Bitcoin Cash Rallies 30% Following CME Futures Announcement

CME Group just triggered a 30% spike in Bitcoin Cash, but the last three coins to get the same futures announcement lost over a third of their value before trading even began. A surprise Grayscale filing may be the only…

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Bitcoin Cash (CRYPTO:BCH) surged as much as 30% to $348 from a previous close of $267. This jump followed CME Group’s announcement that it plans to list Bitcoin Cash futures. In comparison, three cryptocurrencies—Cardano (CRYPTO:ADA), Chainlink (CRYPTO:LINK), and Stellar (CRYPTO:XLM)—didn’t see such positive movement following their own futures announcements earlier this year.

BCH traded at $351, up 55.6% for the week but still 42.5% lower for the year. So what happened to Cardano, Chainlink, and Stellar after their futures listings, and what does this mean for Bitcoin Cash?

CME Plans to List Bitcoin Cash and Uniswap Futures on October 19

CME Group announced on September 22 that it intends to launch futures for both Bitcoin Cash and Uniswap (CRYPTO:UNI) on October 19, pending regulatory review. Each asset will have a standard contract and a smaller micro contract, with Bitcoin Cash contracts covering 250 BCH or 25 BCH, and Uniswap covering 10,000 UNI or 1,000 UNI.