Latest Cryptocurrency News and Current Crypto Prices
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Crypto News Blocks
Bitcoin Futures And Options Open Interest Rises To $9.6 Billion
- While cryptocurrency spot markets have consolidated. Bitcoin-based derivatives markets have seen continuous action as bitcoin futures and options open interest has been rising significantly.
- Researchers at skew.com recently tweeted that “bitcoin futures open interest [is] quickly bouncing back to a new all-time high,” and also added that CME Group was now the largest open interest “by some margin.”
- In addition to bitcoin futures nearing all-time highs in terms of open interest. Ethereum futures and options have seen increased demand as well as the crypto asset’s spot markets near all-time price highs.
- Bitcoin options have increased substantially during the first month of 2021. The estimated notional value of all open bitcoin options positions is $9.6 billion with an expiry set for January 29, 2021.
- The aggregate of open interest on bitcoin options has risen significantly over the last six months. Data is showing shorts are up 50.64% while longs are 49.36%. BTC longs and shorts stemming from Bitfinex shows longs are increasing while BTC/USD shorts have remained low.
- Read the full story here
Posted: Jan 19, 2021
Now Third Largest Blockchain By Stake Committed, As Ethereum Closes In On $4 Billion Value
- Ethereum is now the third largest blockchain by stake committed, and has plenty of room to grow. Little more than a month after launching the Ethereum 2.0 blockchain now holds 2.7 million Ether, worth $3.8 billion.
- The combination of the Ether price rally and an increasing amount of stakers have propelled the Ethereum 2.0 blockchain to become the third largest blockchain by staked funds.
- Compared to other staking competitors, Ethereum’s percentage of supply committed to staking is significantly lower. Both Cardano and Polkadot see over 60% of the tokens committed to staking. While just over 2% of Ether supply is committed to the deposit contract.
- Compared to others, Ethereum stakers have the additional hurdle of not being able to withdraw their funds until developers complete the transition to the proof-of-stake blockchain. Though this is one of the top priorities, there are no concrete timelines for this transfer.
- Several DeFi projects, including Cream Finance and Lido Finance, give users tokenized versions of their staked Ether. These tokens can be exchanged back to mainnet ETH through platforms like Curve. Whoever the exchange rate may not always be one-to-one.
- Read the full story here
Posted: Jan 19, 2021
