Author: Andrei Ionescu
Despite widespread social media claims that Ethereum’s ether (ETH) is stagnating, market data paints a very different picture. Surging activity in Ethereum derivatives, decentralized applications, and stablecoins showcases renewed investor interest and growing utility for the blockchain. Record Derivatives Activity and Price Surge ETH cumulative open interest in perpetual and standard futures contracts has reached an all-time high of 6.32 million ETH ($27 billion), a 17% month-to-date increase, according to CoinGlass. This surge aligns with a 35% price increase, pushing ETH to $3,400, mirroring Bitcoin’s recent gains. Premiums on three-month ETH futures have also climbed, hitting an annualized 16% on…
OKX has announced the expansion of its USDC trading zone to support the growth of the USDC ecosystem and meet the diverse trading needs of its users. On November 28, 2024, between 5:00 PM and 6:00 PM (UTC+8), the following USDC trading pairs will be launched on the platform: A Note of Caution OKX reminds users that digital assets are innovative investment products with high price volatility and significant investment risks. The platform advises investors to fully understand the nature of digital assets, carefully assess their investment capacity, and make informed and prudent decisions. This latest addition underscores OKX’s commitment…
Binance, a leading cryptocurrency exchange, has announced the launch of several new spot trading pairs and trading bot services to enhance the trading experience for its users. The new offerings will go live across two days, starting November 28, 2024. New Spot Trading Pairs November 28, 2024 (08:00 UTC): November 29, 2024 (08:00 UTC): Trading Bots Integration Binance will also enable Trading Bots for selected pairs, including Spot Algo Orders, Spot Grid, and Rebalancing Bots, to assist users with automated and efficient trading strategies. November 28, 2024 (08:00 UTC): November 29, 2024 (08:00 UTC): Important Notes These updates reflect Binance’s…
Binance, a leading cryptocurrency exchange, has announced the integration of Thena (THE) across various services, including Binance Simple Earn, Buy Crypto, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures. This move aims to provide users with greater accessibility and trading flexibility for the token. Integration Timeline and Details 1. Binance Simple Earn 2. Auto-Invest 3. Buy & Sell Crypto 4. Binance Convert 5. Binance Margin 6. Binance Futures Important Notes This comprehensive support for Thena (THE) across Binance’s ecosystem underscores the exchange’s commitment to expanding token accessibility and providing diverse trading and earning opportunities for its users.
The UK’s Financial Conduct Authority (FCA) announced plans to finalize comprehensive regulations for the cryptocurrency sector by 2026 as the government works to align with global financial hubs. Starting this quarter, the FCA will release a series of discussion papers and consultations addressing key areas such as market abuse, trading platforms, crypto lending, and stablecoins, according to a statement released on Tuesday. Global Catch-Up Effort The initiative comes as the UK faces mounting pressure to compete with jurisdictions like Hong Kong, Singapore, and the United Arab Emirates, which have already implemented crypto regulations. The European Union’s MiCA framework will come…
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded $438.4 million in outflows on Monday, ending a five-day streak of net inflows that had brought in nearly $3.4 billion, according to SoSoValue data. Key Outflow Details Only two funds saw positive inflows: ETF Market Activity On Monday, the 12 Bitcoin ETFs traded $5.6 billion, a slight increase from $5.4 billion last Friday. Cumulatively, these funds have a total net inflow of $30.4 billion and hold total net assets worth $102.2 billion, representing 5.4% of Bitcoin’s market capitalization. Bitcoin Price Movement Bitcoin retraced its recent gains, falling to $94,500 after nearing…
Arthur Hayes, the former CEO of BitMEX and prominent crypto investor, has made a significant move in the market by shifting his focus to $ENA after selling $ATH at a loss earlier today. A Bold Purchase Amid Price Dip According to blockchain data, Hayes spent 874.9 ETH (approximately $2.8 million) to acquire 4.916 million $ENA tokens through Wintermute Trading. The transaction makes $ENA his second-largest holding. This purchase comes as $ENA’s price dipped by approximately 15% in the past 24 hours, raising speculation that Hayes may be attempting to capitalize on a potential rebound. Market Reactions and Speculation The strategic…
Solana’s decentralized exchanges (DEX) achieved a groundbreaking milestone in November, with monthly trade volumes surpassing $100 billion for the first time. Key Statistics Driving Factors Research Director Eden Au, attributed the surge to the ongoing memecoin frenzy combined with Solana’s low transaction fees and user-friendly infrastructure. Platforms like pump.fun and Raydium have significantly contributed to this growth: Both hit record highs in November, according to DefiLlama data. User Growth and Market Outlook Solana recorded 107.5 million active addresses in November, with a potential to surpass the October record of 123 million before the month ends. Au predicts continued retail user…
MicroStrategy’s stock (MSTR) has reached an unprecedented level of correlation with Bitcoin (BTC), according to data from MSTR-tracker. Recently, the 100x ratio of MSTR to BTC price surpassed 0.5 for the first time, marking a new milestone in the company’s close ties with cryptocurrency market dynamics. Premium Over Bitcoin Holdings Surges MSTR’s stock price has also recorded a 3.4% premium over its net asset value (NAV) of Bitcoin holdings, reflecting heightened investor interest in the company’s cryptocurrency strategy. Since the beginning of the year, MSTR has surged approximately 197%, significantly outperforming Bitcoin’s own price growth over the same period. Strengthening…
Binance Futures is set to expand its offerings with the launch of SLERFUSDT and SCRTUSDT perpetual contracts on November 21, 2024, at 11:30 UTC, enabling leverage of up to 75x for traders. Details of the Launch The contracts are USDⓈ-margined, and the funding rate will have a maximum range of +2.00% / -2.00%, settled every four hours. Trading Features Binance Futures allows users to trade these contracts using the Multi-Assets Mode, which provides flexibility in margin assets. For instance, traders can use BTC as margin when trading SLERFUSDT or SCRTUSDT. Dynamic Risk Management Binance will actively monitor and adjust contract…