Crypto News
Bitcoin Market Could Heat Up as BTC Price Approaches $90K
As bitcoin's (BTC) recovery rally continues, $90,000 is now the key level where things could get interesting. The projection is based mainly on the current positioning of options market makers.Market makers, also known as dealers or MMs, are responsible for providing liquidity to the order book. They occupy the opposite side of investors' trades and work to maintain a market-neutral exposure by hedging in spot and futures markets. They make money off the difference between what they pay for an asset and how much they sell it for, known as the bid-ask spread.Deribit bitcoin options data tracked by Amberdata shows market makers are "short gamma" at the $90,000 strike. What that means is that as the bitcoin price moves closer...
DWF Labs Launches Massive $250M Liquid Fund for Growing Established Web3 Proposals
DWF Labs’ newest fund seeks to empower mid and large-cap projects with investments of up to $50 million to support a full ecosystem growth strategy, going beyond the proposals of other similar funds that are limited to just providing economic support. DWF Labs $250 Million Liquid Fund Seeks to Empower Medium and Large-Sized Web3 ProjectsSource link
Crypto Daybook Americas: Bitcoin Owners HODL as Sunny Second Quarter Nears
By Omkar Godbole (All times ET unless indicated otherwise)The sun shone on crypto markets early Wednesday, with bitcoin having another go at $88,000 amid growing chatter about bullish seasonality factors as March draws to a close and the second quarter looms.The last 10 years of price data tracked by analyst Miles Deutscher show April as the turning point for the market, with a 75% chance of upside between now and year-end. The pattern was noted by QCP Capital as well, which pointed to the second quarter, and April in particular, as bullish for crypto."The S&P 500 has delivered an average annualized return of 19.6% in Q2, while Bitcoin has also recorded its second-best median performance during this stretch - again,...
Polymarket Suffers UMA Governance Attack After Rouge Actor Becomes Top-5 Token Staker
A rogue actor operating from an Ethereum wallet 'BornTooLate.Eth' has engaged in a governance attack on UMA, a decision-making oracle used by Polymarket, to attack the outcome of a Ukraine-themed contract by becoming one of the largest holders of UMA tokens.UMA is a decentralized "optimistic" oracle protocol that resolves disputes in prediction markets by allowing UMA token holders to vote on contentious outcomes. It has faced its share of controversy for resolving disputed markets, such as Barron Trump's involvement in a Presidential meme coin, the nature of 'finding' the OceanGate submarine, and Venezuela's contested election, drawing criticism due to subjective decisions that frustrated certain market participants.On-chain data shows that BornTooLate.eth has approximately 1.3 million UMA tokens, making them a top-5...
Fidelity Investments Prepares to Unveil Its Own Stablecoin: FT
Fidelity Investments is in advanced stages of developing its own stablecoin, the Financial Times reported on Wednesday.The Boston-based financial services giant plans for the token to serve as a form of digital cash, according to the report, which cites two people close to the matter.The token would form part of company's strategy to enter the tokenized government bonds market. Stablecoins are a cryptocurrency whose value is pegged to a real-world asset such as the U.S. dollar or gold. They provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market.The news emerges just days after Fidelity filed paperwork to register a blockchain-based version of its U.S. dollar money market fund....