Hyperliquid flips Ethereum in 7-day revenues
The world of cryptocurrency is constantly evolving, with new technologies and platforms emerging to meet the growing demand for digital assets. One such platform that has been making waves in the industry is a new layer-1 network that is focused on derivatives trading. This network has been gaining traction and is quickly becoming a popular choice for traders and investors alike.
Unlike traditional cryptocurrencies, which are primarily used for buying and selling, this new network is specifically designed for derivatives trading. This means that users can trade contracts based on the value of underlying assets, such as stocks, commodities, and currencies. This opens up a whole new world of possibilities for traders, allowing them to diversify their portfolios and potentially increase their profits.
While this new network is gaining momentum, Ethereum, one of the leading cryptocurrencies, is facing a sharp decline in revenue. This is due to the increasing popularity of the new layer-1 network, which offers lower fees and faster transaction times. As a result, many traders and investors are turning to this new platform, causing a decline in Ethereum’s revenue.
This shift in the market is a clear indication of the growing demand for more efficient and cost-effective trading platforms. The new layer-1 network is not only providing traders with a better alternative to Ethereum, but it is also paving the way for the future of derivatives trading in the cryptocurrency world.
With its focus on derivatives trading and its growing popularity, this new layer-1 network is set to revolutionize the way we trade digital assets. Its advanced technology, lower fees, and faster transaction times make it a strong contender in the competitive world of cryptocurrency. As more and more traders and investors flock to this platform, it is clear that it is here to stay and will continue to shape the future of cryptocurrency trading.
Cboe to launch 24-hour stock trading
As the world of cryptocurrency continues to evolve and gain mainstream acceptance, traditional exchanges are feeling the pressure to keep up with the ever-changing landscape. One of the latest trends in the crypto world is 24/7 onchain trading, which allows for round-the-clock trading of digital assets. This has sparked a race among traditional exchanges to extend their trading hours and cater to the growing demand for non-stop trading.
The rise of 24/7 onchain trading can be attributed to the decentralized nature of cryptocurrencies. Unlike traditional markets, which are limited by geographical boundaries and time zones, the crypto market operates 24 hours a day, 7 days a week. This means that traders can buy and sell digital assets at any time, without having to wait for the opening hours of a traditional exchange.
In response to this growing trend, traditional exchanges are now looking to extend their trading hours to stay competitive. By doing so, they hope to attract more traders and increase their market share in the fast-paced world of cryptocurrency. This move also reflects the increasing demand for digital assets, as more and more investors are turning to cryptocurrencies as a viable investment option.
However, extending trading hours is not without its challenges. Traditional exchanges must ensure that their systems can handle the increased volume of trades and maintain the same level of security and reliability. They also need to consider the impact on their staff and resources, as extended trading hours may require additional manpower and resources.
Despite these challenges, the push for 24/7 onchain trading is a clear indication of the growing popularity and acceptance of cryptocurrencies. As traditional exchanges adapt to this new trend, it is clear that the world of finance is changing, and digital assets are here to stay. So whether you’re a seasoned trader or a curious investor, get ready for non-stop trading as the crypto market continues to evolve and expand.
Is the Bitcoin bottom in? BTC derivatives point to limited price downside
According to recent data on Bitcoin derivatives, it seems that the cryptocurrency has hit its bottom and is now on the path to recovery. However, despite this positive news, there are still some concerns among investors that could potentially hinder its growth beyond the $100,000 mark.
The latest data on Bitcoin derivatives, which are financial instruments that allow investors to speculate on the price movements of the cryptocurrency, show that the market sentiment has shifted from bearish to bullish. This is a promising sign for Bitcoin, as it indicates that investors are becoming more confident in its potential for growth.
One of the key indicators of this shift is the decrease in the number of short positions, which are bets that the price of Bitcoin will decrease. This decline in short positions suggests that investors are no longer expecting a further drop in the price of Bitcoin, and are instead starting to bet on its rise.
However, despite this positive trend, there are still some concerns among investors that could potentially limit the growth of Bitcoin beyond the $100,000 mark. One of the main concerns is the fear of a potential market crash, which could be triggered by external factors such as government regulations or a global economic downturn.
Another concern is the volatility of Bitcoin, which has been a major factor in its price fluctuations. While volatility can lead to significant gains, it can also result in significant losses, making some investors hesitant to fully commit to the cryptocurrency.
Despite these concerns, many experts believe that Bitcoin has strong potential for growth in the long term. With more institutional investors entering the market and increasing adoption of Bitcoin as a payment method, the future looks bright for this digital currency.
In conclusion, while the data on Bitcoin derivatives suggests that the bottom is in and a recovery is on the horizon, investors’ fears and concerns could potentially limit its growth beyond $100,000. However, with the increasing confidence in Bitcoin and its potential for long-term growth, it is clear that this cryptocurrency is here to stay.
Trump names Treasury Sec as acting CFPB head after firing predecessor
Scott Bessent, the newly appointed US Treasury Secretary, has already made a significant move in his short time in office. In addition to his duties as Treasury Secretary, Bessent will also serve as the acting director of the Consumer Financial Protection Bureau (CFPB). This decision has sparked both praise and criticism from various groups.
Bessent, a former hedge fund manager and close ally of former President Donald Trump, was sworn in as Treasury Secretary just last week. His appointment was met with mixed reactions, with some praising his financial expertise and others expressing concerns about his ties to the previous administration.
Now, with the added responsibility of leading the CFPB, Bessent’s actions will be under even more scrutiny. The CFPB, created in the aftermath of the 2008 financial crisis, is responsible for protecting consumers from unfair and deceptive financial practices. It has been a key player in enforcing regulations and holding financial institutions accountable.
Bessent’s appointment as acting director of the CFPB has raised questions about his qualifications and potential conflicts of interest. Some argue that his lack of experience in consumer protection and his ties to the financial industry make him unfit for the role. Others believe that his financial background will bring a fresh perspective to the agency.
Regardless of opinions, Bessent’s dual role as Treasury Secretary and acting director of the CFPB will undoubtedly have a significant impact on the financial landscape. It remains to be seen how he will balance these responsibilities and what changes he may bring to the CFPB. As the agency continues to play a crucial role in protecting consumers, all eyes will be on Bessent and his actions in the coming months.
Price analysis 2/3: SPX, DXY, BTC, ETH, XRP, SOL, BNB, DOGE, ADA, LINK
The cryptocurrency market has been on a rollercoaster ride lately, with Bitcoin and other altcoins experiencing significant price fluctuations. However, despite the volatility, there seems to be a strong demand for these digital assets, as evidenced by the recent bounce back in prices.
Bitcoin, the leading cryptocurrency, has been the center of attention in the market. After reaching an all-time high of over $64,000 in mid-April, it experienced a sharp decline, dropping to around $30,000 in just a matter of weeks. This sudden drop caused panic among investors, with many fearing that the bull run was over.
But just when things seemed bleak, Bitcoin and select altcoins bounced back with a vengeance. This rebound not only surprised many but also indicated a solid purchasing demand at lower levels. It seems that investors saw this dip as an opportunity to buy these digital assets at a discounted price, leading to the market’s swift recovery.
This bounce back in prices also highlights the resilience of the cryptocurrency market. Despite facing challenges and criticism, it continues to attract investors and gain mainstream adoption. This is evident in the growing number of companies and institutions that are now accepting Bitcoin and other cryptocurrencies as a form of payment.
Moreover, the recent market rebound has also reignited the debate about the potential of cryptocurrencies as a hedge against inflation and economic uncertainty. With governments around the world printing money and increasing debt, many see Bitcoin and other digital assets as a way to protect their wealth and diversify their investment portfolios.
In conclusion, while the cryptocurrency market may be volatile, the recent bounce back in prices shows that there is a strong demand for these digital assets. As the market continues to evolve and gain mainstream acceptance, it will be interesting to see how it performs in the long run.
Trump-backed World Liberty Financial denies token sales
World Liberty Financial, a leading investment firm, has recently announced their impressive crypto holdings, which are currently valued at a staggering $373 million. This news has sent shockwaves through the financial world, as the company’s investments in the cryptocurrency market continue to grow and thrive.
With a diverse portfolio, World Liberty Financial has strategically invested in various cryptocurrencies, including major stakes in Ether and Wrapped Bitcoin. These two digital assets have been gaining significant traction in the market, with Ether being the second-largest cryptocurrency by market capitalization and Wrapped Bitcoin being a popular tokenized version of the original Bitcoin.
The company’s decision to invest in these cryptocurrencies has proven to be a wise one, as both Ether and Wrapped Bitcoin have seen significant growth in recent months. This has not only resulted in a substantial increase in the value of World Liberty Financial’s holdings but has also solidified their position as a major player in the crypto market.
But what sets World Liberty Financial apart from other investment firms is their forward-thinking approach to the ever-evolving world of cryptocurrency. They have not only recognized the potential of digital assets but have also actively embraced and invested in them, positioning themselves as pioneers in this rapidly growing industry.
In addition to their impressive crypto holdings, World Liberty Financial also offers a range of services and solutions for individuals and businesses looking to enter the world of cryptocurrency. From investment advice to portfolio management, their team of experts is dedicated to helping clients navigate the complex and exciting world of digital assets.
As the cryptocurrency market continues to gain mainstream acceptance and adoption, World Liberty Financial’s impressive holdings and expertise make them a force to be reckoned with. With their finger on the pulse of the industry, they are well-positioned to capitalize on the potential of this rapidly growing market.
Crypto broker Uphold relaunches UK staking, India reconsiders crypto policy: Law Decoded
Uphold, a leading digital currency platform, has announced the resumption of staking services in the United Kingdom following recent regulatory changes. This move comes as a relief to UK customers who were previously unable to participate in staking due to regulatory uncertainties.
Staking, also known as proof-of-stake, is a process where users lock up their digital assets to support the operations of a blockchain network and earn rewards in return. Uphold offers staking services for various cryptocurrencies, including Ethereum, Tezos, and Cosmos.
The UK Financial Conduct Authority (FCA) recently implemented new regulations for the cryptocurrency industry, requiring all crypto businesses to register with the agency and comply with anti-money laundering and counter-terrorism financing measures. Uphold has successfully registered with the FCA, allowing them to resume staking services for UK customers.
In other news, India, one of the world’s largest economies, has signaled a potential shift in its stance towards cryptocurrencies. The country’s finance minister, Nirmala Sitharaman, stated that the government is open to exploring the use of blockchain technology and digital currencies in a “calibrated” manner. This statement comes as a surprise to many, as India has previously taken a hard stance against cryptocurrencies, even considering a ban on their use.
Meanwhile, Kraken, a popular cryptocurrency exchange, has announced its plans to delist Tether (USDT) in Europe. USDT is a stablecoin that is pegged to the US dollar and is widely used in the crypto market. Kraken cited regulatory concerns as the reason for the delisting, as USDT has faced scrutiny for its lack of transparency and potential market manipulation.
These recent developments in the cryptocurrency industry highlight the growing importance of regulatory compliance and the need for clear guidelines from governments. Uphold’s resumption of staking services in the UK, India’s potential policy shift, and Kraken’s delisting of USDT all demonstrate the impact of regulatory changes on the crypto market. As the industry continues to evolve, it is crucial for businesses and governments to work together to create a safe and transparent environment for the use of digital currencies.
Kraken secures MiFID license to offer derivatives in Europe
Kraken, one of the leading cryptocurrency exchanges, has recently made a major move that will expand its services and offerings to customers in the European Union. The exchange has acquired a license that allows it to offer derivative products to its users, making it the first cryptocurrency exchange to do so in the EU.
This acquisition is a significant milestone for Kraken, as it not only strengthens its position in the market but also opens up new opportunities for its customers. Derivative products, such as futures and options, allow traders to speculate on the price movements of cryptocurrencies without actually owning them. This can be a valuable tool for investors looking to diversify their portfolios and manage risk.
With this new license, Kraken will be able to offer a wide range of derivative products to its EU customers, including perpetual swaps, futures contracts, and more. These products will be available for popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, providing traders with more options and flexibility in their trading strategies.
But what sets Kraken apart from other exchanges is its commitment to regulatory compliance. The exchange has always prioritized following regulations and obtaining proper licenses, which has earned it a reputation for being a trustworthy and secure platform. This latest acquisition is a testament to Kraken’s dedication to providing its customers with a safe and compliant trading environment.
In addition to offering derivative products, Kraken also plans to expand its services in the EU by launching a new mobile app and introducing new features, such as staking and margin trading. These developments will further enhance the trading experience for its users and solidify Kraken’s position as a top cryptocurrency exchange in the region.
Overall, Kraken’s recent acquisition is a game-changer for the cryptocurrency industry in the EU. It not only showcases the exchange’s commitment to innovation and compliance but also provides traders with more opportunities to diversify and grow their investments. As the market continues to evolve, Kraken is well-positioned to lead the way and provide its customers with cutting-edge products and services.