Cryptocurrency Derivatives Series: CoinFLEX Bags $10mln Funding Amid Mounting Cryptocurrency Derivatives Sentiments

Of late, Bitcoin derivatives trading has received myriad interests driven by the underlying constructive news following the spike in Bitcoin’s price.

Well, as per the twitter source, Bitcoin’s new volume persuaded the futures market, CME bitcoin futures observe massive growth of 63.5k contracts traded during last week. On the other hand, CBOE, ahead of bitcoin’s stern bull run, announced to halt its bitcoin futures. The underlying price of bitcoin futures has recently regained the momentum to hit back above $5.25k and signaling the upside momentum on the ascending price curve.

For now, a renowned cryptocurrency exchange, ‘CoinFlex’ has recently received $10 million from the VCs.

Elsewhere, the resurgence in the recent past has notably prompted futures contract at CME Group Inc showing emerging prospects. 

While the much-awaited budding venture of ICE is all set to go live. Well, its launch time for Bakkt’s physically deliverable bitcoin ETF futures is in September.

While, according to the SCMP report, CoinFlex, who also offers physically-deliverable BTC futures, has been funded from Bitcoin Cash (BCH) advocate and Bitcoin.com CEO Roger Ver, as well as Polychain Capital, NGC Ventures and Divergence Digital Currency. Polychain Capital and Digital Currency Group joined CoinFlex’s investment consortium back in March which is an exchange for crypto futures. CoinFlex is now reportedly intending to expand the business from Asian retail investors.

While disclosing this recent development, CoinFLEX stated that these new investors are an addition to their current investors, which are BItcoin Proponent Roger Ver, Dragonfly Capital Partners, and Trading Technologies.

CoinFlex explains that the world’s first crypto-exchange to offer a physical delivery for Bitcoin (BTC) futures contracts, as per SCMP. 

According to Coinflex CEO Mark Lamb, physical delivery of the contracts ensures that neither spot nor futures prices have been manipulated. He said:

“Professional and retail traders alike are affected by price manipulation in the cash-settled futures market. In the physical delivered contracts, anyone long at expiry receives the underlying bitcoin. There are no formulas involved.”

The CEO CoinFLEX, Mark Lamb, recently hinted that the avenue for stop trading of crypto assets is growing big time, and it may continue to surge exponentially in the years to come. He appended by stating, “the size of the crypto derivatives market will mushroom to 20 times the size of the underlying spot BTC market by the end of 2020, “I think crypto derivatives have been part of an evolution. This is where all the growth is.”