Nevertheless, bitcoin did make a slight advance and coupled with the $20 billion altcoin rally, the total cryptocurrency market cap soared from $444.3 billion to $467.8 billion.
Bitcoin Posts Minor Advance as Futures Launch on CBOE:
The bitcoin price rallied after U.S. exchange CBOE launched regulated bitcoin futures contracts on Sunday, but the most prominent cryptocurrency’s performance was a bit more tepid during the first full day of trading. After briefly rising above $17,500, the bitcoin price settled down to a present value of $16,906. This represents a daily increase of one percent and translates into a $283 billion market cap. January futures, meanwhile, were priced at $17,730 at the time of writing.
Notably, bitcoin futures trading currently represents little more than a blip in the market. While CBOE’s $50 million in first-day volume was respectable for a nascent asset class, it pales in comparison to the $12 billion in trades that bitcoin exchanges processed during the same period.
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