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Did the introduction of futures sink the Ether cryptocurrency?

August 17, 2018

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Digital currencies are on track to finish the week on a positive note with all major coins trading in the green early Friday.

Ether ETHUSD, +4.13% which runs on the ethereum network, has borne the brunt of the August cryptocurrency selloff, hitting an 11-month low Tuesday, with industry experts pointing to the flailing initial coin offering market for the reason for the slump. However, leading crypto analyst Tom Lee, managing partner of Fundstrat Global Advisors, said in a research note that the introduction of Ether futures by the Bitmex exchange might explain the recent decline of the second largest digital currency.

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