Cryptoexchange Bybit Launches Ethereum Futures Trading

Cryptocurrency exchange Bybit announced the launch of a quarterly futures contract for Ethereum (ETH). Thusthe platform expands the ability to diversify traders' assets by the leading altcoin.

The instrument that received the ticker E ETHUSD0625 will beavailable on the web version of the Bybit derivative platform on May 20 at 13:00 Moscow time. In the mobile version, the release will take place somewhat later. The contract ETHUSD0924 will be added on May 24. ETH futures do not require a funding fee, therefore, during the contract period, traders will be able to hold their positions at no additional cost.

Simultaneously with the launch of ETHUSD0625 20 futuresMay, the previously announced Bybit cloud mining project will be launched. The mining-as-a-service (MaaS, "mining-as-a-service") product provides users with access to ETH mining for investments of $ 100 or more.

“As the price of bitcoin continues to stagnate, traders and investors are looking for alternatives,says Ben Jow, co-founder and CEO of Bybit.– We are launching a new futures contract for ETHjust when the growing retail and institutional demand trend is ushering in a new phase for altcoins. The ETH futures contract and Bybit cloud mining will timely complement the existing ETHUSD and ETHUSDT perpetual contracts in the exchange’s lineup. This will greatly enhance the options for our traders, whether they want to hedge their positions or further benefit from future ETH price movements.”

Ethereum, the second largest cryptocurrency bymarket capitalization over the past 12 months has grown 20 times. Increase in price four times than that of bitcoin over the same period. Ethereum gas fees have stabilized since the Berlin update on April 15th. And the upcoming revision of the EIP 1559 (London) levy market in July promises to further reduce gas prices and deflationary monetary policy.

About Bybit

Bybit platform was founded in March 2018 andis one of the most progressive and innovative cryptocurrency derivatives trading platforms. The platform has over 2 million users. The company provides online trading and mining services, as well as API support for retail and professional clients around the world.

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