Hey ninjas, how’s the trading going? The largest and most popular cryptocurrency Bitcoin has dipped once again. Yesterday, Bitcoin was initially trading around $10,271 before dipping almost $200, BTC is currently trading at $10,042 and is down 1.06% on the day.
Bitcoin market cap value is over $180 billion at press time. The majority of the top 20 cryptocurrencies are in the red zone (reporting losses), top altcoin Ethereum is trading at $216 and is down 0.2% on the day. The second-largest altcoin XRP is reporting 1.45% losses in the last 24 hours and is trading at 0.29% at press time.
On the 20th of September, Chicago Mercantile Exchange (CME) announced in a press release that the firm would be adding options to its Bitcoin Futures contracts. Pending on regulatory review the new options are set to be launched in the first quarter of 2020.
CME group Head of Equity Index and Alternative Investment Products Tim McCourt stated that due to the increasing client demand and growth of the CME Bitcoin futures market they believe that adding options would allow CME customers trade more flexibly and hedge their Bitcoin price risk.
He also added that the new products were made to help institutions and professional traders manage spot Bitcoin marketing as well as hedge Bitcoin futures.