Crypto Shuttle News

Tag: Trading

  • Massive Prize Pool of Two Million wLITI on HitBTC Trading Contest | by Bit Media Buzz | Aug, 2021

    Massive Prize Pool of Two Million wLITI on HitBTC Trading Contest | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    Liti Capital SA is pleased to announce the wLITI trading contest with a prize pool of 2,000,000 wLITI tokens which will take place from Aug 19sth, 2021 for two weeks.

    wLITI is an ERC-20 litigation finance token that is the wrapped version of the Swiss equity token — the LITI token — a true digital share of Liti Capital that has voting rights, pays dividends and is protected under Swiss law. By wrapping its LITI Token, Liti Capital has given retail traders a utility token that is a wrapped version of an asset-backed equity token.

    How to participate?

    Trade wLITI on HitBTC during the contest period. Then sit back, relax and wait until the end of the contest to see if you won. Users will be ranked on their buy and sell trade volumes during the contest period.

    Prizes and Positions

    1st position — 600,000 wLITI

    2nd position — 400,000 wLITI

    3rd position — 300,000 wLITI

    4th position — 200,000 wLITI

    5th position — 100,000 wLITI

    Position 6–10th — 80,000 wLITI for each trader

    Trading contest link: https://hitbtc.com/trading-contest/122

    Currently the wLITI price is on an upward trend according to the Coinmarketcap price chart. At the current price of $0.04809 the prize pool is more than USD95,000!

    About Liti Capital SA

    Liti Capital works exclusively in a single form of private equity — Litigation Finance, also called third party funding. Litigation Finance is the practice of financing all or part of a legal case on behalf of a plaintiff for an agreed upon percentage of the court award. The portion owned by Liti Capital becomes a “litigation asset” that backs the LITI token.

    This asset class has remained almost entirely exclusive to hedge funds and venture capitalists since its inception several decades ago. Liti Capital is offering a new way to get retail traders involved in this asset class, by tokenizing its equity.

    For project information, please read the Whitepaper.

    For token distribution, please read Tokenomics.

    Liti Capital Website: https://liticapital.com

    Liti Capital Telegram: https://t.me/Liti_Capital_Official

    Liti Capital Telegram Announcements: https://t.me/Liti_Capital_Official_ANN

    Liti Capital LinkedIn: https://www.linkedin.com/company/liti-capital

    Liti Capital Twitter: https://twitter.com/liticapital

    Liti Capital Medium: https://medium.com/@liticapital

    Liti Capital Reddit: https://www.reddit.com/r/liticapital



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  • Ethereum CME Open Interest, Why Trading Volume Ballooned

    Ethereum CME Open Interest, Why Trading Volume Ballooned

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    Ethereum has been slowing down on its bullish momentum. The second cryptocurrency by market cap trades at $3,066 with a 4.2% loss in the daily chart.

    Ethereum ETH ETHUSD
    ETH moving sideways in the daily chart. Source: ETHUSD Tradingview

    After two weeks of profits and an incredible rally from the low at $2,000, mostly driven by the implementation of EIP-1559, Ethereum could see some downside in the short term.

    The In/Out of the Money Around Price (IOMAP) metric, used to measure the average purchase price of a crypto asset and compared it to its current price, from IntoTheBlock suggests Ethereum sits at “stable support”.

    Analyst Ali Martinez shared the chart below and indicated that over 230,000 addresses bought 7,33 million ETH between $2,970 and $3,080. Thus, ETH’s price must hold above these levels to prevent a bearish trend in the short term. Martinez added:

    Any downswing below this price range could encourage investors to book profits quickly before their investments go “Out of the Money.”

    Ethereum ETH ETHUSD
    ETH’s price IOMAP. Source: IntotheBlock via Ali Martinez

    One of the key drivers for Ethereum has been institutional adoption that sees great potential in its ecosystem. Additional data provided by Arcane Research suggests adoption is still on the rise with ETH-based derivatives on the rise.

    The research firm has recorded an increase in open interest (OI) for Ethereum futures on the Chicago Mercantile Exchange (CME). The ETH trading volumes have been gaining dominance and stand at around 30% of Bitcoin (BTC) and the open interest at 27%.

    The OI of CME’s EH futures currently sits at an all-time high of $650 million. The OI of the bitcoin futures sits at $1.8 bn but is down substantially from its Feb 18th peak of $3.3 billion. Ether futures now account for 26.5% of the total OI in CME’s crypto futures.

    Ethereum ETH ETHUSD
    Source: Arcane Research

    Ethereum Takes Market Share Away From Bitcoin

    The OI also suggests that institutions are “eagerly” building up their Ethereum (ETH) positions at the moment, Arcane Research said. Most likely, a consequence of the EIP-1559 and the expectations of future appreciation due to the network’s new fee model.

    ETH ETHUSD
    Source: Arcane Research

    As the chart shows, ETH futures trading volume has been on a rise since mid-April 12 and only slow down during May and July’s crypto market crash. During this time Ethereum went as low as $1,650 but was able to quickly recover both in price and in the aforementioned metric.

    The daily trading volume of the CME ETH futures has also seen a significant uptick in market share recently. On Friday, Aug 13th, the trading volume of the ETH futures accounted for 33% of the total trading volume in CME’s crypto futures. With the increased dominance of the ETH futures and the growing contango, a bullish sentiment around ETH among institutional investors seems to be brewing.



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  • Bitcoin Short Squeeze Revives Trading Volume And Volatility

    Bitcoin Short Squeeze Revives Trading Volume And Volatility

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    After what seems like a thousand years of stability and a slight downtrend, bitcoin is back. Volatility is wreaking havoc. Trading volume seems to be picking up steam. And, more importantly, the community’s morale is climbing up. In any case, what do the data and the on-chain analysis say? Are the numbers high enough to justify the excitement? Let’s explore them.

    BTCUSD price chart for 07/27/2021 - TradingView

    BTC price chart for 07/27/2021 on Bitstamp | Source: BTC/USD on TradingView.com

    Trading Volume Is Climbing, But, Is It A Trend?

    According to Arcane Research, “On Monday, the daily trading volume in bitcoin reached $9.2 billion, which is the highest daily trading volume in bitcoin recorded since June 22nd.” That could be a good sign of a healthy market making a recovery, but hold your horses. The market had been stagnant for a while, and not only that, before the spike we had “Four consecutive days bellow $3 billion.”

    Related Reading | Bitcoin Trading Volume Plunges To Lowest Level Since 2020

    Even though $9.2M is a promising number, take into account that “Overall, the 7-day average trading volume remains substantially below its yearly average and trading activity in bitcoin seems to be low so far this summer.” From where we stand, there’s no way of knowing if the market is picking up or if we are witnessing a statistic anomaly. We’ll have to wait and see.

    Trading Volume BTC chart

    BTC Daily Volume is rising | Source: Arcane Research

    Volatility Is Back In Action, But, Is It Here To Stay?

    Even though traditional finance is afraid of it, the Bitcoin community thrives on volatility. And, again according to Arcane Research, “Yesterday, the markets moved towards the upside, leading the 7-day volatility to climb above the 30-day volatility.” So, volatility is back, but, are we off to the races? Don’t be so sure.

    “Last summer, a similar event occurred when bitcoin was consolidating throughout the summer on declining volatility, before seeing a sudden 11% gain on July 27th, 2020. Then, the market corrected back toward the lower end of the consolidation range quickly thereafter and remained within its consolidation range throughout the summer.”

    Are we in the same cycle, though? So far, 2021 has been insane for Bitcoin. All the predictions fell through. All the models seem to be failing. And there’s hope. The bull run might be over, but it also might not. And if we are still in the bull run, there’s no point comparing the situation to last summer. We might be in a whole different ball game.

    Volatility BTCUSD chart

    BTC/ USD Volatility is wreaking havoc | Source: Arcane Research

    The Short Squeeze That Generated This

    Everything happened “On Monday, $750 million worth of shorts got liquidated, as bitcoin climbed from $34000 to $39500. This is the largest short squeeze we’ve recorded in bitcoin, surpassing the squeeze amid bitcoin breaking its 2017 ATH on December 16th-17th.” That catastrophic event shifted Bitcoin’s tectonic plates and put volatility, trading volume, and everything in motion. How long will it last, though? That’s the question.

    Related Reading | $150 Million In Short Squeeze Liquidated As Bitcoin Scales Above $53,000

    About the short squeeze is worth noting that “Binance changed their API following the May 19th crash,” so the numbers might not be precise. In fact, according to Arcane Research, the situation might’ve been “severely underestimated by Bybt. This short squeeze was, therefore, very likely far larger than $750 million.”

    Featured Image by Steve Buissinne from Pixabay - Charts by TradingView

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  • MIMO and PAR Listed on Bittrex Global to Enable Euro-Stablecoin Trading | by Bit Media Buzz | Jun, 2021

    MIMO and PAR Listed on Bittrex Global to Enable Euro-Stablecoin Trading | by Bit Media Buzz | Jun, 2021

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