Ethereum is Gradually Catching Up to Bitcoin

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Bitcoin Goes to Hollywood: “Crypto” Film Scheduled for 2019 Release
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China Publishes Second Monthly Cryptocurrency Index | Blockchain Technology
China Publishes Second Monthly Cryptocurrency Index
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The United States Securities and Exchange Commission has determined that the cryptocurrency known as Ethereum does not meet the definition of an investment security, thereby clearing the way for the Chicago Board Options Exchange as well as the Chicago Mercantile Exchange to develop ETH futures contracts.

As the second largest cryptocurrency in terms of market capitalization, Ethereum was trading around $500 on the day that the SEC made its final determination. Major digital currencies such as Bitcoin must fit the definition of a trading commodity before they can be approved for CBOE and CME contracts. While some advanced blockchain features could make ETH appear to be an investment security, the SEC has the final word on this issue.

ETH futures contracts have the potential of attracting greater investor attention to this cryptocurrency, which is considered by many to be superior to Bitcoin in terms of blockchain technology, and to increase its mainstream appeal. It should be noted, however, that the debut of futures contracts on Ethereum will likely result in an initial loss of value for this crypto coin; this was already experienced by Bitcoin in 2018, and it can be explained by the sudden rush of traders who take short positions on the market. At the same time, recent Bitcoin futures activity suggests that more commodities traders are starting to go long because they sense a rally happening later this year.

With regard to mining, analysts expect to see Ethereum switching to a software platform in an effort to avoid the controversial mining cartels and inequality that currently surround Bitcoin. On the subject of real-world application and circulation, the ETH blockchain has experienced greater acceptance, case in point: the central banks of Russia and Singapore have adopted the Ethereum distributed ledger to create digital versions of their national currencies.

Looking Forward to ETH Growth

Once Bitcoin starts getting closer to its mining limit, a milestone that could happen later this year, cryptocurrency investors may start looking for alternatives, and Ethereum is one of the most likely candidates. For the time being, ETH will continue to be closely tied to the volatility caused by Bitcoin’s wild market gyrations, and this can be expected of the top 15 cryptocurrencies in terms of market capitalization.

ETH could catch up to BTC faster if more circulation opportunities materialize this year, but prospective investors should expect volatility once this situation begins to unfold.
China Publishes Second Monthly Cryptocurrency Index
Bitcoin Goes to Hollywood: "Crypto" Film Scheduled for 2019 Release
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