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Litecoin Founder Charlie Lee Bullish on New Litecoin Futures

Published 6 months ago by Crypto Trade News Admin

Litecoin founder Charlie Lee is excited about the potential impact of Litecoin’s upcoming futures launch.

“Litecoin futures will open up LTC trading to more institutional investors,” says Lee. “This will add to the liquidity of Litecoin and make it easier for people to get in and out of Litecoin.”

London-based Crypto Facilities, a trading and index platform, will launch the first regulated Litecoin-Dollar futures on June 22, enabling market participants to go long or short Litecoin. Crypto Facilities will add the new derivative product to its growing list of crypto derivatives which currently includes Ethereum, Ripple and Bitcoin.

The firm provides CME Group, the world’s largest derivatives exchange, with the CME CF Bitcoin Reference Rate to power its Bitcoin futures, and the CME CF Ether-Dollar Reference Rate and Real Time Index.

According to the announcement, Crypto Facilities is responding to client demand and paving the way for big money. “As digital assets continue to mature, we expect to see a greater number of institutional investors entering the marketplace,” said CEO Timo Schlaefer.

The latest addition of Litecoin to the crypto derivatives market comes just two weeks after the Wall Street Journal reported that regulators are investigating how the first Bitcoin futures products from CME Group in December 2017 may have impacted the market, causing a surge in the price of Bitcoin to nearly $20,000. Bitcoin is currently trading around $6,751.

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