Uniswap Topped Coinbase’s Trading Volume in March During USDC Depeg, U.S. Crackdown
The DEX, however, has been unable to maintain elevated periods of trading volumes in the past, CCData noted.
Markets
Bitcoin’s Tight Correlation With Nasdaq-SPX Ratio Muddies Safe Haven Narrative
Bitcoin continues to move in lockstep with the Nasdaq to S&P 500 ratio. The positive correlation suggests bitcoin is still a risk asset.
Jump in Shiba Inu Breed-Themed Tokens is Unsustainable, Warn Crypto Traders
Memecoins outperformed the broader crypto markets in recent days, but there may be cause for caution ahead as some warn of imminent profit-taking.
Bitcoin’s Spot-to-Derivatives Trading Volume Ratio Slides to Lowest in 11 Months
The decline indicates renewed risk appetite in the crypto market.
Dogecoin Futures Set Record After Twitter Adopts Shiba Inu Logo
Open interest, which can be used to determine market strength behind price trends, jumped to all-time highs in dogecoin terms.
Ethereum’s Shanghai Upgrade Could Bring $2.4B Selling Pressure to Ether: Observers
The 1 million instantly withdrawable ether has become a point of concern for the market.
Ether Rallies to 8-Month High, Gains Ground Against Bitcoin
“ETH looks to regain ground against BTC as part of a broader capital rotation play,” one observer said.
South Korean Traders Are Jumping on SXP, ICX Tokens
Trading volumes and prices for the two tokens have surged in the past few days on local exchanges.
Bitcoin Volatility Index’s Correlation With Price Flips Positive, Boosts Appeal of Bullish Call Options
It pays to be a call option holder when the implied volatility is rising along with the underlying asset’s price, crypto observers told CoinDesk.
U.S. Banking System Turmoil Has Spurred Bitcoin Outperformance: Coinbase
The cryptocurrency’s correlation to the S&P 500 stock index dropped to 25% at the end of March, the report said.