Is bitcoin too mainstream for you? Bitcoin futures, too? Well, in the United Kingdom, a cryptocurrency exchange will soon debut inverse Litecoin futures. Buckle up.
At 4:00 p.m. on June 22, 2018, inverse Litecoin futures[1] will begin trading on Crypto Facilities, a digital asset trading platform based in the United Kingdom. Denominated in US dollars, this financial product will allow traders to select long[2] or short[3] positions in the cryptocurrency.
At the time of writing, Litecoin is the sixth-largest cryptocurrency by market capitalization ($5.5 billion), according to CoinMarketCap[4]. There are approximately 57 million coins in the cryptocurrency's circulating supply and there's ostensibly a 24-hour global trading volume worth a little more than $257 million. Compared to its bitcoin cousin, which has a hard cap of approximately 21 million units, there's a significantly greater maximum supply of LTC (84 million units).
Date: June 20, 2018Source[5]
Glancing at the Litecoin markets, the LTC/BTC trading pair is the most popular, but the Tether[6] trading pair follows closely behind. OKEx[7] (a Hong Kong exchange) dominates the charts, with its LTC/BTC and LTC/USDT trading pairs accounting for 27.49 percent of the total Litecoin trading volume. In fact, GDAX is the only well-known, US-based exchange among the top 10 on the Litecoin charts.
The reference rate for inverse LTC futures is not immediately apparent, but according to the Crypto Facilities website[8], there will be three maturities available for trading: weekly, monthly, and quarterly. Unless there is a holiday, contracts will expire on Fridays (or for the longer contracts, the last Friday of the relevant month).
Incredibly, the exchange offers a maximum leverage of
