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LedgerX Bitcoin Derivatives Trades ......Explode Past $1 Mln Following Soft Launch

There are clear indications that the bitcoin phenomenon is not getting away soon, as investment firms show high interest in bitcoin derivative investment.  

The reason for this is obvious, investment companies who are not permitted to invest in bitcoin directly can invest in bitcoin derivatives and avail their investors the benefit of the booming cryptocurrency market.

The success of LedgerX in just one week is a clear indication of this and the fact that more bitcoin derivatives is on the way as the demand for ways to trade Bitcoin beyond simply buying and selling has become crystal clear by the trading spike on the LedgerX platform this past week.

 In July, LedgerX received full approval from the US Commodity Futures Trading Commission to become a derivatives clearing organization (DCO). While the initial announcement was met with little fanfare, the impact on investors will be massive.

 The company announced via their blog this week that the platform has gone live with a ‘soft launch.’ The company on boarded several institutions and opened doors for trading. The response was huge, with over $1 mln being trading in the first week alone. According to the company:

 “…we ended up completing swaps and options trades worth over $1,000,000 USD. Crucially, these trades were cleared through LedgerX, which is the only institutional grade, US federally regulated exchange and clearinghouse for digital currencies. And we are literally just getting started.”

 The explosion in trading simply shows the massive level of demand that is underpinning the market at this time. Coupled with the recent price spike and stability over $6,000, these signs indicate a strong bull market for the near term.

FIRE:  The bitcoin new price level is not without a price. A look at the price of altcoins in the last few weeks and now, show a huge price/value loss because these coins are tied to bitcoin.

So, while the new price of $6,000 is good business for bitcoin derivatives, it is a sure bad news for investors holding other cryptocurrencies. The real bad news is that many of such altcoins may never recover the huge value lost if the bitcoin spike continues.

Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, hold no offence, no bitterness - the Lord is near you to help you!

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