CME Micro Ethereum Futures Contract Expands 100,000 Markets In First Two Weeks

A micro-Ethereum futures contract was launched by the Chicago Mercantile Exchange (CME) earlier this month to start slower compared to Bitcoin, which went public in May. Derivatives Major CME announced the Ethereum release on December 6, giving traders of all sizes the opportunity to hedge the risk of the underlying Ethereum blockchain token.

The exchange told CoinDesk in an email that it had traded 115,000 contracts for the new product in the two weeks leading up to December 17.

Tim McCourt, global director of Social Justice Indices and other CME Group products, said in a press release: Active adoption and support. , we highly recommend. The new, smaller contract is 1/500 the size of the larger Ethereum going forward, allowing traders of all sizes to run their Ethereum for the best and most profitable. the risk rate.

However, the response to MicroEthereum futures seems less promising compared to the performance of the MicroBitcoin futures listed on May 3. According to data provided by the exchange, the volume of these contracts was 224,151 in the first two weeks.

The size of the two small contracts is 1/10 of 1 BTC and 1 ETH, and the model contract is 5 BTC and 50 ETH, widely known as the representatives of the participating organizations.

However, given how slow the industry is now, the slowness of micro ETH in the future is not surprising. Additionally, the packaging industry typically declines before the end of the year and the New Year holidays. When the micro-Bitcoin contract was announced in May, market demand was being met while the price of Bitcoin was being met. was approximately $ 60,000.

The future of micro-Ethereum may be in the coming months as it will switch to Ethereum in the future (also known as ETH 2.0) and Ethereum's reputation is the product of a deflationary stage.

Messari analyst Mason Nystrom said in a research note published on December 7, "Ethereum's advertising revenue fell, to around 37K in November." "December was the first month Ethereum experienced deflation."

Previously, Ethereum implemented an EIP-1559 modification on August 5, introducing a combination that burned off some of the cost for miners.