CME launches Ethereum microfutures trading

On Monday, December 6, the price of bitcoin is falling. As of 09:55 MSK, the first cryptocurrency is trading at $48,386.58 (-1.89%), according to CoinMarketCap. Bitcoin's sharp collapse occurred on Saturday, when the rate fell to $45,000.

Ether fell to $4109.53 (-2.78%). Binance Coin fell 4.84% to $547.26.

"The cryptocurrency market experienced a shock shaking on Saturday morning. Low trading activity and previous rather narrow trading range created situation, when stop orders were pulled close to the market. As a result, the unidirectional movement following the US stock indices has triggered a snowball effect in theThe price of the market fell to $42,000 in the early morning. The fall below Friday's lows of $52,000 caused a sharp liquidation of positions in the market, with the price falling to $42,000 in the moment.
Other altcoins also fell by 10-25% as investors still couldn't stay away from such a high-profile liquidation. By the end of the day, buyers brought BTC/USD back to $48,000, but they never had the strength to push it above $50,000. On the theanalysis side, bitcoin is experiencing a crucial moment. The bulls managed to get the quotes back neatly above the 200-day moving average and the RSI index touched the 20 level, indicating oversold.
StabilizeThe rate will be higher and even a small pullback will form a positive picture that the bulls managed to defend the global growth trend. If the rate by results of Monday will fix lower than $48 000, it will be a signal that bears did not finish the game, and it is necessary to expect the further decrease, probably, in area of $40 000".

Bitcoin exchange Binance has announced support for the Arrow Glacier hardforge on the Ethereum network, which will take place on block #13,773,000 around December 9, 2021.

The update will see the implementation of a single proposal to improve the Ethereum networkEIP-4345. It introduces a postponement of the activation of the "difficulty bomb" until May 2022.

A new test network on the Proof-of-Work consensus algorithm called Sepolia will also be launched.

The Binance team has warned that five minutes before the hardfork will closet deposits and withdrawals for all tokens on the Ethereum blockchain. Asset trading will not be affected by the event. No new tokens will appear based on its results.

The ability to make deposits and withdraw assets will open when the specialisthe exchanges will be convinced of the stability of the renewed network.

Binance also announced support for the SIP-012 update on the Stacks network. It will take place on bitcoin block #713,000 on Tuesday, December 7, at approximately 2:00 AM MSC.

Native Token Deposits and Withdrawals STX exchange will discontinue one hour before the update. The team will return the features after it considers the network to be stable.

Recall, in early December, Binance annotated support for "network updates and hardforces" projects Avalanche, Tezos and Theta Network.On Saturday, the cryptocurrency market saw the collapse of Etherium, Bitcoin and most other digital currencies. However, unlike BTC, which still failed to catch up after Saturday's drop, ETH almost made it through.

The ETH/BTC ratio is up toneedle thanks to this growth to a more than 3-year high. At the moment, the $494 billion capitalization of ethereum is more than 2 times lower than the capitalization of bitcoin.

On a weekly basis, the gap between ethereum and bitcoin is striking, with BTC down nearly 15%,while ETH lost less than 4%.

But there are other cryptocurrencies from the Top 20 that stood out more strongly against the collapse in the last few days.

This is Terra (LUNA), which managed to more than recover from Saturday's fall and even set a new record on Sunday morningм. The currency currently ranks 10th in the Top 20. Despite a 9.4% decline since yesterday, Terra maintains a weekly gain of over 32%, making it the highest performing cryptocurrency in the Top 20.

Polygon (MATIC/USD), currently ranked 16th in the reIt is also one of the few cryptocurrencies in the Top 20 to hold gains (15.4%) for the week.

Finally, the 3rd cryptocurrency that stands out the most is Algorand (ALGO/USD), the 18th cryptocurrency in the Top 20, which gained almost 12% in 24 hours and 4% for the week.Cryptocurrency Lightcoin was trading at $143,500 at 12:34 p.m. (09:34 GMT) on Monday, according to the Investing.com index, down 10.42% on the day. It was the cryptocurrency's biggest drop in value since December 4.

The drop also triggered a decline in market kLightCoin capitalization to $9.992B, or 0.45% of the total capitalization of all cryptocurrencies. While previously at its peaks, LightCoin's capitalization was $25.609B.

Over the past 24 hours, Lightcoin has been trading between $143,500 and $156,400.

Over the past 7 days, cryptocurrency Lytcoin felt a drop in the rate to the extent of losing 27.23%. The volume of Lightcoin currency traded in the last 24 hours prior to this story was $1,871B or 1.55% of the total volume of all cryptocurrencies. The exchange rate has ranged between $130,3000 and $218,9000 in the last 7days.

Right now, Lightcoin is still below 65.83% of its peak of $420.00, which was reached on December 12, 2017.

Meanwhile, other cryptocurrencies
Cryptocurrency Bitcoin last traded at $47,821.8, according to the Investing.com index, fallingat 2.43% for the day.

Etherium was trading at $3,971.05 , according to Investing.com index, down 5.11%.

Bitcoin's market capitalization is $908,185B or 41.02% of total cryptocurrency capitalization, while Etherium's market capitalization is $474,950B or 21.45% of total crypto market capitalization.On December 6, the Chicago Mercantile Exchange (CME) launched microfutures trading based on cryptocurrency EThereum.

Each contract is a tenth of ETH. Microfutures are settled and do not assume the delivery of the physical asset.

Against this background, the price of the second most capitalized cryptocurrency exceedsthe strength of $4160. The asset has gained 0.5% over the last 24 hours, according to CoinGecko.

Recall that in February, Chicago'sThe CME launched futures on Ethereum. In May, the CME began trading bitcoin microfuturesн.

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