Author: NBTC
This is a segment from the Empire newsletter. To read full editions, subscribe. We’re just barely halfway through the month and CME’s crypto unit is already logging its best month since it launched bitcoin futures contracts way back in 2017. As many loyal Empire readers know, I like to look at CME data to understand where traders and institutions are putting their money. So, yesterday I caught up with Gio Vicioso, CME’s head of crypto. Turns out, the firm is averaging “a little bit over $10 billion a day across our futures suite.” “Just comparing November this year to last,…
TapSwap, one of the biggest players in the tap-to-earn networks in Telegram, has continued to disappoint users who have been waiting anxiously for its token generation event (TGE), where holders will be able to convert their coins into fiat currencies. TapSwap delayed TGE TapSwap is one of the leading players in the Telegram tap-to-earn industry, where it has accumulated over 70 million users globally. It is a Telegram mini-application that lets users accumulate TAPS tokens by doing simple tasks like clicking a button, watching its YouTube videos, daily logging, and referrals. TapSwap’s network has had a strong growth in the…
According to the latest information, FTX expects the restructuring plan to come into effect in early January 2025. The bankrupt cryptocurrency exchange will begin distributions to creditors in March at the latest. FTX and its affiliated debtors announced that they have completed their Chapter 11 reorganization plan, which is expected to go into effect in January 2025. CEO John J. Ray III noted that initial distributions will begin within 60 days of the effective date and require clients to create accounts, complete KYC, and submit tax forms. FTX provided the following updates on the expected timeline for distribution: In early…
Cryptocurrency analytics firm MarktQuant has detected a significant shift in Bitcoin’s market structure following the recent liquidation event at $66,300. According to the firm’s latest report, the clearing of these liquidations marks a significant turning point, with market dynamics highlighting a divergence between futures and spot trading behavior. MarktQuant noted a decline in open interest, reflecting a decline in leveraged positions. This trend signals that traders may be taking profits or withdrawing speculative capital and therefore pulling back from riskier bets in the derivatives market. At the same time, spot trading behavior paints a contrasting picture. Despite Bitcoin’s decline from…
Running an Ethereum L2 was historically very expensive. L2s had to pay millions in data availability costs to the L1. All that changed with the Dencun hardfork (EIP-4844) in March 2024. It introduced an expansion of blockspace called “blobs” for L2s to post batched data extremely cheaply to the L1. Blob space sits in a separate fee market from the L1. It’s about an order of a magnitude cheaper than L1 blockspace, making it a critical aspect of Ethereum’s rollup-centric roadmap. To illustrate that point, Base paid $9.34 million in expenses for Q1 2024, which saw a sharp drop to…
In a decade defined by tech, Cathie Wood has been one of the most forward-thinking investors. The CEO of Ark Investment Management (ARKK) is renowned for her focus on disruptive technologies — but her bets haven’t always paid off. ARKK was the best-performing actively-managed fund of 2020 — it has fallen from grace significantly since. Down from a February 2021 peak of $156.58, shares of the fund are now trading at just $51.11, although the fund has marked a modest 6.38% year-to-date (YTD) gain. One of Wood’s favorite companies is electric vehicle maker Tesla (NASDAQ: TSLA), which is also ARKK’s…
Aerodrome has gained significant attention with its exclusive achievement. As per Aerodrome, its Epoch 61 has broken the former volume records, touching a staggering $5.07B, denoting Aerodrome’s surging influence. The platform revealed this remarkable development on its official social media account. Aerodrome Volume Goes Supersonic 🛫Epoch 61 shattered the volume record, reaching $5.07 billion, with Slipstream accounting for 93%.A total of $6.1 million in Total Rewards (fees + incentives) was distributed to veAERO voters. pic.twitter.com/p6vLNYCTQX — Aerodrome (@AerodromeFi) October 31, 2024 Aerodrome Sees a Huge Surge in Volume, Signifying a Resilient Engagement and Trust In the latest X post, Aerodrome…
Paris – Printemps, the iconic department store chain, has partnered with Binance, the world’s leading cryptocurrency exchange, and Lyzi, a fintech innovator in crypto payments, to become the first department store network in France to accept cryptocurrency payments. This collaboration opens up a seamless shopping experience for crypto users across Printemps’ 20 stores nationwide.—Thanks to this strategic partnership, over 6.5 million French cryptocurrency users can now make purchases using Bitcoin, Ethereum, and other popular digital assets like USDC and EURI at any Printemps store. The integration of Binance Pay and Lyzi’s platform provides customers with flexibility and speed when paying…
Bitcoin (BTC) is showing the first signs of positive price momentum since June, as it attempts to convincingly break the $69,000 price zone and shift to a “euphoric bull market.” According to Glassnode’s latest “Week Onchain Newsletter,” the recent rally has seen Bitcoin’s spot price break through key technical and on-chain price levels, pushing many investor positions back into unrealized profits and providing a potential boost to market sentiment. The AVIV Ratio, a key on-chain metric assessing active investors’ unrealized gains and losses, remains constructive, suggesting that profitability has remained robust even as the market faced challenges. This ratio also…
Project Liberty, which is building a decentralized social media ecosystem, is working with Consensys to expand into Ethereum (ETH). The project is “meeting the zeitgeist” and is population-scale ready, founder Frank McCourt said in an interview. Project Liberty, billionaire Frank McCourt’s attempt to create a decentralized social media platform, is partnering with Ethereum developer Consensys to enter that blockchain’s ecosystem. Under the agreement, announced on Wednesday, Project Liberty’s Frequency blockchain will become compatible with Consensys’ technology, including the Linea layer-2 network that uses “zero knowledge” privacy technology to achieve massive transaction throughput and the MetaMask self-custody wallet, which has 30…