BTSE Launches Bitcoin Dominance Futures
Greetings from a very busy BTSE HQ, where we are delighted to bring you a quick announcement regarding the latest addition to the BTSE stable:
The latest futures offering from BTSE will be the BTC Dominance Market.
How Does It Work?
The Bitcoin Dominance product measures the dominance of Bitcoin over all other altcoins. This dominance is measured in percent, so the range for the future product is spread from 0 to 100.
Not only is the Bitcoin Dominance Future an incredibly unique trading option that you can make on BTSE, but it is also one of the easiest to follow. On each trade, you will simply be making your move against whether or not Bitcoin becomes more or less dominant on a scale of 0 to 100 over the course of your trade.
Bitcoin Dominance is going to be a perpetual futures contract that supports a variety of assets as collateral, including Bitcoin, Ethereum, Tether, and numerous fiat currencies.
At the outset, the level of Bitcoin Dominance over the rest of the altcoins will be worked out against the figures provided by CoinMarketCap. The plan is to add numbers from TradingView in the not too distant future.
Just How Dominant Is Bitcoin?
Bitcoin has always taken the top spot in terms of market dominance, and it is for this reason that it has become a number that many look and refer to when predicting what the market is going to do next.
In its infancy, Bitcoin of course enjoyed 100% dominance over the market as nobody else had decided to join the party yet. Alternatively, at the peak of the crypto surge in late 2017/early 2018, Bitcoin’s dominance was at its lowest with the altcoins representing over 66% of the total crypto market cap. However, many of the altcoins that gobbled up market share back then have dwindled to almost nothing by now, and Bitcoin dominance sits at around 63% today.
The BTC Dominance Market may be particularly attractive to more risk-averse traders, as recent trends have shown dominance to be notably less volatile than the Bitcoin spot price.
In the crypto space it is always a point of contention whether altcoins will resume their conquest of Bitcoin's market cap, or if BTC will assert its top spot with excessive force. With many prominent minds feeling quite strongly on both sides of the aisle, what better metric to roll into a futures product?
As always, if you have any questions about Bitcoin Dominance Futures or any other BTSE related queries, please feel free to reach out via any of our social media channels linked below.
Our aim is to create a platform that offers you the most enjoyable trading experience. If you have questions or suggestions, please don’t hesitate to reach out to us at firstname.lastname@example.org or DM us on Twitter: @BTSEcom.