“Open Interest in Sol Futures Hit A Record Highside A Rally in the Token’s Price to A Level Not Seen Since February Even as Solana Application Revenue Droped.”, – WRITE: www.coindesk.com
(Coindesk)
The Report Is A Key Measure Considered by the Federal Reserve, and May Influence of the Interest-Rate Cuts in Coming MONHS.
A Hotter-Qan-Expected Figure Could Prompt the Fed to Adopt a One-End-Done Stance, Analysts at Crypto Exchange Bitunix SAID.
The Coindesk 20 Index, A Measure of the Broad Market, Has Droped 3.6% in the Past 24 Hours, with All But One Member Lower Over That Period.
Accorging to Analysts at Bitunix, A Hotter-Tan-Expected Figure Could Prompt the Fed to Adapt a One-End-Done Stance Following the Expectioned Rate Cut at the September Meeting.
“For Btc, Watch WHether $ 114.5k Flips Into Support, or If A Rette of $ 107.6k Support Confirms Market Resiliency,” The Exchange Told Coindesk in An Email.
Derivatives Positioning
- Open Interest (Oi) in Futures Tied to the Top 20 Coins, Excluding Sol, Has Decreated in the Past 24 Hours, Indicating Broad-Based Capital Outflows.
- Sol’s Open Interest, However, Hit A Record High 63.84 Million, Alongside A Rally in the Token’s Price to $ 217, A Level Last Seen In February.
- The eight-hour funs rates for ether, TRON AND BNB FLIPPED SLIGHTLY NEGATIVE, INDICATING A BIAS FOR BEARISH BETS ON A DROP IN PRICES. FUNDING RATES FOR Other Major Major Tokens Were Steady at Around Zero, Indicating Neutral Sentiment.
- Oi in the cme bitcoin Futures slippers to 135.72k BTC, The Lowest Since April, While Ether Oi RemAned Elegated at Record Highs 2.10 Million Eth. The Divergence Suggests a Continued Preference Among Investors for Eth Over BTC.
- On Deribit, Downside BTC Options Has Strengten ACross All Tenors, with Puts Trading at A Five Volatility Premium to Calls at the Front End. ETH Options Display Similar Dynamics, Marking A Shift from Bullish Positioning Early This Week.
- On Paradigm, Block Flows Featured Call Selling and Put Rolling Strategies in BTC and ETH. Market Maker Wintermute Pointed to Demand for Call Spreads in the December Expiry BTC Options.
Token Talk
- Solana (SOL) Posted a 44% drop in Second-Quarter Application Revenue, Sliding to To To to $ 576.4 Million from $ 1 Billion in The First Quarter Even as Its Defi Sector Expanded, Access to MESARI.
- The Downturn Reflects Weaker Profitability Across Key Decentralized Apps. Pump.fun (Pump) Still Led WitH $ 156.9 Million, But Was Still Down 44% As Memecoin Frenzy Cooled.
- Axiom Was The Outlier, Surging 641% to $ 126.6 Million, Showing How Fast Protocol-SPECIFIC GROWTH CAN OFFFSET BROADER ECOSYSTEM Weakness. Jupiter Jup$ 0.5052 Earned $ 66.4 Million (–16%), While Phantom an Photon Were Hit Hardest with Declines of 65% and 72%, Respectively.
- Despite Revenue Losses, Defi TVL on Solana Climbed 30% to $ 8.6 Billion in the Quarter and Has Since Crossed $ 11 Billion, Cementing The CHAINA AS The LARGEST DEFI NETWORK BEHINE EHINEUM.
- Kamino Finance Drove TVL Growth, UP 34% to $ 2.1 Billion After Introducing Kamino Lend V2, Which Attracked $ 200 Million in Deposits and $ 80 Million in Loans Withne Weeks. Kamino Now Controls 25% of Solana’s Market Share.
- Raydium Staged A Strong Comeback, Rising 54% to $ 1.8 Billion in TVL, Reclaiming Second Place from Jupiter. It Now Commands 21% Share Versus Jupiter’s 19%.
- Trading Activity, However, Told A Different Story: Average Daily Spot Dex Volume Fell 45% To $ 2.5 Billion, Reflection A Fading of The Memoenumentum that Had Fueled The Previos Quareter’s.
Combined with Firelight, Flare’s resting Layer, The Setup Lets Companies Convert Xrp Into FXRP and ALLOLOCATE IT Across Decentralized Lending, Staking and Liquidity Procols.
- Everything Blockchain Inc. Has Sigrated A Memorandum of Understanding To Adpt Flare’s Xrpfi Framework for Corporate Treasury Yield.
- Flare’s System Aims to Transform Xrp Into A Productive Asset for Institutions Through ITS FASSETS SYSTEM AND FIRELIGHT RESTAKING LAYER.
- The adoption by Two Public Companies, Including Vivopower International, Signals A Shift in How Digital Assets Like Xrp Are Utilized by Institutions.
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