ETH and broader crypto markets jump on ETH ETF news
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We are proud to announce that OKX has partnered with SUN ZU Lab to bring you their first Exchange Liquidity Analysis report. This report focuses on OKX spot and perpetual futures liquidity, providing valuable insights to navigate the dynamic landscape of trading on OKX.
“During this period, the crypto market experienced a significant upswing, and OKX showed considerable trading volume and healthy order books in February 2024”, according to the analysis by SUN ZU Lab. Link?to the official announcement! ?
Weekly Insights Report: ?
The last few days were packed with macroeconomic, geopolitical and crypto news! Last week, the Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Composite climbed to record highs, with the Dow crossing the 40,000 threshold for the first time, as inflation and interest rate worries appeared to dissipate after new CPI data showed slower than expected inflation in the US. Moreover, Bloomberg reported that stock markets are on a record-hitting spree worldwide, with 14 of the 20 biggest markets at or near record highs, from NY to London to Tokyo. With fewer obstacles in sight, this rally looks all set to keep rolling. On the geopolitical front, the International Criminal Court has requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu, Hamas leader Yahya Sinwar, and others on war crimes charges stemming from Hamas’s Oct. 7 attack and Israel’s response in Gaza. Europe had its first major assassination attempt on a political leader in more than 20 years, as Slovakia's Prime Minister Robert Fico remains in a serious but stable condition a few days after an assassination attempt that sent shock waves across the continent. Iranian President Ebrahim Raisi and Iran’s foreign minister were found dead at the site of a helicopter crash in a remote northwestern region of the country. Raisi’s death will “set off a fierce scramble for power” in the Islamic Republic, The Atlantic writes. ?
On the crypto front, ETH is up by 22% since yesterday, trading above $3700, fueled by reports from Bloomberg ETF analysts that the ETH ETFs could be approved on May 23rd, increasing their odds from 25% to 75%. The approval of an ETH ETF is seen as an increasingly political issue, especially after the move to overturn the SEC's SAB 121 ruling about crypto custody passed the House and Senate. The news sent Open Interest for Ether futures on CEXs to new highs, hitting $14 bn. In addition, it was reported today that Fidelity has amended its S-1 filing with the SEC, indicating that it will not stake ether in its proposed spot ETF. ?
Grayscale's Michael Sonnenshein has stepped down as CEO to "pursue other interests," the firm said. The exact reasons for Sonnenshein's departure are unclear. However, Grayscale's GBTC spot bitcoin ETF has seen more than half of its AUM, equivalent to around $10 bn, exit the trust since it converted to an ETF. A former Goldman Sachs executive, Peter Mintzberg, will be CEO, effective August 15, and join Grayscale's board of directors. ?
The Senate has joined the House of Representatives in overturning the SEC's SAB 121 in a 60-38 vote. SAB 121 requires crypto custodians to hold customer assets on their balance sheet, which has significant consequences and makes the process much more complex. President Biden previously warned that he would veto this resolution if it passed in Congress, stating that he would side with Gensler and the SEC. The vote passed with support of most Republicans and 12 Democrats. ?
The Chicago Mercantile Exchange (CME) intends to offer spot Bitcoin trading to its clients as demand for the product increases. As a global derivatives powerhouse, it hosts the top Bitcoin futures exchange by Open Interest (OI), while Binance leads in spot trading volume. A spot market would allow for complex spot and futures strategies to be executed in the same venue. ?
On a weekly basis, BTC is up by 7.8% and ETH is up by 4.9%.
? ? ?Token of?The Week:?The ONDO token
领英推荐
The ONDO token has performed remarkably well since its launch earlier this year, recently reaching an all-time high of $1. Since BUIDL's launch, ONDO has seen average daily trading volumes of more than $100 million on Coinbase and Bybit, with its price doubling during this period. ? Earlier this week, Ondo Finance announced the transfer of $95 million in assets to BlackRock's new tokenised fund, BUIDL, to facilitate instant settlements for its own US Treasury-backed token, OUSG. Through these initiatives, Ondo Finance is strengthening its position as one of the leading players in the rapidly expanding real asset tokenisation (RWA) sector [...]
? Read the full analysis here:?https://en.thebigwhale.io/article-en/ondo-finance-ondo-analysis-of-the-rwa-star
? ? ? ? ? ? ? ? ? ? ? ? We just finished mapping the entire crypto ecosystem ??
? 500+ projects/companies/DAOs/funds.. listed!
A total of 4 high-level categories: Blockchain Infrastructure; Blockchain Applications; Digital Currencies & On-chain Assets; Institutional "TradFi-like" Services, divided into sub-categories (e.g., Blockchain Infrastructure > Blockchain Services) and further down into sub-sub-categories (e.g., Blockchain Applications > DeFi > Decentralized Exchanges) ?
Download the full 28 pages mapping here:?https://sunzulab.com/publicationstype/the-complete-web3-ecosystem-mapping/
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The Week Ahead: ?
Wednesday May 22 2024
Thursday May 23 2024
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And in case you haven't seen, here is a selection?of our latest articles: