The biggest tokens slowly traded while the merchants waited for the Federal Reserve meeting on Wednesday. Sol (sun) of Solana stood out with an almost record open interest in the future mentioned by CME.
MONERO (XMR) Centered in privacy increased 6% for 24 hours, looking beyond the massive blockchain reorg that raised centralization concerns. Other winners were IMX, an increase of almost 13%, Avax, adding 6%, and hash, which quoted 4%higher.
Key market signals painted a mixed image, warning of an increase in volatility after the Fed decision.
“On the surface, the MVRV ETF has risen to 2.29, and liquidity impressions show strong institutional offers,” said Timothy Misir, head of research, BRN, in an email that refers to the market value to the value ratio performed.
“Under the surface, the spot cumulative volume delta weakened even when the impulse indicators were put overloaded. That impulse of folk without a broad participation is the classical configuration for a setback driven by the title or a strong monitoring if the Fed meets the hopes of the market.”
Derivative positioning
By Omkar Godbole
- Most of the main cryptocurrencies, including BTC and ETH, continued to experience capital outputs from future, which led to a decrease in open interest.
- AVAX stands out with OI increasing more than 14%, since the market capitalization of the Token seeks to rise above $ 13 billion for the first time since February 2.
- Solana OI has reached a record record of more than 70 million sun, with positive financing rates that point to upward capital tickets.
- In the CME, OI in Solana Futures returned to 7.63 million sun from the record of 8.12 million sun on September 12. Even so, the three -month annualized premium remains above 15%, offering an attractive performance for transport merchants.
- BTC CME OI continues to improve, but the general positioning remains light in relation to ether and sun futures.
- In Delibit, bias for BTC and ETH sales options continues to relieve in all tenors as merchants anticipate the Fed fees cuts. Sun and XRP options remain skewed.
- In the OTC network paradigm, the block flows presented a BTC calendar spreads and the short circuit of the call and sale options.
Token talk
By Oliver Knight
- As the encryption market remains within a narrow range after a brief peak and channel on Monday, a file is running its own career: IMX increases 15% in the last 24 hours with a daily negotiation volume that doubles to $ 144 million.
- The RISE lifted IMX, the native token of the immutable web 3 games, a maximum of five months.
- The bullish feeling around imminutable can be attributed to an investigation of the SEC that was eliminated earlier this year and the general optimism around the games sector. It is estimated that the games will reach the income of $ 200 billion this year with a higher growth forecast in 2026 together with the launch of Grand Theft Auto 6 of Rockstar Gaming.
- Immutable is well positioned to capitalize on that growth after associating with the Gigante of the Ubisoft Games in the next iteration of power and magical destination in April.
- Blockchain technology could have a key role to play in games if trends change towards the ownership of the game of elements, which could see the implementation of non -fungible tokens (NFT) within a game that could later be collected or sold for cryptographic tokens.
- IMX is currently quoted at $ 0.736 after having left a key level of resistance. It is likely to try $ 0.70 as a support before potentially move higher, provided that the commercial volume can keep at these levels.
