Future Looks Bright for Ethereum and Litecoin with the Launch of ErisX
Upon the announcement of TD Ameritrade’s significant investment in ErisX, the brokerage firm revealed that its retail investors are “seeking to access and trade” cryptocurrencies in “the same way they do with traditional capital markets – through a legitimate, regulated and transparent exchange”. Put simply, a rise in cryptocurrency futures markets for the likes of Litecoin (LTC) and Ethereum (ETH) will make them more accessible to retail investors around the world. TD Ameritrade’s client base alone spans more than 11 million investors, amounting to more than $1.2 trillion in asset value.
TD Ameritrade have a proud history of fostering innovation in the world of financial trading. They were the first brokerage firm to allow clients to place orders for company stocks using a touch-tone phone, the first to offer online trading and, more recently, the first to incorporate artificial intelligence (AI) into its brokerage operations – allowing clients to place orders using automated assistants.
The price of Ethereum has been a major talking point among the crypto fraternity of late. Prominent cryptocurrency analyst, Eric Thies recently commented that although Ethereum had lost more than half of its value from its all-time market high, market indicators suggest its value has bottomed out. With a market cap of more than $23 billion, Ethereum is still comfortably the second largest cryptocurrency in the industry behind Bitcoin; although Ripple (XRP) is fast gaining ground on Ethereum. XRP recently overtook Ethereum for a short while as the industry’s second largest digital coin by market cap.
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