The Crypto Facilities, a top UK firm has set to launch Litecoin future on 22 June 2018. The decision came few weeks after the firm successful launched Ethereum future.

The new product is expected to be used against the US dollar according to a report. The CEO of the firm believes that this initiative will help to improve transparency in the cryptocurrency market. “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.”

The Litecoin and the US dollar option added has paved way for more other options to be added based on the investors demand. The website already has Ripple and Bitcoin derivative option. Charlie Lee, the founder of Litecoin expressed his thought on how the future listings of the cryptocurrency help its functions.

According to him, the listings make it easier for people to enter and leave the Litecoin Market. The firm has been reported to be having an expectation of at least $150 million Ethereum future contract trading volume “in this quarter”.

Ethereum, the second largest cryptocurrency in market capitalization was listed by Crypto facilities after investors showed a higher level of demand on the platform. The reference rate of the future contract of Ethereum has been said to be calculated using quotes from Bitstamp and Krakens.

Similarly, the future contract of Bitcoin is calculated using quotes from four exchange websites namely: itBit, GDAX, Bitstamp, and Krakens. Bitcoin, Ethereum, and Litecoin are very common in the use of the US dollar on most of the cryptocurrency exchange websites. More exchange platforms are expected to consider Litecoin futures.

Just like the Litecoin future, the Crypto Facilities CEO expects that the earlier introduction of the Ethereum future will attract more investors to the market. “The ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace,” said Timo Schlaefer.

The high expectant of Litecoin and Ethereum to perform has forced investors to buy more at this recession moment. This has therefore created many avenues for cryptocurrency firms to take advantage of it.

The Crypto Facilities firm is expected to introduce more future contracts in the future.

The post ICYMI: Crypto Facilities Set to Launch Litecoin Future appeared first on ZyCrypto.

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