Author: NBTC
A couple of days ago, MEXC Futures, a quite popular platform for futures trading, informed the users about their approach to letting traders use less leverage on futures trading. Effective from 05:10 UTC on 18th March 2024, the platform will be implementing the dropping of the maximum leverage multiplier for specific future trading pairs. This strategic change is made to fully implement this platform’s vision to provide a secure and efficient trading environment. The trading pair for this new policy is GROKUSDT, which will change the maximum leverage from 75 to 50. The recent release of various margin limits on…
Deribit DVOL index, a measure of expected price volatility over the next 30 days, has surged to an annualized 76%, the highest since November 2022. The surging volatility has some traders “overwriting calls” to generate additional income. Deribit registers decent trading activity in bitcoin calls at strikes as high as $200,000. Crypto exchange Deribit’s bitcoin volatility index, DVOL, a measure of how much market participants believe prices will move over the next 30 days, has surged. The jump is good news for bitcoin (BTC) holders looking to generate additional income from the options market. The 30-day implied volatility index has…
Arthur Hayes, founder of cryptocurrency exchange BitMEX, reportedly withdrew 100,000 PENDLE from Binance, equivalent to $314 thousand, at $3.14 per token. This move is part of a larger trend for Hayes, who has been steadily accumulating PENDLE since April 29, 2021. Hayes collected a total of 1.44 million PENDLE at an average price of $1.67, for an estimated cost of $2.41 million. Despite his considerable investment, Hayes continues to hold all 1.44 million PENDLE, which is now worth $4.55 million. This represents an unrealized profit of $2.14 million, a gain of 88.4%. In addition to his PENDLE holdings, Hayes’ known…
Binance, the world’s largest cryptocurrency exchange, announced that the value of the funds it holds for its users exceeds 100 billion dollars. In its official blog post, the company attributes this success to strong fund inflows and rising digital asset prices. Binance stated that it maintains a 1:1 ratio for all user funds with additional reserves and presented the Proof of Reserves March report, which it claims proves this, for users to review. Here is the amount of assets held by the company as recorded by Binance’s Proof of Work system: Bitcoin (BTC): 580,464.411 Tether (USDT): 21,608,372,764.925 Ethereum (ETH): 4,120,427.187…
Pseudonymous analyst, Titan of Crypto, has recently shared insights regarding the potential cycle top for Bitcoin, offering two conservative predictions based on historical Fibonacci extension levels. The analyst outlined their reasoning, citing previous Bitcoin cycles and Fibonacci extension levels: the 1st and 2nd cycles of Bitcoin found their tops within or at the top of the 227.20% to 241.40% Fibonacci extension levels. Meanwhile, the 3rd cycle peaked at the top of the 141.40% to 161.80% Fibonacci extension levels. Considering the tendency for returns to diminish over time as markets mature, Based on these assumptions, the analyst presented two potential cycle…
Polygon has a positive growth outlook with 6 unique growth fundamentals highlighted. Amongst all, zero inflation, ecosystem boost, and rebranding efforts stand out. Polygon, the Layer 2 scaling solution for Ethereum, has been witnessing a remarkable surge in its native token, MATIC price in recent weeks. This surge is not merely a result of market speculation but is backed by strong fundamentals that are propelling Polygon’s price upward. Here are some factors driving this momentum and why MATIC’s price appears to be on track for a bullish rally: Zero Inflation Impact on MATIC Price Last week marked a notable milestone…
A leadership shakeup at crypto custody service and exchange Bakkt (BKKT) will see board member Andy Main take over as President and CEO later next week, according to a Monday press release. The current CEO Gavin Michael will step down “to pursue other opportunities,” the press release said, noting he will remain in an advisory role until 2025. “Andy has the expertise to lead the company forward from this inflection point, with a focus on broadening our institutional crypto capabilities, growing our client base, expanding internationally, and driving towards adjusted EBITDA breakeven,” Michael said in the press release. Bakkt, a…
Ripple Chief Technology Officer David Schwartz has urged validators and node operators of the XRP Ledger (XRPL) to upgrade to version 2.1.0 of the ledger’s reference server implementation, rippled. The new version which introduces significant amendments, bug fixes, and build improvements. Ripple has set a deadline of March 5 for operators to update their servers to ensure uninterrupted service and compliance with the latest protocol enhancements. Key features of the update The latest update, version 2.1.0, brings important improvements to the XRPL, making it safer and more reliable. One of the key updates helps ensure that transactions involving digital collectibles…
Wrapped crypto protocol Clone officially launched its public mainnet on March 1st, introducing Clone Markets and Clone Liquidity, platforms aimed at providing highly liquid markets for non-native assets through “cloned assets” (clAssets). Built on the Solana blockchain, this movement aims to provide a more streamlined and accessible trading experience for users. The launch is a significant step towards Clone’s goal of simplifying the trading of a broad spectrum of non-native tokens on Solana, leveraging the blockchain’s high-speed transactions and low transaction fees. “With Clone’s mainnet launch on Solana, we’re not just enabling trading of non-native tokens; we’re envisioning a future…
Hong Kong-based crypto platform Bitfinex warned BTC miners on March 15 of a potential centralization of power post-halving. Bitfinex published a comprehensive blog report forecasting financial pressure on small miners. The fourth Bitcoin halving is a widely anticipated event in the crypto sector. The halving, expected around April 19, will slash the current reward in half, from 6.25 Bitcoins per block to 3.125. Although the deflationary feature is expected to contribute to Bitcoin’s scarcity and value, new challenges are inevitable. According to the report, the upcoming halving event could prompt small miners to exit the market, leaving the field for…