Wednesday, November 20, 2024
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Read on! | | | What is Maple Finance, and how does it consistently provide high yields in DeFi through Syrup?
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BTC Squeeze Soon? 📈📉
The debut of options tied to BlackRock's IBIT Bitcoin ETF saw nearly $2 billion in notional on its first day of trading.
354,000 contracts were traded, with the majority being call options. This highlights the bullishness of the market on Bitcoin, and the new all-time highs being set by it. The new IBIT options give investors more ways to implement trading strategies such as hedging, speculating, or generating income.
This can potentially increase market liquidity and transform market dynamics without having to own Bitcoin. Grayscale is set to follow in BlackRock's footsteps and will launch options trading for its Grayscale Bitcoin Trust (GBTC) and Bitcoin Mini Trust (BTC).
Editor's Note:
A "call" in an option contract gives the right to its holders to purchase a security (in this case, Bitcoin) at a predetermined price, known as the strike price. Each contract can be exercised or traded within a set period, known as an expiration date. "Put" options, on the other hand, act as protection against price declines or a way to speculate on them, allowing the holder to sell at the strike price if it is higher than the market value. | | | Ever wondered if someone could guess or crack your seed phrase, perhaps with a computer? Watch this video to find out. | | |
The Michael Saylor Playbook 📖 Marathon Digital plans to issue $850 million in convertible notes, with the option to expand to $1 billion. This will be used to repurchase $212 million of existing debt, acquire Bitcoin, and fund corporate initiatives.
Of the $833 million net proceeds expected from the convertible note sale, $199 million will be allocated to address debt. The Bitcoin miners will use the remainder to acquire Bitcoin. The notes will mature in 2030, and can be converted into cash or stock, and repurchased from December 2027. This move aligns with rising institutional Bitcoin adoption as it continues to rally. | | | What are tokenized assets? Learn why financial institutions are investing in tokenization and how it will bring efficiency, security, and global liquidity to financial markets, paving the way for wider adoption of blockchain and cryptocurrency.
| | | In Other News... DAI Issuer MakerDAO Now on Solana. MakerDAO, who has since rebranded as Sky, will launch their stablecoin on Solana with the ticker USDS, which is replacing DAI.
Wrapped Bitcoin, wBTC, Delisted on Coinbase. The crypto exchange clarified that the delisting was due to concerns related to "listing standards." Notably, Coinbase currently offers a competitor to wBTC called cbBTC.
More Tokenized Money Market Funds. Crypto exchange Archax will offer tokenized funds from State Street, Fidelity International and LGIM. The funds will be live on Hedera Hashgraph, XRPL and Arbitrum.
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