The Bitcoin futures made major headlines back last November, as it propelled BTC’s price higher just before their launch. The market had a sharp correction a few weeks later after the market hit record highs. Bitcoin breaking into Wall Street meant a wider adoption, aimed specifically at the cautious traditional investors.
Even though the market has been on a downward trend since the beginning of January due to various events and reasons, there could be a new futures market to take the crypto world by storm. Surprisingly enough, Ripple futures contracts have been active for nearly 18 months already. Crypto Facilities, a startup based in London, launched its first XRP derivatives in early October of 2016.
While the XRP futures have been hidden under mainstream media wraps, there were positive movements within the market paralleling the bitcoin futures launched on the CME and CBOE. Back in early and mid-December when the two futures markets opened the XRP futures were trading around $14.2 million in volume by the month. When the contracts expired in January, the Ripple futures nearly double in volume at $24.6 million.
How this has stayed mostly under wraps and hasn’t caught investor attention, is beyond me but Crypto Facilities CEO, Timo Schlaefer, sees that shift coming fast. He told CoinDesk that his volume has been growing in February and expects to hit record highs in March.
As you can see from the chart above, the trading volume has increased exponentially since the Bitcoin futures launch. As more and more individuals learn about these futures and that they’re even an option now, it’s volumes should continue to rise.
XRP remains strong as the third largest cryptocurrency by market cap but has passed Ethereum on numerous occasions January of 2018 being the last occurrence. At press time, CRP is trading at $0.710 a coin, up 3.08%, in 24 hours. For the month, XRP is down -37% but for the year, the coin is up nearly 12,000%.
Featured Image: Profit