5 days ago
The planetary crypto marketplace headdress roseate 2% successful the past 24 hours to $4.03 trillion arsenic large cryptocurrencies posted gains.
Bitcoin (BTC) added 2.3% to $118,527, ether roseate 0.7% to $4,293. Solana and XRP each precocious 4.4% portion Dogecoin gained 4.7%.
The rallies came alongside dense abbreviated liquidations, with hazard sentiment improving aft a comparatively calm macro session.
Derivatives Positioning
- Futures unfastened involvement (OI) successful large tokens decreased implicit the past 24 hours, indicating a superior outflow. It's besides suggestive of terms losses being driven by the unwinding of agelong positions alternatively than outright abbreviated sales.
- XMR's perpetual futures look overheated, with annualized backing rates exceeding 200%. The highly precocious fig whitethorn punctual arbitrageurs to instrumentality a simultaneous agelong presumption successful the spot marketplace and a abbreviated presumption successful futures, allowing them to pouch the backing safely.
- Funding rates for different large tokens stay pinned astatine astir 10%, reflecting a moderately bullish bias.
- On the CME, unfastened involvement successful ETH futures roseate to 1.70 cardinal from 1.51 cardinal ETH.
- BTC unfastened involvement remained dependable adjacent 138K BTC, the lowest since April.
- On Deribit, BTC options retired to August expiry amusement a flimsy bias toward put, oregon protective, options. ETH options showed a bullish bias crossed each tenors.
- ETH's implied volatility (IV) word operation steepened portion BTC's stay unchanged. Flows astatine OTC table Paradigm featured a agelong presumption successful the BTC $115K enactment expiring connected Aug. 13 and request for $150K calls expiring successful September.
- Volumes were substantial, with $3.3 cardinal traded astatine Paradigm.
Token Talk
- Ethena surpassed $11.89B successful TVL, becoming the sixth DeFi protocol to transverse $10B and the 2nd non-staking exemplary aft Aave to bash so. The sUSDe APY sits astatine 4.72%, attracting yield-focused investors.
- The protocol’s standard underscores increasing appetite for non-staking DeFi models and could power aboriginal designs. Market absorption has been broadly positive, with manufacture figures noting the milestone’s significance.
- USDe maintains a $1 peg with a $10.48B marketplace headdress and $371.97M successful 24-hour volume.
- Polymarket volition modulation UMA’s oracle from OOV2 to MOOV2 aft governance approval, restricting marketplace solution proposals to a whitelist of vetted participants.
- The alteration aims to trim disputes and marketplace manipulation by ensuring proposals are submitted by experienced users, portion keeping quality rights unfastened to all.
- The archetypal whitelist includes 37 addresses, with the displacement framed arsenic moving from unfastened debates to a much controlled council-style solution process.
- Pudgy Penguins secured Formula 1 branding astatine the Singapore Grand Prix aft winning Kraken’s memecoin trading contest. PENGU branding volition look connected Williams Racing’s FW47 car.
- The token gained 55.1% implicit the past 30 days portion dipping 11.8% successful 24 hours, partially rebounding with a 1.4% intraday gain.
- The vulnerability is expected to boost visibility among mainstream audiences and fortify Kraken’s propulsion into sports-linked crypto promotions.
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