Now, hold onto your hats: Bitcoin’s hanging in there at $112,226 with a 24-hour trading volume of $33.73 billion. It managed a modest 0.92% bump yesterday. You know, like when you try to make a salad and end up adding too much dressing. Ethereum’s doing its thing too, creeping up by 0.74%, bringing it to $4,334.15 with $26.30 billion in volume. So yeah, it’s like a family reunion where everyone’s just… showing up. 🙃
Bitcoin, that fickle siren, climbed 1.4% to over $112,600, its rally fueled by the voracious appetite of institutions. Yet, let us not forget the sell pressure from large holders, who, like wary merchants, seek to lighten their burdens. 📈
With a flourish, Grayscale has submitted its petition to the U.S. Securities and Exchange Commission (SEC) to transform its existing Chainlink Trust into a spot exchange-traded fund. The transformation, should it be blessed by the SEC, would allow the ETF to trade on NYSE Arca under the charming ticker GLNK, as per a Monday S-1 registration statement.
The recent drop from Bitcoin’s all-time highs has failed to dampen the spirits of the derivative markets on Binance – the world’s largest cryptocurrency exchange. This, dear reader, is a key indicator of Bitcoin’s growing influence in global finance, as its futures contracts on Binance have surged to levels never before seen. How quaint, a digital asset usurping traditional markets. 👀
Somnia [SOMI] has shot up 316% from its September 4th low of $0.38. That’s like turning a lemonade stand into a Fortune 500 company in a week. This wild ride kicked off after SOMI got listed on Binance, Bybit, and Bitget – the crypto equivalent of hitting the big leagues. 🏆
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By Shayan (whoever he is; likely someone with far too much time on his hands).
The grand chorus of Galaxy Digital, Jump Crypto, and Multicoin Capital led this banquet of capital. Even C/M Capital Partners, a major shareholder, threw its lot into the fiery furnace. All to birth a Solana treasury strategy, as if planting a tree in the digital desert, hoping for shade someday.
So, Ethereum is basically a tightrope walker right now, and the safety net is looking a bit frayed. If the bulls can’t hold the line, we’re in for a wild ride. 🪜
Backpack Exchange, with its grand vision and unwavering resolve, is now paving the way for a new dawn in the world of crypto derivatives. It’s not just about trading anymore; it’s about revolutionizing the very fabric of how we perceive financial freedom. 🌈🌐