Traders Ditch USDT on Curve, Uniswap, Pushing Key Exchange Pools Into Imbalance
Similar imbalances happened when Terra imploded in May 2022 and after the Silicon Valley Bank crisis hit USDC issuer Circle in March.
Markets
South Korean Exchange Upbit Surpasses Coinbase, OKX in July Trading Volume to Take No. 2 Spot for First Time
The exchange bucked the general market trend that saw a decline in trading volume for most centralized exchanges.
Bitcoin ETF Approval Odds Just Got Better: Bloomberg Analysts
“The odds of a spot Bitcoin ETF launching this year are up to 65%, in our eyes, after a flurry of developments,” analysts James Seyffart and Eric Balchunas wrote. They previously assigned a 50% probability.
Bitcoin Has Been More Stable Than Gold and Stocks; Violent Price Action Could Ensue
Prior uneventful periods preceded major eruptions in volatility for BTC’s price, crypto analytics firm K33 Research noted.
DCG Says It Sees Resolving Genesis Chapter 11 Bankruptcy Soon
Digital Currency Group comments on the restructuring in an investor letter.
Bitcoin Won’t Be Stuck Below $30K for Long, Crypto Options Traders Bet
BTC losing the significant price level after a month is likely just a short-term deviation based on derivatives trading data, SynFutures CEO said.
First Mover Americas: Grayscale Urges SEC for Equal Treatment of Spot Bitcoin ETF Applications
The latest price moves in bitcoin (BTC) and crypto markets in context for July 28, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitcoin Bulls Should Switch to Call Options, Crypto Services Provider Matrixport Says
Lower volatility has made option prices cheaper, Matrixport’s Markus Thielen said.
Bitcoin May Reach $300K by 2028 Halving, Says $1.6B Asset Manager
The Morgan Creek Capital Management founder said that bitcoin will reach $300,000 by Bitcoin’s 2028 halving.
MakerDAO Looks to Ignite Growth for $4.6B DAI Stablecoin With Up to 8% Reward
The circulation of Maker’s DAI stablecoin has shrunk by a third over the past year.