UK-based Crypto Derivatives Platform to Launch Litecoin (LTC) Futures Trading
According to an official announcement on Wednesday, UK-based cryptocurrency futures trading platform, will launch Litecoin (LTC) futures trading, customers will now be able to choose future contracts where Litecoin will work as a collateral.
The new investment instrument also allows traders to bet on both the short and long-term sale of the digital asset and will launch on Friday, June 22 at 4 p.m. BST.
Timo Schlaefer, Crypto Facilities CEO, said:
“We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets,” he said.
Litecoin founder Charlie Lee applauded the company’s effort to expand investment opportunities for LTC supporters. He also said that this would increase Litecoin’s liquidity and “facilitate people entering and leaving Litecoin.” Crypto Facilities offers a weekly, monthly and quarterly futures contract for all cryptocurrencies.
Crypto Facilities introduced Litecoin-based futures contracts just one month after receiving a similar instrument from Ethereum. The platform also offers other options derived from digital assets, including Bitcoin and Ripple.
This news appears to have little effect on Litecoin’s price as it has declined by 2.88% in the last 24 hours. LTC is currently worth $96.28 and its market cap is valued at $5 billion. However, it isn’t the only cryptocurrency experiencing a downturn.
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