SShortSingh.

Related stories

0
Crypto & Web3CoinDesk ·

Repetitive fixed-size trades dominate Kalshi's Bitcoin and Ether perpetual volumes

Data analyzed by CoinDesk reveals an unusual trading pattern on prediction market platform Kalshi in its crypto perpetuals markets. A single recurring trade size of $5,499 accounted for 57% of the sampled volume in Ether perpetuals. Similarly, repetitive trade sizes of $2,500 and $5,000 together made up 54% of sampled Bitcoin perpetual volume. The concentration of identical trade sizes raises questions about the nature and origin of the activity on the platform. CoinDesk has not identified who is responsible for the repetitive trades.

0
Crypto & Web3CoinDesk ·

Kraken-backed Reap eyes multi-currency stablecoins for round-the-clock FX settlement

Reap, a fintech firm backed by Kraken parent company Payward, is expanding its stablecoin strategy beyond US dollar-pegged tokens. The company is set to introduce a Mexican peso stablecoin and is actively exploring digital tokens tied to the Hong Kong dollar, euro, South Korean won, and Japanese yen. The move is aimed at enabling cross-border foreign exchange settlements outside traditional banking hours. By leveraging non-USD stablecoins, Reap seeks to address gaps in global FX markets that arise when conventional financial institutions are closed.

0
Crypto & Web3CoinDesk ·

Binance acquires $100M Circle stake in five-year USDC promotion agreement

Cryptocurrency exchange Binance has purchased a $100 million stake in Circle, the issuer of the USDC stablecoin. The deal involved Binance acquiring 1.24 million Circle shares at a price of $80.84 per share. As part of the five-year agreement, Binance will actively promote USDC across its platform. In return, Circle will pay Binance a recurring monthly fee based on the volume of USDC held through Binance's wallet infrastructure.

0
Crypto & Web3CoinDesk ·

Bitcoin Rebounds to $86K as Falling Oil Prices Boost Risk Appetite

Bitcoin recovered from earlier lows to trade near $86,000 during recent market activity. A drop in WTI crude oil prices, which fell below $90 per barrel, contributed to improved investor sentiment. The decline in oil prices helped support broader risk appetite across financial markets. Strong performance in stock markets also provided additional tailwinds for the cryptocurrency's recovery.