Author: Coindesk
“Now, that’s very different from, let’s say there’s somebody who comes and builds an order book DEX on Polygon PoS,” he said. “If they were doing $20,000 of fees over multiple months, it would be a massive failure, because you would expect massive numbers of orders placed and canceled and filled, then that would drive huge numbers of transactions. So the key here is like, different applications have different intended purposes.” Read the full article here
Bitcoin traded between $67,500-$67,900 during the European morning following a retreat from above $68,000. BTC remains over 1.2% higher in the last 24 hours, outperforming other major tokens, which have posted more modest gains. ETH and SOL have risen around 0.75%, while DOGE is up nearly 1%. The broader digital asset market, as measured by the CoinDesk 20 Index, has risen just under 0.8%. Bitcoin looks on course to close the week over 1% lower, according to CoinDesk Indices data, having failed to sustain any of its ascents north of $68,000. Read the full article here
The bigger picture concerns the growth of the crypto sector in Canada more broadly. The amount of crypto collectively held in Canada’s ETFs might not seem like a big deal right now, Bordianu says, but given the growth of things like tokenized real world assets and the proliferation of stablecoins, Canada needs to focus on building its own infrastructure to handle these assets. Read the full article here
Options-implied probabilities are calculated by using the Block-Scholes model or other pricing models that take into account factors like current spot market price, strike price, time to expiration, volatility, and the risk-free rate. Options-based probabilities are positively correlated with implied volatility: The greater the volatility, the higher the odds of bitcoin hitting certain levels. Read the full article here
The “GCorttell93” account purchased over 4.5 million Trump contracts in the “Presidential Election Winner 2024” market spending over $3 million in a short period. However, due to how the orderbook works, a tranche of $275,000 was filled at 99% odds – a leap from the actual 63% offered odds at the time. Read the full article here
“Over the last 10 years, no one has managed to build a high-performance blockchain. I think the incentives in the space have really skewed people towards short term wins, pumping tokens [and] not actually solving real problems,” he said, adding that average transaction volumes on some chains are in the single digits. Read the full article here
Both Portofino’s chief operating officer and co-founder, Alex Casimo, and chief financial officer, Jae Park, were fired in July. This then triggered the resignations of Vincent Prieur, the head of strategy and operations, and Shane O’Callaghan, the global head of business development, as well as a significant number of the firm’s staff. Read the full article here
The National Center for Public Policy Research, a conservative think tank, has notified shareholders of Microsoft that it intends to propose a Bitcoin Diversification Assessment at the company’s annual meeting on Dec. 10, a filing shows. Read the full article here
The notion, cited by some, of a sentient memecoin might be less about believing the coin itself is sentient and more about participating in a collective narrative or experiment to see how far the idea can go, how it affects market behavior, or how it explores the concept of value in cryptocurrencies. Read the full article here
Stablecoins are one of the most popular innovations in crypto, bridging government-issued fiat currencies on traditional financial rails with blockchain-based digital assets, facilitating trading and transactions. Taken together, all stablecoins have a market capitalization of about $170 billion. Because of their non-volatile nature combined with blockchain’s speed and near-instant settlements, they are increasingly used for everyday economic activities such as payments and remittances, especially in developing countries with less robust banking systems and rapidly devaluing local currencies like Argentina and Nigeria. Read the full article here