Everything web3, crypto, defi, degen
In brief Implied volatility remains low despite Bitcoin’s dip following a wipe out $1.65 billion in long positions across the crypto markets. Put-buying activity shows options traders are expecting further downside this month. Long-term positioning over the next three to six months remains bullish. Bitcoin extended weekend losses on Monday, triggering one of the largest…
In brief Crypto industry veteran Michael Alfred is joining the board of Bakkt, a provider of digital asset services. The company’s share price jumped more than 40% on the day. Bakkt has been looking to reposition itself in recent months, including with plans for a potential Bitcoin treasury. Bakkt Holdings’ share price jumped past analysts’…
In brief September got off to a hot start, but the seasonal “Red September” curse might now be kicking in. Bitcoin is now just 4% away from marking another down month in September, historically the worst month of the year for markets. Myriad prediction market users remain somewhat bullish, but the charts paint a less…
In brief Helius Medical Technoligies (HSDT) shares are down more than 16% on Monday. The firm announced it acquired 760,190 SOL in its first Solana acquisitions, valuing its treasury at $168 million. It maintains an extra $335 million in cash, which it will ultimately use to bolster its treasury. Shares in medical device and neurotech…
In brief BitMine Immersion now holds 2% of the total ETH supply following its latest buy. The Nasdaq-listed Bitcoin miner pivoted to a Ethereum-buying strategy in May. Its stock was trading lower on Monday following the ETH buy and a stock sale. Nasdaq-listed Bitcoin miner BitMine Immersion bought more Ethereum last week, bringing its total…
In brief Bitcoin and Ethereum ETFs attracted $1.9 billion in net inflows last week, driven by investor optimism following the Federal Reserve’s first rate cut of the year. BlackRock’s iShares Bitcoin Trust dominated with $866 million in deposits, while XRP and Solana ETPs also saw strong demand at $69.4 million and $127.3 million respectively. Despite…
In brief Shares of Strategy are down slightly Monday as the firm announced its latest Bitcoin purchase. It added 850 BTC for around $100 million last week, boosting its holdings above $72 billion. Analysts at TD Cowen still see the stock as a buy, with a price target of $620. Shares of leading Bitcoin treasury…
In brief Bitcoin mining firm AgriFORCE Growing Systems announced plans to begin an Avalanche treasury. The firm’s stock price skyrocketed following the announcement, rising over 200% on the day at one point. AgriFORCE is raising $300 million via a PIPE led by HiveMind Capital, and has added Anthony Scarmucci to its advisory board. The crypto…
In brief The crypto market retreated sharply Monday morning, with the total market cap dropping to $3.98 trillion. More than 390,000 traders were liquidated, with longs making up the bulk of the $1.68 billion in losses. Dogecoin dropped by 10%, leading losses among the top 10, while Bitcoin held relatively firm in comparison to altcoins…
In brief Hyperliquid’s HYPE token is down double digits over the weekend and another 7.4% today. Whales selling ahead of HYPE’s token unlock and profit-taking are key reasons for the recent drop, experts suggest. As competition heats up among decentralized exchanges, DEX tokens such as Aster, STBL, and Avantis have surged over the weekend. Hyperliquid’s…
