The cryptography market has decreased today, indicating risk aversion before the release of US PCE inflation data. UU., Which could influence the Federal Reserve path in interest rate cuts.
The Coendesk 20 index, a broad market measure, has fallen 3.6% in the last 24 hours, with all but a lower member during that period.
According to Bitunix analysts, a hottest figure could incite the Fed to adopt a unique position after the expected rate cut at the September meeting.
“For BTC, observe whether $ 114.5K turns on the support, or if a reestima of $ 107.6K support confirms market resilience,” the exchange to Coindesk told an email.
Derivative positioning
- Open interest (I heard) In futures linked to the 20 main currencies, excluding Sol, it has decreased by the last 24 hours, which indicates wide -based capital exits.
- Sol’s open interest, however, reached a record of 63.84 million, along with a rally in the price of Token to $ 217, a level seen for the last time in February.
- The eight -hour financing rates for Ether, Tron and BNB floated slightly negative, indicating a bias for bearish bets in a price drop. Financing rates for other important tokens were stable in around zero, indicating a neutral feeling.
- OI in the CME Bitcoin Futures fell to 135.72k BTC, the lowest since April, while Ether Oi remained elevated in records almost 2.10 million eth. Divergence suggests a continuous preference between investors by ETH on BTC.
- In Delibit, the downward bias in the BTC options has been strengthened in all the tenors, and the positions are negotiated in a five volatility premium to the calls in the front. ETH options show similar dynamics, marking a change from the upward positioning earlier this week.
- In the paradigm, block flows presented a call sale and placed rolling strategies in BTC and ETH. The Wintermute market manufacturer pointed out the demand for call differentials in the December expiration BTC options.
Token talk
- Solarium (SUN) registered a 44% drop in the income of the second quarter application, sliding to $ 576.4 million of $ 1 billion in the first quarter, even when its defi sector expanded, according to Messari.
- The recession reflects a weaker profitability in key decentralized applications. Bomb. (BOMB) Still led with $ 156.9 million, but still dropped 44% as Memecoin Frenzy cooled.
- Axiom He was atypical, increasing 641% to $ 126.6 million, showing how fast specific growth of protocol can compensate for the weak ecosystem. Jupiter He won $ 66.4 million (–16%)while Ghost and Photon They were more affected with decreases of 65% and 72%, respectively.
- Despite the revenue losses, Defi TVL in Solana rose 30% to $ 8.6 billion in the quarter and since then has crossed $ 11 billion, consolidating the chain as the largest network defi behind Ethereum.
- Kamino Finance It led the growth of TVL, 34% to $ 2.1 billion after presenting Kamino Lend V2, which attracted $ 200 million in deposits and $ 80 million in loans within three weeks. Kamino now controls 25% of Solana’s market share.
- Raydium He organized a strong return, increasing 54% to $ 1.8 billion in TVL, recovering Jupiter’s second place. Now orders the 21% participation versus 19% of Jupiter.
- Commercial activity, however, told a different story: the average daily volume of Dex Spot fell 45% to $ 2.5 billion, which reflects a discoloration of the memecoin boost that had fed the records of the previous room.
