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☆ Over $2.8 billion bet on bitcoin topping $90,000 as it hits all-time high
▼ + stars: | 2024-11-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Open interest in bitcoin's price surpassing $90,000 rose to more than $2.8 billion on the popular Deribit derivatives exchange, one of a few crypto native platforms that offers futures trading. "The options market's bias is heavily toward continued momentum. Call options trade at a premium to puts, and open interest in out-of-the-money calls has grown," Vetle Lunde, head of research at K33 Research, told CNBC. The CME derivates exchange offers bitcoin futures contracts and is a popular way for institutions in the U.S. to make bets on the future price of bitcoin. Velde told CNBC that on Friday CME premiums for ether and bitcoin averaged 14.5% and 14%, respectively.

Persons: Bitcoin, Vetle Lunde, Velde Organizations: K33 Research, CNBC Locations: U.S, Velde

☆ I live without sunlight for months in the northernmost town on Earth. Here's what a day in my life looks like.
▼ + stars: | 2024-01-30 | by ( Eveline Lunde | ) www.businessinsider.com time to read: 1 min

On the way, I watch out for Arctic wildlife on the streets. I saw some reindeer on my way to work. Eveline LundeLongyearbyen is a relatively small town so you can pretty much walk everywhere. The Svalbard reindeer, which are short-legged and have relatively fat bodies, are well adapted to the harsh climate. It's normal to see them around town because they don't have any natural enemies and aren't usually afraid of people.

Persons: Eveline Lunde

☆ Cryptoverse: Winter is coming as ether funds flounder in fall
▼ + stars: | 2023-10-17 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +4 min

"The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. Trading volumes of six exchange-traded funds tracking ether made a subdued start after launching on Oct. 2BACK TO BITCOIN? The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares (EETH.P), VanEck and Bitwise (AETH.P), have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether (BTF.O).

Persons: Bitcoin, Dado, Vetle Lunde, murkier, Lunde, Ben McMillan, McMillan, Bitwise, IDX, Lisa Pauline Mattackal, Sumanta Sen, Tom Wilson, Pravin Organizations: REUTERS, K33 Research, IDX, Federal, Chicago Mercantile Exchange, Thomson, Reuters Locations: Ukraine, ProShares, Bengaluru

Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData. Among major players, for example, solana , polygon and cardano have sunk between 23% and 32%. Bitcoin and ether weren't named in the SEC's lawsuit, nor were stablecoins such as tether and USC Coin. By contrast, bitcoin investors who have held their coins for more than five months appeared relatively calm and accounted for just 1.9% of deposit volume. Investment products tracking altcoins have seen positive - albeit small - net inflows this year, in contrast to bitcoin and ether, Coinshares data showed on Monday.

Persons: Vetle Lunde, Ryan Rasmussen, solana, Lucas Kiely, Alex Thorn, Noelle Acheson, James Butterfield, Lisa Mattackal, Medha Singh, Pravin Organizations: U.S, SEC, K33 Research, solana, Securities, Bitwise Asset Management, Reuters Global Markets, Cardano Foundation, Solana Foundation, Reuters, Polygon Labs, Reuters Graphics Reuters, USC, BTC, ETH, Firmwide Research, Galaxy Digital, Pravin Char, Thomson Locations: cardano, altcoins, Bengaluru

REUTERS/Benoit Tessier/File PhotoFeb 21 (Reuters) - The world of stablecoins is suddenly looking shaky. "There's way too much demand for dollar-based stablecoins for them to go away," said Alex Miller, CEO at bitcoin developer network Hiro. Market leader tether (USDT) has been a big beneficiary, adding $1.9 billion to its market capitalization to hit $70.3 billion since the news. It now commands 52.6% of the stablecoin market, up from just over 51%. Traders also use these tokens to hedge their positions, and hence dwindling market value is associated with falling liquidity and leverage in the broader crypto market.

☆ Cryptoverse: Bitcoin digs in for a bumpy new year
▼ + stars: | 2023-01-10 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +4 min

[1/2] Bitcoin are seen in this illustration picture taken September 27, 2017. The overall global crypto market cap has risen 5% to $871 billion since Jan. 1, but it's still down over 57% from this time last year. Bitcoin itself has gained 4.3% since the start of 2023, though stuck in a narrow range between $16,500 and $17,300. For some market players, though, subdued sounds pretty good after the bitcoin bloodbath of 2022. Reuters GraphicsTHE BULL'S TALEMarcus Sotiriou, analyst at digital asset broker GlobalBlock, pointed to tightening Bollinger bands - a technical indicator tracking price and volatility - on bitcoin charts.

Nov 10 (Reuters) - Trading volumes in bitcoin futures and exchange traded funds (ETFs) has exploded as investors scrambled to hedge their positions after this week's slump in digital tokens triggered by turmoil at crypto exchange FTX. CME bitcoin futures November contracts traded at $17,250, with a volume of 13,292 at 11:24 a.m. EST (1624 GMT), which was a 3% discount to the spot price of $17,770. Trading volumes soared on Tuesday and Wednesday as FTX's woes worsened, touching 48,554 and 32,168 contracts respectively, significantly higher than volumes over the past two months which hovered between 4,902 and 27,309. The ProShares short bitcoin strategy ETF (BITI.P), a bearish play on CME bitcoin futures, witnessed record trading volume on Wednesday as investors hunted for "regulated, transparent futures market," ProShares Global Investment Strategist Simeon Hyman said. Meanwhile, ProShares Bitcoin Strategy ETF (BITO.P), which was halted for trading on Wednesday, has witnessed a 300% jump in trading volume in the from its previous high on October 21, 2022.

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