Bitfinex launches Bitcoin and Ether volatility betting

The world of crypto financial mechanisms is expanding with a lot of betting options now available across some of the world’s most trusted exchanges

Cryptocurrency exchange Bitfinex Derivatives has confirmed that it will now allow investors to place bets on the volatility of Bitcoin and Ether through the launch of perpetual futures which will be influenced by the fluctuations in the value of the two aforementioned currencies.

The new betting options are based on the decentralized derivatives platform Volmex and the platform’s Bitcoin and Ether implied volatility indices, BVIV and EVIV respectively. The indices are based on the forecasted currency volatility over 30 days, and Volmex’s indices are based on Wall Street’s fear gauge.

The volatility futures will allow Bitfinex users to place wagers on price movements for both Bitcoin and Ether and try to capitalize on anticipated market trends. Currency volatility has been an interesting part of the cryptocurrency experience, opening up many gambling avenues.

Similar bets on crypto financial assets have been placed by investors trying to guess whether the US Securities and Exchange Commission (SEC) would, for example, approve a Bitcoin or an Ether ETF. A Bitcoin ETF was approved only recently, with Polymarket, a prediction platform, now having accepted over $2 million in wagers on an Ether ETF approved by the SEC before May 31.

Betting on crypto financial mechanisms is not new, and it’s getting a lot of traction, with crypto exchanges keen to capitalize on this trend. These betting activities centered around crypto gambling hew closer to legacy Bitcoin and Ether finance than they do to sportsbooks or casino sites.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

Similar News