by Rushali 
On Feb 8, the Eth futures have launched by the Chicago Mercantile Group and it showed an amazing response. On the first day of trade, there was more than $30 million worth of contracts traded. All total 388 contracts were traded in which 308 were for February expiry and 84 contracts for march expiry and only one for April.
Each contract is of 50 Ethers and the traders have to buy a minimum of 5 contracts which is around $450000 at current prices.
ETH futures last traded price is $1,826.5, which is a 1.5% price premium over the spot markets. With the launch of futures, Ether’s price has also touched a new all-time high of $1500.
Mythos Capital founder Ryan Adams tweeted that another flippening happened indicating the data by Coinmetrics which says that now Ether has surpassed bitcoins in terms of the on-chain settlement.
Flippening Index is an index that measures Ethereum’s strength relative to Bitcoin by eight key metrics, out of which ETH has already surpassed BTC in 4 of its indicators.
The indicators are transaction count, node count, transaction volume, and total transaction fees. And the index is at an all-time high of 72.4%.
