Octopus Protocol unleashes the untapped potential of the DeFi derivatives market - cyptoranking.com

2024-05-06

Popular crypto exchanges(2023 Update) 2024-05-06
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On the other hand, if the strike price is close to the current market price, it could attract more trading activity, potentially leading to increased price fluctuations and volatility, the Deribit executive added. The popularity of a game often determines the value of gaming tokens and coins, the size of the player base, and the demand for in-game assets. Therefore, investing in gaming tokens and coins can be profitable, especially for popular games with large player bases. Octopus Protocol unleashes the untapped potential of the DeFi derivatives marketnano config.json In terms of pure transactions, we can see that there was a drop in activity from mid-July to mid-August, with the metrics starting to pick up from 21 August, with 119 transactions recorded in the first week.

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On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. "There are many reasons for the current altcoin/ether underperformance vis-à-vis bitcoin," Deutsche Digital Assets Head of Research André Dragosch told The Block. He said that a major catalyst for the underperformance of ether was the lukewarm reception from institutional investors toward last week's newly deployed Ethereum Futures ETFs in the U.S. Different Ways to Convert Bitcoin to Fiat CurrencyCryptocurrency prices seem to be responding negatively to the recent war in Israel. CoinMarketCap data indicated that the market’s valuation dropped 0.54% over the past 24 hours. Altcoins suffered the most as Bitcoin’s (BTC) market dominance rose 0.02% during the same period. Blockworks reported in September that physical penguin plushy toys are hitting the shelves of Walmart locations ahead of the 2023 holiday season. Pudgy Penguins drew some $500,000 worth of sales in their first few days of being available on Amazon.

In the trailer, Watkinson recounts creating the punks’ accessories over the course of a month before launching the project. According to Watkinson, CryptoPunks weren’t a finished product when they launched. Only companies who are registered with the Financial Conduct Authority (FCA) as virtual asset service providers have the authority to allow their own promotions in the nation during the transition period to the new system. Companies are required to make substantial updates to their digital platforms in order to properly inform prospective clients of investment risks in accordance with the laws. Malaysia Cracks Down on Illegal Crypto Exchange, 40 ...“Bitcoin, like the spiritual leaders who have come before it in the Middle-Eastern desert, is a miraculous gift capable of transforming an oppressed, forgotten people. The Palestinian economy is a multi-billion dollar economy that unfortunately benefits mostly outsiders. But if Bitcoin were adopted as the official currency, Palestinians would be able to shape their own economic destiny and in so doing their sovereign destiny,” Keiser said. The amendments reportedly met some reservations from the Cyprus Bar Association, especially regarding the obligation for crypto service providers with acting licenses from other European countries to still register with the CySEC. Such provision was included in the amendments by the CySEC itself.

In the news, Ripple CEO Brad Garlinghouse announced that the company will not acquire Fortress Trust. This comes after a beach that compromised some of its customers. Police spokespeople said they had frozen crypto exchange wallets and seized coins. How To Buy Bitcoin Anonymously: A Privacy & Security ...Web2 and Web3 share similar technologies, but they approach challenges differently. While Web2 aims to connect people, Web3 combines this data in meaning along with increasing trust because of decentralization. Unique to the project is its ambition to enable users to “prove speedruns with hidden strategies,” an untapped area highlighted by controversial runs such as those seen in Minecraft by players like the gamer known as Dream.

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