ETH futures are more popular than BTC, and regulators will not “kill” bitcoin, the expert believes
ETH futures are more popular than BTC with institutional investors
JPMorgan said that Ethereum futures are trading at a premium due to the flow of institutional funds from similar assets based on the main cryptocurrency. BTC futures after the September correction are trading below the spot price of the crypto coin.
Analysts say the whale’s attention to ethereum futures speaks to “healthy demand for ethereum compared to bitcoin from institutional investors.” These are large organizations such as corporations or hedge funds.
“This is a setback for Bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to Bitcoin,” JPMorgan analysts commented on the “strong demand divergence”.
Opinion: it is not profitable for regulators to “crush to death” the main crypto coin
The founder of Melanion Capital, Jad Comair, believes that it is simply not profitable for regulators to “crush to death” bitcoin. Thus, the entrepreneur expressed disagreement with the point of view of the head of Bridgewater Associates, Ray Dalio, who recently announced a potential threat to the first cryptocurrency.
“I think overall that is a very extreme scenario and I do not see a developed country like the US or even all the G7 countries take such a harsh and strong step,” the CIO of Melanion Capital said.
Comair said most governments want to regulate the digital asset industry in order to protect the interests of investors. And after the emergence of “adequate and correct regulation, we will see the full power of cryptocurrencies,” says the crypto enthusiast.
Twitter launches bitcoin transfers
On Twitter, you can now make transfers in BTC. The functionality, for now, is available to owners of devices based on IOS. However, the company promises to provide a similar opportunity for Android users in the near future.
The innovation will allow users of the social network to send donations in cryptocurrency to their favorite bloggers. They plan to carry out operations with bitcoins through the Lightning Network, with the help of which BTC payments will be faster and cheaper.
In order to take advantage of the new functionality, you will need to connect a third-party service to your Twitter profile, for example, Venmo from PayPal, Patreon or CashApp. At the same time, the company does not plan to introduce additional fees for transactions in digital currency.