Bitcoin Futures Open Interest Reaches ATH, Grayscale Tops $6 Billion in AUM and More
Yearn Finance Joins the Billion Dollar DeFi Group with Four Others
Yearn.finance joins the billion-dollar club w.r.t. Total Value Locked (TVL). It becomes the fifth project along with Aave, Maker, Curve, and Compound with a TVL greater than $1 billion.
Bitcoin [BTC] Futures Open Interest Reaches All-Time High Above $5 Billion
Bitcoin [BTC] futures Open Interest (OI) across leading derivatives platforms topped its ATH in February to a new high above $5 billion.
Okex Exchange is leading the futures market with an OI of $1.11 billion followed by BitMEX at 0.97 billion. The spikes on institutional platforms like CME and Bakkt are particularly grabbing the attention of the market. On 17th August 2020, the OI on CME at $948 million (an All-Time High) was nearly three times the OI during the high in February.
Grayscale Crypto Trust Fund Tops $6 Billion in AUM
Grayscale Crypto Trust Fund tops $6 billion in AUM (Asset Under Management). Bitcoin [BTC] accounts for $5 billion (83.33%) of the total assets. The AUM under the Ethereum Fund is 876.6 M, accounting for nearly 14.6% of the asset at Grayscale. The update from Arcane Research on Grayscale LLC.’s AUM point towards a high institutional interest in these assets.
Will USD Devaluation Hedge the $SPX Fueled Drop in Bitcoin Prices?
New highs in SPX seems to be acting as a catalyst for the drop in Bitcoin and gold. However, the devaluation of the US Dollar might build bullish fundamentals.
Aave [LEND] Technical Analysis:
LEND/USD Continues The DeFi Craze Hitting $1 Bn in Total Locked Value, Up 18%
Aave is the second protocol to hit $1 billion in total locked value after Maker Dao.
LEND/USD technical picture starts to deteriorate following a barrier at $0.65.
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