Major markets are in the red today, including bitcoin. Bitcoin's price has dropped to around $13,184, indicating a bearish signal. Ether options traders have shown a preference for calls over puts in the past month, suggesting a bullish sentiment for the cryptocurrency. The decline in bitcoin's price has been attributed to investors shedding higher-risk assets amidst concerns about the global economy and uncertainty surrounding the US presidential election.

May 05, 2024 at 03:05 am

Ethena Labs' USDe stablecoin has experienced rapid growth, but concerns arise regarding its resilience under market stress. While its yield mechanism resembles Terraform Labs' failed UST, Ethena's "synthetic dollar" model employs delta-neutral hedging to mitigate losses. However, negative funding rates and centralized counterparty risks pose challenges. Critics question the scalability and sustainability of USDe's growth given the finite size of the derivatives market and the lack of native yield on some collateral assets. Furthermore, Ethena's insurance fund and its interdependency with MakerDAO's DAI raise additional concerns. Despite these potential risks, experts maintain that the underlying trade is relatively safe under favorable market conditions.

Apr 16, 2024 at 06:30 am

Recent on-chain data reveals a significant movement of $105.9 million worth of 19 altcoins from FTX and Alameda wallets to two middle wallets. Notable tokens transferred include GT, LEO, and VIC, alongside $37.6 million in other assets. This strategic maneuver is believed to be related to FTX's efforts to repay creditors, as mandated by a recent court order.

Apr 04, 2024 at 06:20 am