty popular as well.
He was quick to add that across the platform, they have had volumes increasing year on year since 2015. This is a clear indication that the number of traders who are trading in cryptocurrencies is also increasing significantly. The effect of on-the-spot prices of Bitcoin cash remains to be seen after the futures have been launched. Initially, when the Bitcoin futures had been launched, Bitcoin started falling. However, Bitcoin Cash seems to be at the bottom right now. That is why it remains to be seen whether it results in increased prices or whether Bitcoin Cash falls even further.
With new trading opportunities available in the cryptocurrency space, the number of traders who are trading in cryptocurrencies is bound to go up. Also, globally recognized platforms are opening up cryptocurrency trading facilities as well which is another advantage. This is one of the main reasons why more people are actually looking to trade in cryptocurrencies.
Since the Bitcoin Cash futures will be added pretty soon, it remains to be seen whether the volumes which are procured by the company in the futures market are retained or not. As many different exchanges will support Bitcoin Cash trades, the volumes have certainly been increasing over the last few months. Bitcoin is just one year old but it has been able to garner a lot of media as well as trader attention.