The U.S. Commodity Futures Trading Commission (CFTC) has licensed Bitnomial Exchange to operate as a futures exchange. Now, the company can offer futures and options contracts in exchange for BTC.
Previously, CME, CBOE, Bakkt, ErisX, and LedgerX were licensed to work as a futures exchange (DCM). At the same time, the last bitcoin futures contract on the Chicago Options Exchange (CBOE) expired on June 19, 2019, after which trading in cryptocurrency derivatives was stopped.
The CFTC has now licensed to operate as a Bitnomial Exchange, which is likely to focus solely on physical delivery futures. It means that customers will receive BTC at the end of their contract rather than equivalent amounts in fiat currency.
The CFTC carried out a technical evaluation of the exchange’s operations before approving, by the order. Bitnomial said it was the “first and only startup exchange” to receive approval for the offer of both margin and physically delivered futures and options contracts in the United States.
“The license will allow Bitnomial to participate in a generation shift in the financial markets. First, the new generation is beginning to understand trading, technology and supply. Secondly, new innovative unregulated derivatives are thriving and their daily volumes exceed $45 billion,” the press release says.
Bitnomial hopes to find clients for “new growth areas” and claims that existing traditional firms have had difficulty reaching this audience. Bitnomial is now setting up user acceptance testing, which is due to begin on April 27, and has opened customer registration.
In a statement, Luke Hoersten, Bitnomial founder and CEO, said the company would start with quarterly futures, micro-futures and options. According to the SEC, Bitnomial raised $7.5 million from 12 investors last December.
Technical analysis of Bitcoin (BTC):
Over the past weekend, the price of bitcoin rose to the resistance level of $7,300. Then it fell to the support level of $6,770. Now, the price of bitcoin is $6,820. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $6,880, $7,100, $7,200, $7,450, $7,660, $8,000, $8,020, $8,140. The nearest support levels are $6,770, $6,400, $6,100, $6,000, $5,780, $5,450, $5,000.
Technical analysis of Ethereum (ETH):
Over the past weekend, the price of ethereum rose to the resistance level of $190. Then it fell to the support level of $166. Now, the price of ethereum is $170. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $174, $176, $183, $200. The nearest support levels are $169, $166, $157, $161, $155, $153, $150, $142.
Technical analysis of Ripple (XRP):
Over the past weekend, the price of ripple rose to the resistance level of $0.1970. Then it fell to the support level of $0.1770. Now, the price of ripple is $0.1830. In the future, we predict the continuation of the uptrend. The nearest resistance levels are $0.1850, $0.19, $0.1950, $0.2050, $0.21. The nearest support levels are $0.1820, $0.1770, $0.1750, $0.1680, $0.1570.
