Cryptocurrency Exchanges: Futures Markets on Unreleased Tokens

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The Cosmos atoms have not still now officially reached a Cryptocurrency exchange and will continue to be in the same state unless the Cosmos network votes to approve their listing as a matter of fact that the atoms are not tradable anywhere. But unofficially one can purchase and sell the cosmos tokens on nearly half a dozen exchanges where the spot prices vary wildly. On the contrary, the Cryptocurrency derivatives are the place where the futures markets can be found for scores of unreleased tokens.

Monfex is one of the latest platforms that offer leveraged futures on the tokens of Telegram which is termed as ‘grams’. Being founded in 2018, the trading platform follows the footsteps of Xena in offering the leveraged Telegram futures. On Monfex, one can enjoy up to 50X leverage (in case of grams it is 1X) that has latched on to the significant interest in the Telegram Open Network (TON). The expectations are high for the widespread adoption of the gram tokens from the first day with 200 million users to tap into. The futures markets provide a number of benefits to the traders who are interested in speculating on the futures markets for the tokens like gram and Cosmos atoms:

  • High liquidity is provided by the futures contracts that results in low spreads and fast execution.
  • The leveraged futures need a smaller margin to enter into a trade.
  • The markets provide the option to sell short, giving the traders ability to go each way.
  • There remains no obligation to own the token to enter a trade.

Talking about the spot prices, Bitforex is quoting $20 per atom while for Gdac and Coinone it is $5.50. Other platforms that offer futures for a variety of as yet unlocked tokens include the Crypto.com, Bitmesh, Bitbox, Xena, Hotbit and Monfex.

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