Solana Price Rebounds such as CME Group debut Futures to meet ‘increasing customer demand’

CME Group will introduce Solana Futures On March 17, pending the approval of the regulations, the operator of derivatives markets exchanges announced On Friday.

American traders can buy and sell both micro-size contracts of 25 SOL and larger contracts of 500 Sol, CME Group said.

“With the launch of our new SOL -Futures contracts, we respond to increasing the customer’s demand to a wider set of regulated products to manage the risk of cryptocurrency price,” said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, in a statement.

If approved, these are the first time that settings can be exposed SOLThe sixth largest cryptocurrency per market capitalization. Despite most digital assets that fell on Friday, SOL traded at $ 144.71 by almost 6% for a period of 24 hours, Coingecko data shows.

In an e -mail commentary DecryptSui Chung, CEO of CF -Benchmarks, who will provide price data to CME Group on Sol, wrote that if the futures have been approved, a Sol ETF Could be the next one.

“A regulated futures market has been the primary condition of the SEC to properly approve a spotcypto ETF, because it gives the regulator the confidence that perpetrators of market manipulation can be identified, as a deterrent and therefore protective ETF investors,” Chung said.

A solution would provide investors to the digital currency through regulated shares that act on a stock market. Franklin TempletonGrayscale, Bitwise, Canary, 21Shares and Vaneck are all Looking for a sec greenlight For Solana -based funds.

These archives follow the dramatic success of funds based on the performance of Bitcoin and Ethereum, which started acting last year. Bitcoin funds now manage more than $ 90 million in assets.

CME Group is the world’s largest derivative marketplace, consisting of four fairs. Futures are a kind of contract with which an investor can buy or sell the underlying asset at a certain price at a predetermined expiration date.

Sol is the native coin of the Solana Smart Contracts Blockchain network. Developers use Solana to build decentralized apps and crypto products such as meme coins and decentralized fairs. Solana competes with Ethereum because it is fast and cheap.

The network has attracted the attention of traditional financing companies. Payments Giant Visa announced It would use the technology of the blockchain to speed up credit card payments. Solana’s payment protocol Solana Pay has integrated with the e-commerce platform Shopifyallowing sellers to accept Stablecoin USDC Via the blockchain.

Published by James Rubin