TLDR CRYPTO 2024-02-28

CRYPTO EXCHANGE KRAKEN UNVEILS INSTITUTIONAL SOLUTION

Kraken has launched Kraken Institutional, a platform for institutional firms seeking exposure to crypto. This one-stop shop will include spot trading, OTC trading, and staking services. The platform is aimed at institutions, hedge funds, and high-net-worth individuals. It will be led by Tim Ogilvie, who joined Kraken after its acquisition of Staked. The announcement comes amid a battle between the SEC and Kraken on whether or not it is running an unregistered cryptocurrency exchange.

BLACKROCK BITCOIN ETF HITS RECORD VOLUME OF OVER $1.3B FOR SECOND CONSECUTIVE DAY

BlackRock's spot bitcoin ETF had another big day, recording over $1.357 billion in volume, exceeding Monday's $1.3 billion. The other recently listed spot bitcoin ETFs also saw robust activity, with a total volume of over $2 billion between them. Bitcoin's breakout rally to $57,000 the night before likely stimulated the high trading volumes.

SYMMIO: A GLOBAL DERIVATIVES SETTLEMENT LAYER

SYMMIO, a new global derivatives settlement layer, is aiming to become the leading infrastructure for derivatives. It offers optimized pre-market quotations and a secure settlement through its bilaterally isolated instances. With its aggregated liquidity, SYMMIO allows new solvers and frontends to connect seamlessly from day one.

UNISWAP REVEALS WALLET BROWSER EXTENSION AND OTHER TOOLS FOR EASIER CRYPTOCURRENCY TRANSACTIONS

Uniswap is launching three new tools to simplify crypto transactions: a browser sidebar wallet extension called Uniswap Extension, automatic transaction execution through Limit Orders, and trader-oriented Data & Insight pages. The latter two features are already available, while access to Uniswap Extension will be opened to waitlist users in four to six weeks.

EXPLAINING FUNDING RATES

Perpetual swap funding rates act as a tool that aligns contract prices with market prices. Market sentiment has recently become bullish, indicated by record-high funding rates of 19%+ on major cryptocurrencies and 30%+ on alternatives. The surge shows market participants are confidently going long, which shows optimism from traders. Now is a time to exercise caution as the market tends to test and flush leverage.

THE IMPORTANCE OF DIVERGENCE IN TRADING

This post discusses the importance of divergence in trading. Divergences - situations when two things diverge from one another - can form the basis of many robust trade ideas. The post illustrates this principle using different variables like price and momentum, price and delta, price and premium, price and sentiment, price and news, and relative strength.

STATE OF WALLETS PART 1: WALLET TECHNOLOGIES

This article provides a good overview of the crypto wallet sector, focusing on three categories: self-custody wallets, embedded wallets (Wallet-as-a-Service), and smart accounts. The evolution from primarily self-custody wallets is paving the way for more user-friendly options that could significantly increase mainstream crypto adoption. The piece raises intriguing questions around the paths of adoption, user types, geographical influence, business models, and wallet form factors that might take shape as the crypto ecosystem evolves.

HOW YOU GET FARMED: A RANT

Critics of the points farming strategy that has been employed by many protocols lately say that protocols are basically farming users rather than the other way around. These platforms incentivize farmers, with farmers often ending up being exploited. In light of this, users should be diligent in researching tokenless protocols, engaging with team members, and not blindly trusting influencers shilling ways to farm the protocol.

MYSTERY WHALE BUYS $1.3B IN BITCOIN, SPARKING SPECULATION

A mystery buyer reportedly purchased 26,200 Bitcoin for $1.3 billion, sparking speculation on who it could be that would take such a large swing so suddenly.

WILL BITCOIN ETF INFLOWS BE DIVERSIFIED INTO ETHEREUM ETFS

This thread attempts to analyze the extent to which flows into the BTC ETFs might be redirected to ETH ETFs upon approval and what effects that would have on ETH.

CHART EXPERT PETER BRANDT RAISES BITCOIN'S 2025 TARGET TO $200K ON CHANNEL BREAKOUT

Peter Brandt has revised his Bitcoin price forecast to $200,000 by September 2025, up from $120,000, amid a bullish breakout according to his charts.

CRYPTO MINERS CONTINUE ‘SPRINT’ FOR HASH RATE IN LEAD-UP TO HALVING

Riot Platforms and CleanSpark have been escalating hash rate and efficiency efforts ahead of the Bitcoin halving, with significant mining machine purchases and facility expansions.

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