Day: October 30, 2023

Cardano (ADA) and Dogecoin (DOGE) Engage in Tight Battle for 8th Spot

With Cardano and Dogecoin engaged in a tight battle, here’s a look into what each of these coins are up to in the near term. The altcoin space has been buzzing with activity over the past few weeks and currently, both Cardano (ADA) and Dogecoin (DOGE) have been engaged in a tight battle for the 8 spot in the top ten crypto list. Over the last week, both these altcoins have delivered over 10% gains, showing strength. Let’s take a look at how both these cryptocurrencies have been performing recently.…

CME Surges through Ranks of Largest Bitcoin Futures Exchange

CME’s rise to prominence is often viewed as a sign of an institutional-led rally in the cryptocurrency market. The Chicago Mercantile Exchange (CME), a regulated financial marketplace is surging through the ranks of the largest Bitcoin (BTC) futures and perpetual futures exchanges by Open Interest, and it’s reminiscent of the early stages of the 2020-21 bull run. Bitcoin Futures Exchange: Open Interest and Rankings With a notional Open Interest (OI) of $3.54 billion, CME has now secured the position of the second-largest Bitcoin futures exchange, a remarkable rise from the…

CME becomes second-largest Bitcoin futures exchange as open interest surges

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The Chicago Mercantile Exchange (CME), a regulated Bitcoin (BTC) Futures exchange, now stands just behind Binance in terms of notional open interest (OI) to rank second in the list of BTC futures exchanges. CME’s OI hit $3.58 billion earlier on Oct. 30, pushing the regulated derivatives exchange platform to jump two positions from the last week. CME overtook Bybit and OKX with $2.6 billion and $1.78 billion in OI, respectively, and is just a few million away from Binance’s OI of $3.9 billion. Bitcoin Futures Exchange rankings by Open Interest.…

Animoca Brands Acquires Web 3.0 Streaming Platform Azarus

Although the monetary terms of the acquisition were not disclosed, this is not the first time Animoca Brands would be investing in Web 3.0 game companies. Popular gaming giant Animoca Brands has announced its acquisition of Web 3.0 streaming platform Azarus as part of its metaverse gaming revolution. Animoca would be seeking to leverage Azarus’ cutting-edge technology in a bid to improve its Web 3.0 games streaming capabilities. Although the monetary terms of the acquisition were not disclosed, this is not the first time Animoca Brands would be investing in…

Bitcoin Ticks Along Above $34K

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Bitcoin (BTC) has started the week in the same buoyant mood that saw it gain around 15% last week. The world’s largest cryptocurrency has held steady above $34,000 in Asian and European trading hours, sitting at just over $34,500, up about 1% in the last 24 hours. The CoinDesk Market Index (CMI), a broad-based tracker of hundreds of tokens, is up around 1.4% on the day and over 11% in the past week. The crypto market’s upward trajectory has been carried by enthusiasm at the prospect of a BTC spot…

Central Bank Digital Currency, or e-HKD, Could Add Unique Value, but Further Investigation Is Needed, HKMA Says

The report said the pilot found that an e-HKD could add value in three main areas – programmability, tokenization and atomic settlement – with the potential to facilitate faster, more cost-efficient and more inclusive transactions. However, the program’s 14 pilots with 16 participating firms were conducted on a small scale under a controlled environment, the report said. Source

GBTC & BITO Witness Historic $1.7B in Trading Volume as BTC Investors Anticipate Bitcoin ETF Approval

In anticipation of this pivotal event, there has been a substantial uptick in trading volume for products launched by ProShares and Grayscale. Activity surrounding Bitcoin investment products, particularly exchange-traded funds (ETFs), has seen a notable increase. This surge is primarily driven by the growing excitement within the market about potential ETF approvals in the United States. Speculation and expert opinions on the potential acceptance of the Grayscale Bitcoin Trust (GBTC) by the SEC have been widespread, especially after the commission chose not to appeal the case before the deadline date.…

Thailand’s Kasikornbank Buys Majority Stake on Satang Crypto Exchange

K-Bank aims to capture 20% of the crypto market in Thailand through the acquisition of Satang Pro. In a bold move signaling growing integration between traditional finance and the burgeoning cryptocurrency industry, Kasikornbank, one of the largest banks in Thailand, has purchased a majority stake in a local digital assets trading platform called Satang Pro. According to a recent filing, the bank, popularly known as K-Bank in the country, acquired 97% of Satang’s parent company shares, amounting to 3.705 billion Thai baht worth around $102.8 million. Satang Pro to Be…