Markets Today: Crypto Prices Hold Steady While Derivatives Show Long Positions Unwinding

Major cryptocurrencies were directionless with U.S. banal scale futures small changed adjacent though the gathering betwixt European leaders, President Donald Trump and Ukraine President Volodymyr Zelensky ended connected a affirmative note.

The apical 10 coins, including bitcoin (BTC) and ether (ETH), fell aboriginal Tuesday, revisiting aboriginal Monday lows, earlier recovering to commercialized level connected a 24-hour basis, according to CoinDesk data.

The CoinDesk 20 scale of the largest tokens roseate 0.5% and the CoinDesk 80 Index, a broader marketplace gauge, added adjacent less, indicating comparatively lackluster trading successful altcoins. The CoinDesk Memecoin scale dropped 0.3%.

Still, prime a fewer names similar Mantle Network's MNT token and HASH chalked retired double-digit terms gains.

Derivatives Positioning

• BTC's retest of $115,000 overnight saw cumulative unfastened involvement successful USDT perpetual futures listed connected Deribit, Binance, OKX, Bybit and Hyperliquid driblet 222,000 BTC to 214,000 BTC, the lowest successful implicit a week.
• The superior outflow suggests the terms driblet was driven by the unwinding of agelong positions alternatively than the initiation of caller abbreviated positions.
• The other was the lawsuit with ETH. Open involvement roseate to supra 5 cardinal ETH, suggesting an influx of caller shorts.
• Open involvement successful the apical 10 tokens, excluding ETH and BNB, fell implicit the past 24 hours.
• Mantle Network's MNT token has gained astir 14% successful 24 hours. However, backing rates person flipped bearish successful the past fewer hours alongside an uptick successful unfastened interest. Those holding agelong positions are present shorting futures to hedge their bullish exposure.
• On the CME, positioning successful BTC modular futures sized astatine 5 BTC remains airy with annualized three-month ground locked beneath 10%. ETH's unfastened involvement has risen to 1.83 million, reversing the bulk of a diminution that took it to 1.51 cardinal ETH, indicating renewed superior inflows. The basis, however, dropped to 8.90% from 11%.
• Open involvement successful ETH CME options surpassed 200,000 ETH for the archetypal clip since September, indicating accrued capitalist involvement successful hedging instruments.
• On Deribit, BTC puts retired to November expiry commercialized astatine a premium to calls, reflecting concerns the terms volition drop. Subsequent expiries amusement neutral-to-bullish sentiment. In ETH's case, the bearish sentiment is seen retired to September expiries.
• Block flows via OTC web Paradigm featured agelong positions successful the BTC $120K enactment expiring Aug. 22 and the ETH $4K enactment expiring Aug. 29.
  

Token Talk

• Starknet's v0.14.0 upgrade introduces a multi-sequencer setup with Tendermint consensus, the archetypal measurement toward decentralizing sequencing and proving. Multiple sequencers volition present enactment successful artifact generation, aiming to boost resilience and throughput.
• The merchandise includes a pre-confirmation strategy for near-instant transaction updates and an EIP-1559-inspired interest exemplary with a minimum complaint of 3 gFRI. A little 15-minute mainnet outage is expected during rollout.
• Starknet plans to grow sequencer and prover decentralization successful aboriginal versions, with the semipermanent extremity of a afloat distributed scaling system.
• The displacement whitethorn besides person implications for Starknet’s STRK token, which is utilized for transaction fees and staking. With the instauration of a basal interest pain and a much competitory interest market, traders tin expect semipermanent proviso compression akin to Ethereum’s post-EIP-1559 dynamics, which has burned implicit 5 cardinal ETH to date.
• Solana's DeFi TVL roseate 30.4% successful the 2nd 4th to $8.6 billion, driven chiefly by Kamino’s $2 cardinal contribution, cementing its spot arsenic the second-largest web by DeFi activity, Messari information shows.
• Spot DEX volumes fell 45% to $2.5 cardinal arsenic memecoin hype faded, portion stablecoin proviso dropped 17% to $10.3 billion. USDC’s Solana marketplace stock slid to 69% with a $7.2 cardinal cap, portion USDT held dependable adjacent $2.3 billion.
• Liquid staking information grew to 12.2% of SOL’s supply, lifting staked worth to $60 cardinal and enhancing DeFi yields. Solana’s circulating marketplace headdress climbed 30% to $82.8 billion, ranking sixth among each tokens.