Bitcoin open interest goes meteoric; traders now warn of a ‘whipsaw’

Overleveraged traders feel the pain once again as volatility wipes out huge amounts of value in minutes. 4260 Total views 21 Total shares Bitcoin (BTC) crashing to $27,700 and rebounding seconds later was a shock for some and financial ruin for others, data shows.According to on-chain analytics resource Glassnode, futures traders with long positions lost…

Changpeng Zhao, CEO of top crypto exchange Binance, announced that the platform will launch futures trading in September.Zhao voiced this statement on Twitter during an “ask me anything” session on Aug. 28.According to Cointelegraph Japan, the company also “announced its focus on the staking business.”As Cointelegraph reported on July 2, Zhao revealed the company plans to…

The French government is reportedly planning to provide a legal framework for all “digital assets” providers, local news agency LesEcho.fr reported September 21.   Three members of President Emmanuel Macron’s party, La République En Marche (LREM), have proposed an amendment to French legislation for regulating all service providers in the crypto industry, sources told LesEcho.fr. The…

Multiple parties added capital to Endaoment, which aims to turn its ecosystem into a decentralized autonomous organization for donations — charity for the people. Opportunities for cryptocurrency usage have risen over the years as digital assets have become more well known. One operation, called Endaoment, is aiming to put charitable giving in the hands of…

Overstock’s tZERO platform has commenced trading Aspen’s digital security. Aspen (ASPD), the security token representing fractional ownership in the St. Regis Aspen Resort — a five-star 179-room hotel in Colorado, has commenced trading on the tZERO alternative trading system.The news marks the first Tezos (XTZ)-based security token to be listed on a regulated platform. ASPD…

In a Jan. 27 post, Dragonfly Research proclaimed Plasma to be dead, noting that the Ethereum (ETH) community is converging on Optimistic Rollup, despite initial enthusiasm. The news comes in stark contrast to earlier claims by Plasma Group arguing that the technology was moving into production phase.The history of PlasmaThe original paper detailing the Plasma…

The cryptocurrency community is no stranger to accusations of crypto being a bubble. As far back as 2014, media pundits were referring to the bursting of the Bitcoin (BTC) bubble, with a Financial Times article from September of that year even containing the ill-fated prediction, "We’re going to stick our neck out at this stage…

Arbitrage bots are being widely used for manipulative profit-making strategies on decentralized exchanges (DExes), a study from researchers at Cornell Tech has claimed. The news was reported by Bloomberg on April 15.The paper documents and gauges the breadth and specific characteristics of bot-executed market manipulation, which the researchers argue has developed blockchain-specific elements that undermine…