Cypher seeks to change that with a new futures product planned for later this quarter. Called a “validator vault,” it will help validators lock in the price of SOL they expect to receive at the end of every Solana “epoch,” about two days. Core contributors Barrett and Alex discussed the plans with CoinDesk at the mtnDAO hacker house here, which Cypher is hosting. Source
Major derivatives marketplace Chicago Mercantile Exchange Group aims to launch trading for Bitcoin euro and Ether euro futures contracts starting on Aug. 29. In a Thursday announcement, CME Group said that subject to regulatory review, it plans to launch contracts for euro-denominated Bitcoin (BTC) and Ether (ETH) futures that will be sized at 5 BTC and 50 ETH per contract. Both contracts will be listed on CME, cash-settled, and based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate. “Ongoing uncertainty in cryptocurrency markets, along with…
The launch of euro-denominated bitcoin and ether futures contracts could accelerate the ongoing institutionalization of the crypto market since the euro, the common currency of 19 out of the 27 member states of the European Union, is the second-most sought-after currency in global currency reserves, according to the World Economic Forum. Further, daily turnover in the euro-dollar pair is the highest in the global currency market, which has an average daily volume of $6.6 trillion. Source
Ether (ETH) bulls like a positive spread between its spot and ETH futures prices because the so-called contango reflects optimism about a higher rate in the future. But as of Aug. 1, the Ethereum futures curve slid in the opposite direction. Ethereum quarterly futures in backwardation On the daily chart, Ethereum futures quarterly contracts, scheduled to expire in December 2022, have slipped into backwardation, a condition opposite to contango, wherein the futures price becomes lower than the spot price. The spread between Ethereum’s spot and futures price grew to minus $8 on…
Embattled crypto derivatives exchange CoinFLEX is announcing employee layoffs amid a legal battle with ‘Bitcoin Jesus.’ In a new blog post, CoinFLEX says it is laying off a significant number of employees across the board as a means of reducing overhead costs. “We, unfortunately, had to let go of a significant number of the CoinFLEX team across all departments and geographies. The staff cuts and non-staff costs that we have made will reduce our cost base by approximately 50-60%. The majority of the team that remain are focused on product…
The trading of Bitcoin and Ether futures on CME remained elevated in the second quarter, with daily open interest hitting all-time highs. Bitcoin (BTC) and Ether (ETH) derivatives contracts offered by CME Group saw record activity in the second quarter, offering tangible evidence that professional traders were still accessing digital assets during the bear market. The average daily open interest (OI) across CME’s crypto futures products reached 106,200 contracts in the second quarter, the highest on record, the company disclosed Thursday. In futures markets, OI reflects the total number of…
Total market capitalization increased 6.4%, one of the biggest gains in recent weeks as risk appetite returned among investors as they priced in lower rate hikes ahead. Ether led gains among majors, with Solana’s SOL, BNB, and Cardano’s ADA up 6.4% in the past 24 hours. Elsewhere, Uniswap’s UNI and bitcoin cash added as much as 21%. Source
CME futures data combines with numbers from derivatives platforms to suggest that investors are getting less fearful. Bitcoin (BTC) traders may be nervous going into the Federal Reserve rate hike decision, but research suggests that the bulls are broadly gaining ground. In a fresh update on July 26, analytics firm Arcane Research flagged what it calls “improving” sentiment among institutional traders. Caution mixed with “improving sentiment” While attention has focused on the likelihood of a deeper macro low for BTC/USD to come, it appears that not every investor cohort is…
After LUNA crashed, cryptocurrency is bound to go through a long bear period. As BTC and ETH plunge for days, the assets that crypto investors hold in their wallets rapidly depreciate. Many crypto users have had no choice but to remain inactive as they wait for the next bull. Meanwhile, veteran investors have already started to profit from the bearish market conditions. For them, the sluggish market represents an incredible opportunity because the market decline is always much more volatile than the rise. Tapping into such market conditions, investors could…
Ether rose as much as 10% in the past 24 hours and is up nearly 30% since last Monday. The asset traded at just over $1,500 in early European hours today – setting a one-month high – after breaking out of the $1,000 to $1,200 price range, price charts show. Source