Category: crypto

Onchain commodity trading is gaining popularity as traders seek continuous access to commodities like oil, gold, and indices. Hyperliquid recorded $5.4 billion in perpetual futures volume across various assets, indicating increasing interest in onchain macro trading. While traditional markets still lead in liquidity and execution quality, onchain platforms offer round-the-clock access and the ability to…

Bitfinex margin long positions have reached their highest level since November 2023, with 79,193 BTC accumulated. Adam Back suggests that buyers may be using TWAP strategies to accumulate Bitcoin below $69,000. This steady accumulation trend, estimated at 300 BTC daily, is seen as a longer-term positioning by larger buyers during the current correction phase.

The crypto markets saw activity in derivatives, token sales, regulation, and ETF flows over the weekend. Hyperliquid’s HIP-3 market reached $5.4 billion in futures volume, World Assets sold 239 million WLD for $65 million, US spot Bitcoin ETFs had $296.18 million in weekly outflows, and Washington sued Kalshi.

Peter Van Valkenburgh warned that the crypto industry in the United States may miss out on securing legal protections through the CLARITY Act. Without legislation, developers could face crackdowns based on politics, discretion, and fear. The bill is aimed at providing clear statutory rules for digital assets to prevent future policy changes.

Google is set to support Anthropic’s large data center project in Texas to meet the increasing demand for AI infrastructure. The project, costing over $5 billion, will deliver 500 megawatts by 2026, with plans to expand to 7.7 gigawatts. A federal judge blocked the Pentagon from labeling Anthropic a supply-chain risk during ongoing litigation.

BNP Paribas in France is introducing six crypto-linked exchange-traded notes for retail investors, allowing them to access Bitcoin and Ether through securities accounts without directly buying or storing the cryptocurrencies. This move expands the bank’s digital asset offerings and follows a wider trend of European institutions offering regulated crypto exposure through investment products.

Washington state sued Kalshi, accusing the prediction market operator of violating gambling and consumer protection laws. Kalshi moved the case to federal court, claiming lack of warning from the state. Other legal challenges from Nevada and Arizona have also been brought against Kalshi. Regulators question if its products constitute unlicensed gambling.

Canada has introduced a bill to ban cryptocurrency donations to political parties and third parties during elections. The bill also prohibits donations made through money orders and prepaid cards to prevent anonymous funding. The proposed changes aim to protect election integrity and close gaps that foreign actors could exploit.

Ark Invest’s Bitcoin ETF experienced significant outflows this week as Bitcoin’s price dropped. U.S. spot Bitcoin ETFs lost $171 million in outflows on March 27, with Ark Invest’s ARK 21Shares fund being hit hard. This contradicts the narrative of institutional support for Bitcoin, with investors pulling out due to market conditions and geopolitical tensions.

a16z crypto is focusing on a long-term investment strategy in the crypto sector, comparing the current market to the foundational phases of the internet and AI. Despite high-profile partners leaving, the firm is raising a new $2 billion fund. They believe in the long-term potential of blockchain technology and are investing in themes like stablecoins…