It has been quite a while we heard from the UK-based crypto facilities, after adding Ripple(xrp) to the list of its futures contract. So many people never expected Litecoin to be the next digital currency to be added to the list. Most people thought that bitcoin cash would be the next in line after Bitcoin, Ethereum and Ripple was launched.
However, the UK-based crypto facilities have gone contrary to what most people expected. According to them, it appears that Litecoin futures are of great interest to the crypto facilities. Surprisingly, this concept would bring more attention to one of the oldest alt coin in the market.
First of all, we saw how Bitcoin was added to the futures’ contract, eventually followed by Ethereum and Ripple. The addition of Litecoin to the list however, makes it the fourth futures’ product to be launched by crypto facilities in quick succession.
And for the product itself, it is the first time regulated dollar futures that have ever come to market. This new development is certainly a very important and interesting news that is definitely going to add to the value in price of the product sooner or later, but certainly because of the current situation of the market.
The crypto facilities CEO,Timo Schlaefer made this announcement in his words on a social media:
WE ARE EXCITED TO BE LAUNCHING FUTURES ON LITECOIN, ONE OF THE MOST WIDELY TRADED CRYPTOCURRENCIES. THERE HAS BEEN STRONG CLIENT DEMAND FOR THIS PRODUCT AND WE BELIEVE OUR LTC-DOLLAR FUTURES CONTRACTS WILL INCREASE PRICE TRANSPARENCY, LIQUIDITY AND EFFICIENCY IN THE CRYPTOCURRENCY MARKETS. AS DIGITAL ASSETS CONTINUE TO MATURE, WE EXPECT TO SEE A GREATER NUMBER OF INSTITUTIONAL INVESTORS ENTERING THE MARKETPLACE.
There are lot more of interesting news to come as most cryptocurrency projects are working tirelessly to see their product soar higher than others. So we should all keep an eye on this.