Photo by Didier Weemaels on Unsplash
I believe that people who started to contact blockchain technology or cryptocurrency earlier will remember that ICO(Initial Token Offering) was very popular. New ICO projects were coming out nearly every day at that time. The convenience of borderless transfer transactions and the speculation of cryptocurrency prices had prompted more and more people to invest in this market, and the overall market value of cryptocurrencies even surpassed JP Morgan, industry giant of US finance, in early December of 2017.
With the expansion of the cryptocurrency market, certainly, traditional financial institutions couldn't easily let this precious opportunity go, starting to launch different crypto related derivatives into the market since December 2017.
After CBOE Global Markets and CME Group successively launched Bitcoin futures contracts for investors, causing the price of BTC skyrocketed to around $20,000 USD.
It is undeniable that if there is a traditional financial derivative coming out, it will inevitably cause a large impact on the cash flow, triggering the reorganization of the overall cryptocurrency market, many people are still wondering whether the influence "crypto derivative wave" brings is positive or negative.
In addition to the traditional financial institutions, since Q3 of 2018, many crypto exchanges had paid more and more attention to the crypto derivatives, and the types are becoming more and more diversified, such as futures index, perpetual contract, ETF and ETP, etc. There are also exchanges that mainly trading crypto derivatives like BitMEX.
This may also explain why the amount of margin on the Bitmex platform that uses Bitcoin for trading could still increase month by month in such a bearish market. Even by the end of 2018, the amount of Bitcoin margin had accounted for 0.12% of Bitcoin's in total.
About Next Article
I will introduce the source and type of futures in detail. What is the difference between cryptocurrency futures and the impact of cryptocurrency derivatives on the market?
感謝你讀完此篇文章
THANKS FOR READING
持續追蹤我看看我在香港的生活以及各種有關區塊鏈的知識分享吧
Keep following me @alvin0617 for crypto-related news and my life in HK
Sponsored ( Powered by dclick )
Thanks being awesome NBC holder! Your 49.00 NBC earned you 6% team-cn upvotes！
Hi, @alvin0617!
You just got a 0.01% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
You got a 28.48% upvote from @ocdb courtesy of @alvin0617! :)
@ocdb is a non-profit bidbot for whitelisted Steemians, current max bid is 45 SBD and the equivalent amount in STEEM.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.
If you like what @ocd does, consider voting for ocd-witness through SteemConnect or on the Steemit Witnesses page. :)
Hi @alvin0617!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 2.491 which ranks you at #17489 across all Steem accounts.
Your rank has improved 316 places in the last three days (old rank 17805).
In our last Algorithmic Curation Round, consisting of 195 contributions, your post is ranked at #107.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Congratulations @alvin0617! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP