Bitcoin Options trading may see CME getting top spot in 2020
2020 has been looked upon as a year that will contribute to many significant price movements in the dormant crypto-market, especially in light of the fact that the Bitcoin halving is just over four months away. However, according to the crypto-markets data provider, Skew markets, the halving might not be significant, even when it comes to trading.
In a recent Twitter thread, Skew Markets listed out the “ten non-consensus developments for 2020,” with one of the tweets regarding trading in 2020. The tweet read,
“Bitcoin halving to be a trading “non-event”
This was followed by another forecast with respect to trading as Skew Markets predicted that Ethereum or ETH, will outperform BTC. If the BTC market is to be considered, the world’s largest cryptocurrency has managed to pull itself out of the bearish swamp and has been up by 12.27% since the beginning of the new year. The coin briefly touched the $8k mark and was valued at $7,892.20, at press time.
The data provider continued with a series of prophecies for the magical crypto-market by focusing on spot exchanges. Skew markets claimed that the London-based LMAX Digital will “become the clear leader for fiat-crypto trading,” while the US-based retail-focused Peak exchange will “pivot to brokerage-only model.”
Binance has long been considered the ‘world’s largest cryptocurrency exchange’ in terms of market cap, and it recently announced a strategic investment in the derivatives exchange, FTX. As per Skew markets, 2020 might see FTX/Binance grabbing the top spot in derivatives trading. It also hinted that one derivatives exchange will experience significant risk management issues. as various new products are launched at a time of record-low volatility.
Further, Skew markets predicted that the fate of stablecoins might be tested by a “soft-launch” of Facebook’s Libra, a project which was scheduled to launch in 2020, before the regulators sought Libra’s attention. On the other hand, Skew predicted that USDT, the largest stablecoin in the world, will see its market share recede.
As far as the financial market is concerned, Skew markets commented that a tier-one investment bank will launch a Bitcoin trading desk, while CME will get a top spot in BTC Options trading.