Chicago Mercantile Exchange Group to launch Solana futures on March 17

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The Chicago Mercantile Exchange (CME) Group, a globally recognized derivatives exchange, announced it volition motorboat Solana (SOL) futures contracts connected March 17, pending a reappraisal by United States fiscal regulators.

According to the Feb. 28 announcement, marketplace participants volition person entree to micro contracts of 25 SOL oregon modular declaration sizes of 500 SOL, and each contracts volition beryllium cash-settled.

CME Group already provides futures and options contracts for Bitcoin (BTC) and Ether (ETH) to investors looking to hedge against the highly volatile quality of these integer assets.

The summation of Solana futures contracts gives accepted concern investors further vulnerability to the crypto markets and provides the crypto markets with caller superior injections that should enactment prices.

Derivatives, Financial Derivatives, CME, Solana

Solana’s terms responds to CME futures announcement

Following the announcement of futures products successful March, SOL’s terms surged by astir 17% from astir $125 to astir $146 connected Feb. 28.

Despite this, SOL has been connected a wide downtrend successful February, with prices dropping by astir 46% since the commencement of the period from astir $233 to contiguous levels.

SOL is presently trading good beneath its 200-day exponential moving mean (EMA), which is simply a dynamic and captious level of support.

The comparative spot scale (RSI) is astatine 33 and puts SOL connected the borderline of oversold territory — indicating a imaginable terms bottom.

Crypto markets request caller superior to resume rally

Liquidity is to fiscal markets what oxygen is to a diver, and the deficiency of caller superior injections has stalled the crypto rally that kicked disconnected pursuing the reelection of President Donald Trump successful the United States.

Typically, this liquidity drives the terms of Bitcoin, which, successful turn, flows into large-cap altcoins and past smaller-cap altcoins arsenic investors rotate their superior up the hazard curve.

According to Master Ventures laminitis Kyle Chassé, Bitcoin prices are collapsing due to the fact that hedge funds and organization investors looking to nett from the quality betwixt spot BTC prices and futures prices are being squeezed retired of that commercialized arsenic the terms quality narrows.

Bitcoin needs new, integrated buyers who judge successful the plus for the uptrend to resume, arsenic opposed to organization buyers chasing yield, Chassé added.

Unfortunately, this BTC correction may widen into April owed to macroeconomic factors, a caller probe study from Matrixport found.

Magazine: What Solana’s critics get right… and what they get wrong

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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