CME Group Launches New Futures Contracts for Ripple’s XRP and SOL CoinsThe Chicago Mercantile Exchange (CME) has introduced a new 'Spot-Quoted' futures offering for the Ripple coin called XRP and the SOL coin to enable investors to trade their futures positions based on spot prices instead of the standard pricing method. CME_group_cryptocurrency.jpg
Key Features - Spot -Quoted Futures: These futures are primarily for traders and are quoted relative to the spot price of the underlying instrument.
- Smaller Contract Size: Offers higher accuracy and market accessibility for customers.
- Longer Expiry Date: This eliminates the need for frequent account roll-over.
Increasing Presence of CME Group in the Crypto Market-CME Group’s Existing Products: Currently, CME Group provides its clients with Bitcoin, Ethereum, XRP, and - High demand: More than 1.3 million contracts traded since the launch of Spot-Quoted Bitcoin and Ether futures in June. Impact on XRP and SOL PricesAlthough there is good news for the market, the price for XRP and SOL has not shown any signs of change and is still at $1.94 with a decline of 7.5% and $130 with more than 5.5% for SOL.
