Will the Launch of Ethereum Futures on The Brazilian Stock Exchange Help the Price Rise?
2022-05-17 17:45:05
Ethereum Down To $2,000, How Long Will Its Turnaround Take?
After the wildest week of movement in the cryptocurrency market, token prices are now down, including several so-called cryptocurrency stable coins such as Bitcoin, Ether, and TerraUST. Ethereum fell from a high of $3,148 in the last month to a recent low of $1,843 on May 12, a drop of 58.5%.
At the time of writing, ETH is trading at $2,059.56 on the Gate.io international cryptocurrency exchange, down 8.5% in the last 7 days and up 1.2% in the last hour. Ethereum's volume in 24 hours was $19,659,851,072. As you can see, Ethereum has fallen to $2,000 and is now in a bottleneck. It is difficult for the price to break through significantly.
After such a week of volatility, cryptocurrencies are having a pretty serious impact on the market. Some countries are starting to fight to give some attitude towards their market, etc. Portuguese Finance Minister Fernando Medina said in a hearing in the Republican Parliament on May 16 that he plans to tax cryptocurrencies. European Central Bank executive Panetta said cryptocurrencies are too risky to be used as a reliable means of payment and that public money in the digital age must remain a monetary anchor. Chopra, director of the U.S. Consumer Financial Protection Bureau, said cryptocurrency regulation could change by 2022.
Brazilian stock exchange B3 has confirmed its intention to launch its first official product for the cryptocurrency market Bitcoin and Ethereum futures trading within six months. Currently, institutional and retail investors can trade 11 ETFs that have cryptocurrency exposure through B3 in Brazil. In addition, B3 plans to launch other cryptocurrency and blockchain-based products in 2022, including research on platforms for asset pass-through, cryptocurrency trading, cryptocurrency custody, and more.
According to the statement, B3 only needs to address the question of whether to use the US dollar or the Brazilian real as the reference index. Futures contracts need a reference index, so if the team chooses Brazil's national currency, it would be necessary to form a crypto asset index in reals - an index that does not exist yet.
Will the launch of Brazilian Ethereum futures trading bring in more potential investors to buy Ethereum? This answer will be revealed to people soon. But what can be predicted is that the price of ETH might see some degree of the volatility after the launch of Ethereum futures. However, cryptocurrency is a risky investment, so please think carefully before you start investing.
After the wildest week of movement in the cryptocurrency market, token prices are now down, including several so-called cryptocurrency stable coins such as Bitcoin, Ether, and TerraUST. Ethereum fell from a high of $3,148 in the last month to a recent low of $1,843 on May 12, a drop of 58.5%.
At the time of writing, ETH is trading at $2,059.56 on the Gate.io international cryptocurrency exchange, down 8.5% in the last 7 days and up 1.2% in the last hour. Ethereum's volume in 24 hours was $19,659,851,072. As you can see, Ethereum has fallen to $2,000 and is now in a bottleneck. It is difficult for the price to break through significantly.
Some Countries' Current Attitudes Towards Cryptocurrencies
After such a week of volatility, cryptocurrencies are having a pretty serious impact on the market. Some countries are starting to fight to give some attitude towards their market, etc. Portuguese Finance Minister Fernando Medina said in a hearing in the Republican Parliament on May 16 that he plans to tax cryptocurrencies. European Central Bank executive Panetta said cryptocurrencies are too risky to be used as a reliable means of payment and that public money in the digital age must remain a monetary anchor. Chopra, director of the U.S. Consumer Financial Protection Bureau, said cryptocurrency regulation could change by 2022.
Brazilian Stock Exchange to Launch Ethereum Futures Soon
Brazilian stock exchange B3 has confirmed its intention to launch its first official product for the cryptocurrency market Bitcoin and Ethereum futures trading within six months. Currently, institutional and retail investors can trade 11 ETFs that have cryptocurrency exposure through B3 in Brazil. In addition, B3 plans to launch other cryptocurrency and blockchain-based products in 2022, including research on platforms for asset pass-through, cryptocurrency trading, cryptocurrency custody, and more.
According to the statement, B3 only needs to address the question of whether to use the US dollar or the Brazilian real as the reference index. Futures contracts need a reference index, so if the team chooses Brazil's national currency, it would be necessary to form a crypto asset index in reals - an index that does not exist yet.
Will the launch of Brazilian Ethereum futures trading bring in more potential investors to buy Ethereum? This answer will be revealed to people soon. But what can be predicted is that the price of ETH might see some degree of the volatility after the launch of Ethereum futures. However, cryptocurrency is a risky investment, so please think carefully before you start investing.
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