British based Crypto Facilities, a futures exchange platform has announced that it will be listing Litecoin Futures as a trading option from tomorrow.
At present, Crypto Facilities is a regulated futures trading platform that gives users unhindered access to cryptocurrency trading, according to the Crypto Facilities website, users of the platform are able to trade long and short with ‘50x leverage’. They have access to trading 7 days a week, 52 weeks a year. They have access to fast and easy order submission, through a powerful API for algorithmic trading.
Moreover, Crypto Facilities are regulated by the UK’s Financial Conduct Authority.
See more from Crypto Facilities, here- https://www.cryptofacilities.com/
The new move, which will see Litecoin Futures added to the platform, plans to allow users to invest in both long and short futures that use Litecoin as an underlying form of value. Timo Schlaefer, the CEO of Crypto Facilities has commented on this move, stating that the move is inspired by:
“A strong client demand for Litecoin contracts.”
“We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets.”
This of course will no doubt inspire some new interest in Litecoin and Litecoin Futures. Crypto Facilities made a similar announcement a few months ago, through their listing of Ethereum Futures. As a result of this move, according to CoinDesk, Crypto Facilities are expecting Ethereum Futures trading volume to near $150 Million in this quarter alone. With this in mind, we could also expect to see similar figures crop up for Litecoin Futures trading volumes in the first three months of its availability within the system.
You can see more from CoinDesk for yourself, here-
According to the recent tweet by Crypto Facilities, sign ups for Litecoin Futures and LTC deposits are now live, with the full Litecoin Futures element going live at 15:00 UTC tomorrow, 22nd of June 2018.
You can see the full contract specifications to support this listing, here-
Overall, this is a promising bit of news, especially for Litecoin and indeed, Litecoin Futures in the UK. If the current Ethereum Futures trading volume is anything to go by, its pretty easy to see how both Litecoin and Crypto Facilities are going to benefit from this news.