Crypto Facilities Launches Litecoin-Like Product in Futures Contracts
This announcement happened on Wednesday, stating that the service will be available on June 22nd (Friday). The participants in the program will have a chance to long or short futures contracts, which will be supported by Litecoin. Investors should see their investment mature over weekly, monthly, and quarterly reports.
The CEO of Crypto Facilities, Timo Schlaefer, issued a statement on this matter:
“We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets.”
Charlie Lee, who created the Litecoin, noted in this announcement that the new product would help people to transact with Litecoin as a whole. It is Lee’s hope that this attention will create additional investors in the token, causing a rise in value with other crypto tokens.
This change to Crypto Facilities comes just a month after they’ve established futures contracts with the use of Ethereum, along with other derivative products. Some of the most common tokens on the platform are Bitcoin and XRP.
We've settled our ETH/USD futures contracts expiring June 15, 2018 16:00 London time:
ETHUSD: 492.13 USD
and our XBT/USD, XRP/USD and XRP/XBT futures expiring June 15, 2018 17:00 London time:
— Crypto Facilities (@CryptoFLtd) June 15, 2018
In the next quarter, Crypto Facilities is planning to reach $150 million in their Ethereum futures contracts, which is about 10% of the platform’s total revenue.