Bitcoin surged to new highs on Wednesday, as prices crossed $12,000 for the first time ahead of the planned launch of BTC futures this weekend.
The BTC/USD exchange rate rose nearly 4% to $12,200, where it was trading near session highs. The world’s no. 1 digital currency has added nearly 20% to its value over the past five days.
At present values, bitcoin is capitalized at $209 billion, according to CoinMarketCap. That represents roughly 57% of the total cryptocurrency market cap. At the time of writing, 17 other cryptos had a market valuation of at least $1 billion.
Prices are being pushed higher by the news that the CBOE Futures Exchange will launch its bitcoin futures contract this Sunday. By doing so, it will become the first major exchange to list a BTC derivates product.
CME Group will launch its very own bitcoin futures product on 18 December. Meanwhile, Nasdaq is also reportedly developing its own futures product for next year.
