Ethereum Merge Will Not Affect Derivatives Trading Process, According to FTX
The “FTX” exchange informed its users on Tuesday that the Ethereum merge would not affect the trading process of the derivatives market. Furthermore, the exchange has stressed that it will not liquidate Ether derivatives, including futures and perpetuals, before the Merge and intends to continue trading throughout the event.
As previously reported by Pipsafe, the Merge will take place within the following months, completing Ethereum’s transition from the proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) blockchain.
“FTX has no plans to suspend or settle ETH futures before the merge and will do everything possible to support continued trading,” FTX said in a statement.
According to CoinGecko, FTX is the second largest cryptocurrency exchange by daily derivatives trading volume. The exchange provides futures and perpetual contracts linked to the underlying value of ether, among other crypto assets.
The FTX announcement comes at a time when the total open interest of Ethereum futures on exchanges has surged from $5 billion in mid-June to more than $7.7 billion right now, according to data from The Block’s platform.