Aside from the handful of people who fervently support the notion that Craig Wright is Satoshi Nakamoto, few in the cryptocurrency community sing the praises of Bitcoin SV.
Unfortunately, by and large, that doesn’t mean there’s a lot of opportunity for people to put their money where their mouths are.
Will Futures Rock Bitcoin SV?
Some markets offer multiple types of futures contracts, but Bitcoin SV also had the pleasure of being delisted by numerous exchanges after Craig Wright decided to sue beloved Bitcoin podcaster Peter McCormack earlier this year.
A former CFTC chieftain dropped the bombshell news earlier this month that elements of the Trump administration knowingly improved Bitcoin futures in order to pop the bubble that was growing at the end of 2017.
At the time, the Bitcoin price was crossing the $20,000 threshold, but quickly deflated down into the single thousands over the following months.
Futures can have multiple kinds of effects on markets. OKEx has announced that it will support futures for the following: BTC, BCH, BSV, ETH, EOS, TRX, and XRP. The exchange has previously had a different sort of crypto future product.
Futures: The 38th Parallel of Crypto?
All of these pairs will be against Tether (USDT). OKEx has said that it is considering other stablecoins for futures pairings. Tether is by far the most liquid, and most used, stablecoin in existence, with over 2 billion units issued, each once representing a dollar invested in the platform.
Tether Limited admitted earlier this year through a legal fiasco that it doesn’t actually have cash for every token issued, but may have a basket of assets that totals its payable figures.
If the Bitcoin SV prices happen to be all over the place in the coming months, it may be a result of renewed interest brought on by the OKEx futures market. It may also be the result of renewed interest in Craig Wright, who should be getting access to that “Tulip Trust” sometime during the next quarter or two.