Tag: 77B

Ethereum open interest hits $7.7B, raising the chance of a short squeeze above $1.5K

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The Ether futures premium remains negative, while options markets are pricing similar risks for bulls and bears. Traders’ sentiment about Ether (ETH) has noticeably improved as the price rallied 7.5% from Oct. 2 to 6, but the price recapturing the $1,350 level was not compelling enough to trigger any bullish activity from derivatives traders. Ether price is still 32% below the $2,000 level last seen on Aug. 14 and the network’s average transaction fee stood near $2 after the Merge. The most significant upgrade on the Ethereum chain happened on…

Coinbase, Readying for Public Listing, Gets $77B Valuation From Nasdaq Private Market

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Cryptocurrency exchange Coinbase, which is preparing to trade publicly in the next few months, is being valued at $77 billion, based on trading of the company’s privately held shares on a secondary market.  Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece, according to two people with knowledge of the auction. That implies a total company value of about $77 billion – greater than Intercontinental Exchange Inc., the owner of the New York Stock Exchange. “The third…