Developments around the Ethereum project like the upcoming Ethereum futures on CME, the growing interest of institutions like Grayscale or the growth of the DeFi sector, are largely driven by DApps. based on Ethereum, will cause the price of ETH to skyrocket to at least $ 10.000.
This is a prediction from crypto analyst Lark Davis, who has said that these developments along with other developments such as the Office of the Monetary Authority (OCC) approval of stablecoins will certainly exponentially increases the value of ETH.
CME will launch ETH futures in early February
Less than a month ago, the Chicago Mercantile Exchange (CME) announced that it would launch futures on Ethereum (ETH), starting February 8, 2.
CME is one of the world's leading, diverse and regulated derivatives markets. It was also the first Bitcoin futures market in December 12 together with the Chicago Options Exchange (CBOE).
Each ETH futures will have 50 ETH units and products will be open for trading from Sunday to Friday, from 5:00 pm to 4:00 pm (CT time).
Contracts will also be based on CME CF, the FCA-approved ether-dollar reference rate from CF Benchmarks.
Ether is based on blockchain technology and the CME CF Ether-Dollar reference rate provides a standardized reference rate to give confidence in any trading strategy.
According to CME, the decision to launch ETH futures stems from the huge success of Bitcoin futures. Futures are well known on the traditional derivatives market but are a relatively new concept in the crypto market. They allow traders to long-short an asset at a predetermined price on a future date.
When the contract expires, the transaction will be executed automatically regardless of the asset's current market price. They can be done through an exchange or a smart contract.
The success of ETH depends on ETH 2.0
As reported earlier, 2% of the total ETH supply is currently staked in ETH 2.0. Data from BeaconScan shows that the number of Beacon Chain validators has increased by 62% from 27.507 during launch to 72.294 validators.
While investors seem optimistic about the value of ETH, the world's second-largest cryptocurrency is still in the midst of a giant technological transition where success will create the future. Everything will be very different if it fails.