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TagsHow does the Chicago Commodity Exchange impact the cryptocurrency market?
Manoj SrivastavaMar 20, 2022 · 3 years ago1 answersCan you explain how the Chicago Commodity Exchange (CME) influences the cryptocurrency market? What are the key factors that contribute to the impact?
1 answers
- As a leading commodity exchange, the Chicago Commodity Exchange (CME) has a significant impact on the cryptocurrency market. CME's introduction of Bitcoin futures contracts in December 2017 marked a turning point for the cryptocurrency industry. The availability of futures contracts allows investors to speculate on the price of Bitcoin without owning the underlying asset. This has attracted institutional investors who were previously hesitant to enter the cryptocurrency market due to regulatory concerns. The increased participation of institutional investors has brought additional liquidity and trading volume to the cryptocurrency market, influencing price movements and market sentiment. Therefore, the Chicago Commodity Exchange's involvement has had a profound impact on the cryptocurrency market by increasing liquidity, attracting institutional investors, and providing a regulated platform for trading.Mar 20, 2022 · 3 years ago
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