Bitcoin’s Q3 Hashrate Explodes on FTX Futures Exchange

FTX Exchange recently became the first exchange to offer futures on Bitcoin

Today, FTX Exchange launched hashrate futures. It functions much like any other futures marketplace and allows miners to hedge risk.

The futures are priced on an index 0 to 100. According to the announcement, the index is calculated as follows:

1) take each block that is mined during the quarter

2) Take the difficulty for that block

3) Average those difficulties together

4) Divide by 1 trillion

Currently, Bitcoin’s hashrate in May 2020 is 16 on the index. However, based on the first day of trading, speculators are clearly expecting this to rise in Q3 2020.

Currently, Bitcoin’s hashrate for next quarter is trading above 18. It opened on the market with significant gains and is up 6% or so on the daily. It remains to be seen whether this price point will hold, but it has remained steady since the initial run-up.

Although FTX exchange is the first to offer futures for Bitcoin’s hashrate, other exchanges may follow its lead. It has been in the works since at least August of last year, as per a blog post. Other exchanges may soon follow if the experiment is successful.


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This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.

Jenny
Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.

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