As the cryptography market awaits the release of non -agricultural payrolls from USA. To obtain information on how the Federal Reserve on interest rates could act, implicit volatility indices point to moderate volatility of prices in the main cryptocurrencies.
At the time of publication, Bitcoin Anualized Volmex The implicit volatility index of a day was 43.80. That means a 24 -hour expected price change of 2.29%. Ether indices (Eth)XRP and sun (SUN) Suggested price pressures of 3.7%, 4%and 4.86%, respectively.
The analysts said that a hottest job report could weaken the case of rapid feeding rate cuts, which is more under risk assets.
Derivative positioning
- Ether’s open interest in perpetual contracts called in dollars and dollars in important exchanges decreased to 1.93 million ETH, a minimum of four weeks. This capital output raises questions about the sustainability of the gain of almost 18% ETH during the period.
- With the exception of Link and BTC, open interest decreased in the 10 main tokens. Oi in the perpetuals of Major Solana fell below 11 million sun, threatening to invalidate the four -week bullish trend.
- The BTC futures activity on the CME is still moderate, but the options are warming up, with an open interest increasing to 47.23k BTC, the highest since April. The NOGA has increased to $ 5.21 billion, as many since November. Some merchants have been buying cheap positions outside money, preparing for a potential potential payrolls of the US. (NFP) report.
- According to trends in exchanges in the high seas, Ether’s futures open interest in the CME fell below 2 million ETH, while the three -month -old annualized premium increased from 5% to 7%.
- In Delibit, BTC continues to operate with a premium to calls in all tenors, pointing out the downward concerns.
- The seven -day volatility risk premium has become almost zero, suggesting that implicit volatility for seven days is now approximately equal to the volatility performed. In other words, investors do not expect a premium to protect against future volatility peaks, despite the US job data. UU. Later today.
- In the case of ETH, Put is quoted with a premium to call the expiration of the end of November.
- The block flows on the OTC desktop in Paradigm have been mixed, with a call BTC $ 116K raised along with a $ 4K ether.
Token talk
- The Memecoin sector had shown signs of fading earlier this year, particularly after the exaggerated short -term cycles around the chips such as Trump and Melania in January. These releases briefly captured the attention, but could not maintain the impulse, reinforcing the perception that the memecoras trade was exhausted after the 2023 frenzy.
- Both later collapsed. Trump is now 88% lower and Melania has dropped 95% despite being promoted by the president and the first lady of the United States in January.
- However, there is a new child in the block: Memecore, a layer of layer 1 blocks only focused on the transition of speculative asset memecoins to something that has utility in decentralized finances (Defi).
- The native platform file, M, has increased by 261% in the last week despite a broader setback in the market.
- The burst of the activity can also be linked to the Memex Liquidity Festival, which offers $ 5.7 million in rewards to merchants. It is worth noting that 85% of the negotiation volume has taken place in the decentralized exchange of Pancakeswap, indicating significant retail flows instead of usefulness in the chain.
- While some can argue that this is just another flash in the pan, the increase demonstrates how fast can change the feeling of Memecoin.
- The positive feeling around Memecore could find a way to return to the Memecoin platform based in Solana Pump.fun, whose $ 15.8 million in daily revenues in January have fallen to between $ 1.5 million and $ 2.5 million this week.
