Prizmabet

A Bullish XRP Flag Emerges as $5 Call Options Heat Up: Godbole

XRP’s price pattern is teasing a major bullish pattern alongside increased activity in the $5 strike call options on Deribit

XRP is hot and it is probably setting up for another big rally. That’s the message from the price chart and options market.

The payments-focused cryptocurrency is down 10% this week. The pullback, however, has taken the shape of a bull flag. This technical analysis pattern usually slopes in the opposite direction of the preceding sharp uptrend and, more often than not, recharges bulls’ engines for further gains.

Story continues below

“The breakout should be expected in the direction of the preceding trend, provided it is steep and sharp,” Charles Kirkpatrick, a chartered market technician and the president of Kirkpatrick & Company, Inc, said in the book “Technical Analysis, the Complete Resource For Finance Market Technicians.”

“Flags preceded by a rise of 90% or more have almost zero failure rate and an average return of 69%,” Kirkpatrick added.

XRP is forming a bull flag after a rally of nearly 500% to $2.9 in the four weeks to Dec. 3. An eventual breakout would mean scope for a rally to $5. The potential level is identified by adding the magnitude of the preceding uptrend to the breakout point, currently at around $2.5 in what is known as a measured height method in technical analysis terminology.

Interestingly, activity is heating up in the $5 strike call options on Deribit, offering an asymmetric upside to buyers on a potential move above that level.

The $5 call is the second-most traded XRP option of the past 24 hours, with a volume of 1.7 million contracts, according to data source Amberdata. (One contract represents 1 XRP).

Besides, Deribit data shows the $5 call is the most popular out-of-the-money or higher strike call option with a notional open interest of $1.25 million. The increased activity indicates a bullish positioning, assuming the buyers are traders, not market makers.

Still, readers might want to note that technical analysis patterns do not always work as intended, and options market positioning can flip quickly per evolving price trends. As such, tracking the broader market sentiment is pivotal.

Merhaba arkadaşlar, bugün sizlere Prizmabet adlı bir bahis sitesinden bahsedeceğim. Prizmabet, Betconstruct altyapısı ile üyelerine kaliteli hizmetler veren ve ülkemizin önde gelen bahis sitelerinden bir tanesidir. 2009 yılında kurulan Prizmabet, lisanslı, güvenilir ve avantajlı bir site olarak dikkat çekmektedir. Prizmabet’te spor bahisleri, canlı bahisler, casino, canlı casino, slot oyunları, sanal sporlar ve daha pek çok seçenek bulabilirsiniz. Prizmabet’te oyun oynamak için aradığınız ortamı fazlası ile bulacaksınız.

Prizmabet’in en önemli özelliklerinden biri de Prizmabet TV kanalıdır. Bu kanal sayesinde bahis sitesinde bulunan müsabakaları üyeler bir ücrete katlanmadan istedikleri zaman takip edebiliyor. Böylece hem heyecanlı hem de kazançlı bir bahis deneyimi yaşayabiliyorsunuz. Prizmabet TV kanalında futbol, basketbol, tenis, voleybol gibi popüler spor dallarının yanı sıra daha az bilinen sporlara da yer verilmektedir. Prizmabet TV kanalını kullanmak için sadece siteye üye olmanız ve yatırım yapmanız yeterlidir.

Prizmabet ayrıca üyelerine bol miktarda bonus ve promosyon da sunmaktadır. Prizmabet’te ilk üyelik bonusu olarak 100 TL deneme bonusu alabilirsiniz. Bunun yanında yatırım bonusları, kayıp bonusları, arkadaş davet bonusu, doğum günü bonusu gibi farklı bonuslar da mevcuttur. Prizmabet bonusları sayesinde daha fazla oyun oynayabilir ve kazancınızı artırabilirsiniz. Prizmabet bonuslarının çevrim şartları da oldukça makul seviyededir.

Prizmabet para yatırma ve çekme işlemleri konusunda da üyelerine kolaylık sağlamaktadır. Prizmabet’te banka havalesi, kredi kartı, papara, cepbank, QR kod, bitcoin gibi farklı yöntemlerle para yatırabilir ve çekebilirsiniz. Para yatırma ve çekme işlemleri 7/24 yapılabilmekte ve kısa sürede hesaplara yansımaktadır. Prizmabet para yatırma ve çekme işlemlerinde herhangi bir komisyon veya kesinti de yapmamaktadır.

Prizmabet müşteri hizmetleri de üyelerine 7/24 canlı destek hizmeti sağlamaktadır. Prizmabet canlı destek ekibi sayesinde site ile ilgili her türlü soru, sorun veya önerinizi iletebilir ve anında çözüm bulabilirsiniz. Prizmabet canlı destek ekibi profesyonel, güler yüzlü ve yardımseverdir.

Sonuç olarak, Prizmabet ülkemizin en iyi bahis sitelerinden biri olarak gösterilebilir. Prizmabet’te hem eğlenceli hem de kazançlı bir bahis deneyimi yaşayabilirsiniz. Prizmabet’e üye olmak için güncel giriş adresini web sitemizden bulabilirsiniz. Prizmabet’e girmek için tıklayınız! Prizmabet’e katıldığınıza pişman olmayacaksınız!

Crypto Doesn’t Care About Cash Flow. That Will Soon Change, Says Pantera Capital

Cosmo Jiang, portfolio manager at Pantera Capital, says that crypto investing will get more fundamentals-oriented as the industry matures.

It’s not easy to pick what crypto tokens to invest in. Conventional wisdom among crypto natives is that you shouldn’t think too hard about it — after all, coins named after dogs, frogs or cats will regularly outperform tokens tied to legitimate projects.

But that state of affairs cannot last forever, according to Cosmo Jiang, a general partner and portfolio manager at crypto hedge fund and venture capital firm Pantera Capital.

Story continues below

“If fundamental investing does not come to this industry, it just means that we failed,” Jiang, a self-described classically trained investor who worked in banking and private equity before joining crypto in 2022, told CoinDesk in an interview. “All assets eventually follow the laws of gravity. The only thing that matters to investors at the end of the day — and this has been true for millennia — is cash flow.”

“Crypto went from nothing to $3.4 trillion in market cap now on the back of retail interest,” Jiang said, “but the only way for this asset class to keep growing is by attracting institutional capital. And institutional capital will only care about fundamentals. Logically, that will be the only way to make money on a sustainable basis going forward.”

Pantera has roughly $5 billion in assets under management, Jiang said, with about 75% of those funds locked in venture vehicles and the rest in liquid assets. As the portfolio manager of the firm’s liquid token fund, Jiang’s focus lies in publicly traded tokens.

How does he pick which ones to add to the fund’s portfolio? By looking at product-market fit — meaning, at crypto projects that are developing products in areas where there’s huge demand. There are wwo basic questions at the forefront of his mind: whether the team can execute on their vision, and whether there’s a chance their token will capture some of the economic surplus generated.

“This will sound so stupid to anyone that works with normal asset classes, because it’s so normal,” Jiang said. “But in crypto, for whatever reason, this method is non-consensus.”

Solana versus Ethereum

When it comes to crypto projects, layer-1 networks offer some of the most battle-hardened business models. Smart contract platforms are relatively old — Ethereum launched in 2015 — and generate revenue through transaction fees. Their tokens also accrue value when their networks see increased usage. Solana’s SOL and Telegram’s TON have been two of Jiang’s favorites. But Ethereum’s ether (ETH), to him, isn’t as attractive of an investment as it used to be, because new users aren’t flocking to the network.

Solana saw almost 3 million in average daily active addresses in the last six months, according to a Dune dashboard by altcoin_analyst, while Ethereum only saw 454,000. Moreover, Solana has increased its revenue by 180% in the last 30 days, compared to Ethereum’s 37%, per TokenTerminal. And that means the difference in annualized revenue is shrinking: Solana made $1.27 billion in the last 12 months and is quickly catching up to Ethereum’s $2.4 billion. Despite that, Solana’s market capitalization is still four times lower than Ethereum’s.

“Take a look at incremental growth and compare how much has gone to Solana versus Ethereum. The numbers are stark,” Jiang said. “None of this stuff is worth anything if no one uses it.”

“Ethereum clearly has a lot of very talented people building on it. It has an interesting roadmap, but it’s also valued for that, right?” Jiang added. “It is a very large asset. At $435 billion, that would rank it amongst one of the most successful companies in the world if it were compared to equity. And the unfortunate fact is it’s currently losing market share [to Solana and others].”

Another big difference between the two networks lies in their architecture. In its attempt to solve scaling issues, Ethereum has switched to a so-called modular blockchain design, meaning that various network tasks are split between Ethereum and its associated layer 2s like Arbitrum or Optimism. Solana, meanwhile, has kept it monolithic — everything happens on one blockchain.

For Jiang, that means Solana has an advantage in terms of user interface, and also in terms of capturing the network’s value through SOL. Ethereum, meanwhile, ends up splitting its value across an array of tokens and blockchains, which means the network needs to facilitate a lot more transactions for ETH to outmatch SOL. However, Ethereum’s throughput is rapidly increasing, so in theory the network could develop enough activity for that to eventually happen, but it’s not a guarantee.

“The driving force behind Ethereum philosophy has been maximum decentralization,” Jiang said. “I’m not a crypto native, I’m really a tech investor, so I don’t believe in decentralization for the sake of decentralization. There’s probably a minimum viable decentralization that’s good enough.”

We’re still early

Jiang’s attention isn’t confined to layer 1s, however. DePIN — an umbrella term for projects focused on building physical infrastructure with the help of blockchain technology — is another source of interest for him and his team. DePIN (short for “Decentralized physical infrastructure network”) projects include Render Network (RNDR), which enables people to lease unused computing power, and Arweave (AR), which functions as a data storage network.

“When I’m talking to [liquidity providers] … the only stuff that gets them interested is DePIN, because these are real businesses in the real world, it’s something that people can actually allocate and get behind,” Jiang said.

But he’s not against investing in memecoins too — or, at least, in the projects that enable memecoin trading, if not the coins themselves. “I would never, as a hedge fund investor, invest in a blackjack player,” he said. “But I’ve made a lot of money investing in casinos.” And there’s reason to believe the sector could keep expanding, because at the end of the day, the revenue generated by Pump.fun, trading bots and decentralized exchanges is still small compared to the revenue generated by the $540 billion global gambling market.

Even so, Jiang’s strategy failed to outperform bitcoin’s (BTC) 132% return in 2024, he said. In his view, that’s due to bitcoin being relatively advanced in its own bullish cycle, whereas blockchain technology has lagged behind throughout the year. That being said, prospective returns on such tokens should ultimately be higher than for bitcoin, he said, especially since the incoming Trump administration will likely be much friendlier towards the industry than the Biden one ever was.

“On a compounded multi-year basis, we will do extremely well,” Jiang said. “If blockchain reaches billions of users over time, then almost logically, you have to believe that everything else will grow a lot faster than bitcoin.”

Stablecoin Market Cap Hits $200B Milestone, Could Double in 2025 as Adoption Accelerates

Asset manager Bitwise sees the stablecoin market growing to $400 billion next year, with U.S. legislation, fintech adoption and global payments driving the growth.

The booming stablecoin market hit another milestone Wednesday, crossing the $200 billion total market value mark for the first time ever as demand accelerates and adoption expands for the assets.

The asset class as a whole added $10 billion market value in only two weeks since it surpassed the 2022 bull cycle record of $190 billion, according to CCData and DefiLlama.

Story continues below

Stablecoins are cryptocurrencies designed to hold a steady price, predominantly pegged to the U.S. dollar. They are a key piece of infrastructure for the digital assets space, serving as the main source of liquidity for trading crypto assets on exchanges and move value on blockchain rails.

Demand for stablecoins grew steadily through the past year as crypto markets emerged from a brutal bear market. The growth significantly accelerated following Donald Trump’s election victory last month, adding $30 billion supply as investors poured funds into cryptocurrencies in a frenzy.

Tether’s USDT, the most popular stablecoin, climbed to a record supply of $139 billion, up 12% in a month, DefiLlama data shows. USDT was recognized as an accepted virtual asset by the Abu Dhabi Global Market (ADGM) earlier this week, and the issuer aims to expand services across the Middle East region.

Circle’s USDC, the second-largest in the asset class, also grew 9% to nearly $41 billion market value during the same period. Circle just recently teamed up with Binance, the world’s largest crypto exchange by trading volume, to push USDC adoption globally.

It’s not just the booming crypto market that drives growth, though.

There’s evidence for increasing stablecoin usage for payments, remittances and savings, especially in developing countries with rapidly depreciating local currency and fragile financial systems. One indication of stablecoin adoption for non-crypto use cases is the rapidly growing number of stablecoin transactions on transfer applications including peer-to-peer payment platforms, Nik Milanovic, partner at the venture capital firm Fintech Fund, pointed out in an X post.

Tokenized products with stable prices that offer yield to investors are also in vogue. Ethena’s dollar-pegged USDe token, which generates yield by shorting bitcoin and ether perpetuals farming the funding rate, surged over $5 billion, up 90% in a month, per DefiLlama data. Up-and-coming decentralized finance (DeFi) protocol Usual’s stablecoin zoomed to $700 million, doubling in size during the same period.

Market cap could double in 2025

The growth will likely continue into the next year, with digital asset manager Bitwise predicting the stablecoin market as reaching $400 billion in 2025. According to a Tuesday report, one of the key catalysts could be the U.S. Congress passing long-awaited stablecoin legislation that defines rules for businesses and institutions to issue and interact with tokens.

“Clear answers to big questions—Who regulates them? What are the proper reserve requirements?— will spark massive new interest among issuers, consumers, and businesses,” Bitwise analysts wrote. “When that happens, expect some large traditional banks like J.P. Morgan and others to enter the space.”

Other growth catalysts include popular fintech applications integrating stablecoins to their services following Paypal’s example with its PYUSD stablecoin, and the increasing role of stablecoins in global payments and remittances, the report added.

It’s not just Bitwise who came out with bullish projections for stablecoins. Standard Chartered and Zodia Markets forecasted in a report last month that stablecoins could reach to the equivalent of 10% of U.S. money supply and foreign exchange transactions, up from the current 1%.

The Protocol: A Quantum Threat to Bitcoin?

Also: An Ethereum dev’s defection to Solana; Polygon’s big proving-system flex; crypto’s most influential

Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Marc Hochstein, CoinDesk’s deputy editor-in-chief for features, opinion and standards.

In this issue:

Story continues below

What does Google’s quantum computing chip mean for Bitcoin?
Dev’s defection highlights Ethereum’s growing Solana problem
OrdinalsBot inscribes largest-ever file on Bitcoin blockchain
Polygon touts speed of Plonky3 proving system
Crypto’s most influential techies of 2024

Network News

NEED FOR SPEED: Polygon Labs claims its newest proving system, Plonky3, is the fastest on the market. (Vitalik Buterin, Ethereum’s creator, apparently agrees.) A proving system is at the core of zero-knowledge rollups, and a crucial component for transactions that rely on cryptographic security. It is the main piece of technology that creates proofs that summarize off-chain transactions, which are then sent back to a base blockchain (in this case, Ethereum). “If a zkVM is a car, you could look at the proving system as being the engine, so Plonky3 is kind of what makes everything work,” Brendan Farmer, a co-founder at Polygon, tells CoinDesk’s Margaux Nijkerk. The quicker a proof is generated, the less computing time that must be paid for. “If we improve speed, then we’re improving costs,” Farmer said. “And so what this does is it makes ZK rollup really competitive in terms of costs.” In January 2022, Polygon released its previous proving system, called Plonky2, claiming then that it was the fastest one on the market. Plonky3, the new and improved version that has more flexibility, was released in July.

IN AWE OF THE SIZE OF THIS LAD: Bitcoin inscriptions project OrdinalsBot minted what it says is the largest file ever on the oldest and most valuable blockchain: the last in a collection of 1,500 “Pizza Ninjas.” It’s part of a phenomenon in the Bitcoin development community known as “four meggers,” which are files that take up an entire block on the network. They are called four meggers because they are almost 4 megabytes (MB) big (the maximum size of each block of transactions on Bitcoin). Ordinal collectors consider them valuable due to their visibility on the blockchain. “There’s more than just bragging rights behind wanting to have the largest file on Bitcoin,” said Toby Lewis, co-founder of OrdinalsBot. “Four meggers will be on the Bitcoin blockchain forever and they already hold significant market value.” Bitcoin inscriptions, similar to non-fungible tokens (NFTs) on Ethereum, were made possible by the Ordinals protocol. It allows data to be “inscribed” onto individual satoshis, or “sats” (the smallest unit of BTC at 1/100,000,000 of a full bitcoin), making each one unique and potentially valuable. Read more.

JUMPING SHIP: Ethereum’s place near the top of the crypto market is unquestioned from the perspective of market cap. Beneath the surface – at the product, developer and decision-making levels – the original smart contracts platform continues to take a beating from Solana, one of its closest competitors. Ethereum and its many closely-linked networks are still the most important, influential, and largest platforms for decentralized finance. That lead is beginning to erode, however, with many newcomers to crypto choosing Solana’s speed and low fees. The dynamic was further punctuated Monday with news that longtime Ethereum ecosystem developer Max Resnick was moving into Solana’s orbit, abandoning his job at the developer studio Consensys. “There’s just so much more possibility and potential energy in Solana,” Resnick said in an interview with CoinDesk. He framed the decision as rooted in his own career path, but noted “frustration” with Ethereum’s inability to adapt contributed to the move. Ethereum lacks a streamlined process for making quick changes. Some see that as a point of strength for a decentralized network, while others, like Resnick, see it as a hindrance for long-term success. Read more

MOST INFLUENTIAL: This week, for the tenth time, CoinDesk has selected the people who defined the year in crypto: Our Most Influential list. (Here was the first edition in 2015.) Most Influential highlights personal achievements in the last calendar year. People are chosen for their projects, ideas, leadership, personality, or notoriety. There is a top 10 of the most Most Influential – people we feel had outsize influence or led the most important projects. Then, we profile another 40 people who were only a little less influential. (Certain prominent people in crypto – Vitalik Buterin, say – would naturally be Most Influential every year. But we choose not to feature the same names each time.) Among the tech luminaries we highlighted in this year’s series were Solana’s Lilly Liu, Optimism’s Jin Yang, EigenLayer’s Sreeram Kannan, BitVM’s Robin Linus, Rootstock’s Sergio Lerner, TON’s Steve Yun, NEAR’s IIlia Polosukhin, Akash Network’s Greg Osuri; Bitcoin’s Taproot Wizards founders … and of course, Satoshi Nakamoto, whose secret identity remains a parlor-game topic after all these years. (Writing that last piece was downright cathartic for me.) Find all the profiles here.

WHAT DOES GOOGLE’S QUANTUM COMPUTING CHIP MEAN FOR BITCOIN?

Google’s new quantum computing chip could mean bitcoin (BTC) is finished.

That was the sentiment for some on Monday as the internet giant unveiled Willow, a quantum supercomputer that can perform certain computational tasks in just five minutes that would take classical supercomputers an astronomical amount of time—specifically, 10 septillion years (or one followed by 24 zeroes; a trillion trillion).

10,000,000,000,000,000,000,000,000. Such an amount of time is greater than the existence of the entire universe at 13.8 billion years.

In superficial theory, such a powerful computer could mean no passwords are safe, encrypted messages are intercepted, nuclear weapons codes are found out, and almost anything can be unlocked by brute-forcing combinations of numbers and letters.

But it isn’t all doom and gloom yet.

While quantum computing does indeed pose significant threats to current security systems, it’s not a master key to the universe, at least not right now. And there is no looming threat to Bitcoin, either.

Quantum computing leverages the principles of quantum mechanics, using quantum bits or qubits instead of traditional bits. Unlike bits which represent either a 0 or 1, qubits can represent both 0 and 1 simultaneously due to quantum phenomena like superposition and entanglement. This allows quantum computers to perform multiple calculations at once, potentially solving problems that are currently intractable for classical computers. Willow uses 105 qubits and demonstrates an exponential error reduction as the number of qubits increases. This is a critical step towards building a practical, large-scale quantum computer, said Google CEO Sundar Pichai.

Bitcoin uses algorithms like SHA-256 for mining and ECDSA for signatures, which might be vulnerable to quantum decryption. And the short answer is that quantum computers, even advanced ones like Google’s Willow, do not possess the scale or error correction capabilities needed to immediately decrypt widely used encryption methods like RSA, ECC (used in Bitcoin transactions), or AES (used in securing data).

If quantum computers like Willow reach a scale where they can easily factor in large numbers, they could potentially break these encryption schemes, compromising wallet security and transaction integrity. That would require quantum computers with millions or even billions of “qubits” with extremely low error rates, far beyond the current technology.

“Google claims to have demonstrated ‘below threshold’ error correcting capabilities with their latest quantum chip,” said Chris Osborn, founder at Solana ecosystem project Dialect, in a post on X (formerly Twitter). “‘Below threshold’ is industry jargon for turning physical qubits, which are noisy, s*itty quantum bits that are basically useless, into logical qubits, which are multi-qubit abstractions that correct for errors & let you actually perform real computation.” he added.

It takes roughly 5,000 logical qubits “to run Shor’s algorithm to break encryption. In other words, millions of physical qubits are needed to break encryption. Google’s chip today: 105 physical qubits,” Osborn noted.

Until then, cryptocurrencies (and other sectors) have time to develop quantum-resistant algorithms.

CLICK HERE FOR THE FULL ARTICLE BY COINDESK’S SHAURYA MALWA

Money Center

Hole in the wallet

Magic Eden’s $5B Token Airdrop Raises Crypto Wallet Security Questions

Deals and grants

Binance Partners With Circle to Push USDC Stablecoin Adoption Across the Globe
Stablecoin Trading Startup Perena Tries Its Luck on Solana

Happy perp-day

As BitMEX Turns 10, the Market Is Still Thankful for the Perpetual Swap

Regulatory and policy

El Salvador and Argentina Regulators Sign Agreement to Help Develop Crypto Industry

Calendar

Dec. 4-5: India Blockchain Week, Bangalore
Dec. 5-6: Emergence, Prague
Dec. 9-12: Abu Dhabi Finance Week
Dec. 11-12: AI Summit NYC
Dec. 11-14: Taipei Blockchain Week
Jan 9-12, 2025: CES, Las Vegas
Jan. 15-19: World Economic Forum, Davos, Switzerland
January 21-25: WAGMI conference, Miami.
Jan. 24-25: Adopting Bitcoin, Cape Town, South Africa.
Jan. 30-31: PLAN B Forum, San Salvador, El Salvador.
Feb. 1-6: Satoshi Roundtable, Dubai
Feb. 19-20, 2025: ConsensusHK, Hong Kong.
Feb. 23-24: NFT Paris
Feb 23-March 2: ETHDenver
May 14-16: Consensus, Toronto.
March 18-19: Digital Asset Summit, London
May 27-29: Bitcoin 2025, Las Vegas.

Power-Hungry AI Fuels Crypto VC’s Bet on Tokenized Uranium Startup

Portal Ventures wrote the lead check in Uranium Digital’s $1.7 million round.

The power-hungry AI revolution is already spiking global demand for energy. That’s putting a bigger focus on nuclear energy, and with it — according to one venture capital company — the need for better ways to trade the fuel that makes fission possible.

For crypto-focused VC firm Portal Ventures, the answer was downright radioactive. The firm is leading a $1.7 million round in Uranium Digital, a startup that tokenizes uranium ore for easier trading than was ever possible in the highly regulated metal’s surprisingly underfinancialized market.

Story continues below

A “major nuclear renaissance from AI” is afoot, predicted Portal Ventures General Partner Catrina Wang. Her firm wrote the biggest check for Uranium Digital after concluding the startup was using crypto rails to more effectively tap into a “latent market.”

Uranium Digital isn’t the only effort to shake up the tightly controlled market for the most critical component of nuclear fuel. Just last week a separate startup started selling exposure to yellowcake (a form of powdered uranium) atop the Tezos blockchain.

According to Uranium Digital’s founder Alex Dolesky, his firm is the best-positioned to get the job done. He realized trading commodities years ago that, perplexingly, this commodity didn’t have a mature and robust market on par with gold, silver and other metals. Because of its tight controls, it traded solely in opaque deals across OTC desks manned by institutional players — inaccessible to retail traders.

Enter tokenization. Tokens alone can’t power a nuclear reactor. But Uranium Digital represents yellowcake with tokens that anyone can trade. To keep things kosher the underlying metal sits in storage, inaccessible to anyone but buyers with the right licensure to claim physical settlement.

“What we’re creating is the first vector where you have an actual functioning commodity contract underlying spot uranium, and a vector where both retail and institutional volume can converge,” Dolesky said.

He said the increased participation will be a boon for efficiency and price discovery.

This is where Uranium Digital differs from many of the crypto startups that CoinDesk covers in 2024. It isn’t going to issue its own “token” to represent decentralized governance, or whatever. Instead, it’s a pure-play blockchain-as-a-solution company.

“Its kind of a traditional VC equity-style play in the way that value accretes,” Dolesky said.

For his part, Dolesky is playing the AI bet a bit more conservatively than his startup’s biggest backer. He says that uranium trading is at such an early stage that “we first need to establish a financialized market.”

But he’s well aware that the Microsofts, Googles and other tech majors of the world are leaning into an AI future that will, inevitably, need massive amounts of power that nuclear power is well-equipped to deliver.

“They need uranium for reactors and we want to be part of the procurement solution,” he said.

Ether Volume Overshadows Bitcoin on HyperLiquid as Platform Activity Hits $500B

The record trading activity on HyperLiquid’s perpetuals market is characrterized by users recently leaning more toward ether than bitcoin.

Bitcoin (BTC) is not the only one setting milestones. HyperLiquid, the leading on-chain perpetuals trading protocol operating on its custom-built layer 1 blockchain, is setting impressive records, too, with the platform seeing more activity in ether (ETH) than bitcoin.

The cumulative perpetuals volume on the platform has surged past $500 billion, registering a staggering 15-fold year-to-date rise, according to DefiLlama.

Story continues below

The platform has seen an average daily volume of over $5 billion in the past seven days, accounting for over 45% of the total onchain perpetuals market activity of the past 24 hours.

What’s more interesting is that ether, not bitcoin, is leading the boom in activity this week. Since Monday, ether perpetuals have registered a cumulative trading volume of $7 billion. That’s 18% greater than bitcoin’s tally of $5.94 billion, according to data source stats.hyperliquid.xyz.

Ether has also led the growth in the cumulative notional open interest on the platform since late November. At press time, ether perpetuals worth $857.5 million were active, accounting for nearly 25% of the total open interest of $3.49 billion.

The increased activity in ether on HyperLiquid represents sticky capital that could fuel the next leg up in the second-largest cryptocurrency by market value. As of writing, ETH was changing hands at $3,900, representing a 70% year-to-date gain, CoinDesk data shows.

The success stems from HyperLiquid being a purpose-specific protocol rather than a general all-purpose chain, according to some observers.

“HyperLiquid’s success appears rooted in prioritizing product-market fit, blending institutional-grade performance with DeFi accessibility, such as no KYC requirements. By offering more generous incentives for active traders, Hyperliquid aligns closely with user needs, potentially setting a new standard for future crypto projects,” algorithmic trading firm Wintermute said in a note shared with CoinDesk.

HYPE is bigger than AAVE

Speaking of market action, HyperLiquid’s two-week-old HYPE token is already making waves. The cryptocurrency has surged over 300% since its inception, zooming to a market value of $5.69 billion, bigger than long-established DeFi players like Ethereum’s leading lending protocol Aave and Solana-based decentralized exchanges Raydium and Jupiter, according to data source Coingecko.

The sustained bullish move following the record airdrop is a sign of investor confidence, according to Wintermute.

“Despite the potential for significant sell pressure from the airdrop recipients, the sustained demand for HYPE has consistently outpaced supply, indicating robust market confidence,” Wintermute noted.

On Nov. 29, HyperLiquid airdropped 31% of HYPE’s nearly 1 billion supply to users who held points earned through trading activities. The airdrop was valued at $1.9 billion, surpassing layer 2 solution Arbitrum’s $1.5 billion valuation.

HYPE is used as a staking asset to secure the platform’s HyperBFT consensus mechanism and acts as a gas token, facilitating transactions and smart contract executions.

Trader olmak üzerine

Birçok kaynağa göre iyi bir trader olmanın yüzde 80’i psikolojiden ve yüzde 20’si metodolojiden (temel veya teknik analiz fark etmeksizin) gelmektedir.

Birçok kaynağa göre iyi bir trader olmanın yüzde 80’i psikolojiden ve yüzde 20’si metodolojiden (temel veya teknik analiz fark etmeksizin) gelmektedir. Benzer şekilde portföy yönetimi de içerisinde psikolojiyi ve risk yönetimini barındırmaktadır. Trader’lığa ve yatırımcılığa başlayan herkesin fark ettiği üzere teknik ve temel analiz becerilerini herkes kazanabilmekte fakat işin psikolojik tarafıyla herkes başa çıkamamakta. Bundan dolayı finansal piyasalarda yüzde 10’luk, hatta belki yüzde 5’lik kesim para kazanabilirken geri kalan herkes para kaybetmektedir. Yatırımcılığa ve trader’lığa yeni başlayan birçok kişinin ilk fark etmesi gereken şey grafik çizmenin o kadar da zor olmadığı, öte yandan işlem almanın ve o işlemi taşımanın asıl zor olan şey olduğudur. Örneğin amatör birçok trader sistemi kavradığını düşünerek ve hızlıca para kazanmak istediği için çok fazla işlem almaya çalışmakta fakat bunun yerine yavaş hareket edilmesi, alınan her işlemin sorgulanması ve derin bir şekilde incelenmesi (Neden bu işlemi aldın, hangi açılardan konfirmasyonları gözlemledin, işlem sırasında neler hissettin? vb.) gerekmektedir. Sistematik ve tutarlı bir mental süreç inşası sağlıklı işlemler alabilmek adına oldukça önemli çünkü kişiler rastgele işlemler alan, hislerine göre davranan trader’lar olarak değil disiplinli ve kurallarına bağlı bir şekilde ilerleyerek para kazanabilirler.

Sistem ve psikoloji inşası en önemli nokta

Üstelik mentale ve psikolojiye yönelik yatırımların uzun vadede daha etkili olmasının bir sebebi de ne marketin ne de marketi tahmin etmek için kullanılan yöntemlerin değişmemesinden kaynaklanmaktadır. Kimisi “Formasyonlar”ın, kimisi “Price Action”ın, kimisi “Orderflow ve Footprint”in, kimisi “Onchain Metrikleri”nini kimisiyse “Inner Circle Trader”ın en iyi yöntem olduğunu söylemektedir. Belki benim henüz duymadığım yöntemler de bulunmaktadır fakat vurgulamak istediğim nokta yöntemlerin elbet öğrenilebildiğidir. Öğrenme hızınıza bağlı olarak üç-altı ay aralığında (kimisi için daha kısa veya uzun) bir yöntemde işlem almaya alışkanlık kazanabilirsiniz. Siz para kazanabildiğiniz sürece kendi keşfettiğiniz bir şey bile işlem almak için uygundur. Burada önemli olan nokta sistem ve psikoloji inşasıdır. Kişilerin kendisini geliştirmesi ve değiştirmesi, psikolojik sağlamlığının ve kendisine güveninin artması çekinmeden işlemlere girip yanılsa dahi hatasını telafi ederek tekrar başarıya ulaşabileceğini bilmesini sağlayacaktır.

Trader olmanın önündeki en büyük engeller

Kültürel geçmişimiz, aile yaşantımız ve öğrendiğimiz birçok şey başarılı bir trader olmanın önündeki büyük engellerdir. Çünkü trade mentalitesi çok daha farklı bakış açılarından bakmayı, bol bol okumayı ve halihazırda sahip olduğumuz birçok kalıp yargıyı yıkmayı (borsa güvenli değildir, altına yatır vb.) gerektirir. Ayrıca kişiler yaşamları boyunca tek başlarına karar verememişlerdir, çocukluktan itibaren onlar adına karar veren veya kararlarını etkileyen birçok kişi bulunmaktadır. Fakat trade arenasında herkes tek başınadır ve hem kendi kararlarını kendisi alıp yol haritasını belirlemeli hem de dışarıdan gelen seslere kulaklarını kapatıp stratejisine güvenmeyi öğrenmelidir. Burada kontrol sizin elinizde değil, büyük piyasa yapıcıların elinde bulunmakta ve bu durumda yapmanız gereken şey onların hareketlerini tahmin etmeye çalışmaktır.

Sorumluluk markette değil, sizde

Ne market sizi kontrol etmekte ne de siz marketi kontrol edebilmektesiniz, olayın temeli tüm sorumluluğun sizin elinizde olduğunu kabullenmekten geçmektedir. Aldığınız kararlardan yalnızca siz sorumlusunuz, marketi ya da takip ettiğiniz kişileri suçlamak hiçbir şeyi değiştirmeyecektir. Örneğin siyah kuğu olaylarından birisi olarak kabul edilebilecek İran-İsrail savaşını temel alalım. Neredeyse herkes savaşı çıkaran ülkelere hakaretler etmekteydi (haklılık payları var elbette) fakat ilgili olayla birlikte birçok kişinin risk yönetimini yeterince yapamadığı ve piyasaya dair risk iştahı ve açgözlülüğünün tavan yaptığı görülmüş olundu. İşin daha da garip tarafı insanların öfkesi yalnızca savaşı çıkaran ülkelere değil, kripto fenomenlerine veya eğitim aldıkları kişilere de genellenmeye başladı. Bir savaşın çıkacağını kim bilebilirdi ki? Rasyonel düşünebilen bir kişi içerisinde bulunduğu piyasanın risklerini bilerek yatırım yapmalı ve trade atmalıdır. Böyle bir ortamda takip ettiğiniz kişilerden böyle bir ihtimali bilebilmesini beklemek yerine kendiniz olası düşüşlerde ne yapabileceğiniz üzerine düşünmeliydiniz.

Özetleyecek olursak eğer iyi bir trader olmak istiyorsanız kendinize belirli ilkeler ve kurallar belirlemeli, bunlara sadık kalmaya çalışmalısınız. Dışarıdan bakıldığında tüm bunlar kolay görünmektedir, söylemesiyse çok daha kolay fakat bir trader ne zaman işlem alacağına, risk miktarının ne olacağına, ne kadar süreliğine işlemde kalacağına ve hangi durumlarda işlemden çıkacağına karar vermelidir. Aynı zamanda tüm bunlar olurken psikolojisini ve duygularını kontrol etmeyi öğrenmeli, planına sadık kaldığını hatırlatarak kendisini rahatlatmaya çalışmalıdır. Piyasalar sizi stop edip ya da sizi işleme hiç almadan hedef noktanıza gidebilir fakat tam tersine sizi işleme dahil edip stopunuzu çalıştırmayıp likide olmanıza da yol açabilir.

Bir şey yaşandıktan sonra “Bunun olacağını biliyordum” demek “Biliyordum Yanlılığı” (Hindsight Bias) olarak geçmekte fakat bu da bilişsel yanlılıklar yazımızın konusu olacak. Şimdiki konumuza geri dönecek olursak işlem istemediğiniz yönde gitseydi de bu sefer “İyi ki girmemişim” diyecektiniz. Dolayısıyla sonuçları kendi çıkarımıza göre şekillendirmeye eğilimliyiz. Alınan her işlemin kazanma ve kaybetme olasılığının aynı olduğu unutulmamalıdır. Yani bir işlem sizi zengin edebileceği gibi her şeyinizi kaybetmenize de yol açabilir. Fiyat hareketlerinin sürekli değişimi, kazancın gittikçe artması bir süre sonra kişilerin sahip oldukları ilkeleri unutmalarına neden olmaktadır. Ekstrem kazançlara ulaşıldığı ya da kayıplar yaşandığı dönemlerde kişilerin biraz geri çekilip genel çerçeveyi gözlemlemesi daha sağlıklı işlemler alabilmesinin önünü açacaktır.

Bitcoin on Track for Record Sideways Action, With Eyes on November Elections as Bullish Catalyst

Bitcoin’s boring price action, characterized by continued accumulation by small investors, is being attributed to several reasons. including the U.S. election uncertainty and renewed uptick in the U.S. Treasury yields.

Bitcoin is two weeks away from marking its longest-ever period in a sideways market range since its April halving, demoralizing bulls positioned for a bigger rally in the final quarter of this year.

“285 days have passed since the bitcoin halving,” CryptoQuant founder Ki Young-Ju said in an X post Friday. “If there is no bull market in 14 days, this will mark the longest sideways post-halving in history.”

Halvings happen about every four years and decrease the block rewards to miners. Bitcoin halving has always been associated with bull rallies, with asset prices increasing by several hundred percent in the months following previous events.

Prices tend to rise with fewer new bitcoin in the open market as long as demand remains constant or increases. BTC jumped above $73,000 to new lifetime highs ahead of the April 14 halving – with some targeting a continued rally to as high as $160,000 by the end of this year. However, prices have largely fluctuated in the $59,000 to $65,000 range since then, nearing a 300-day sideways action record from 2016.

Bitcoin’s boring price action, characterized by continued accumulation by small investors, is being attributed to several reasons, including the U.S. election uncertainty and renewed uptick in the U.S. Treasury yields.

“The higher bond yield move and SPX at record highs are helping to push USD higher, but it is coming at the expense of crypto, where BTC is back to hovering at around the 60k level again,” shared Augustine Fan, head of insights at SOFA, in a Telegram message to CoinDesk on Friday.

“Finally, defunct Mt. Gox’s fresh announcement that it has extended its repayment deadline by a year to Oct 2025 might help to alleviate some supply pressures in the short-run, but it appears that BTC will be in a holding pattern here heading into the final weeks of the election,” Fan added.

Republican candidate Donald Trump is viewed as crypto friendly. He is associated with the new decentralized finance project World Liberty Finance, while the Democratic party is considered less friendly toward the market. A Republican victory is widely expected to fuel a higher Bitcoin move.

Markets often enter a sideways phase where traders and investors reassess their positions, leading to a balance between buying and selling pressures.

Bitcoin would need to break and remain above the $69,000 level to be considered a bullish breakout above the current range, as per CoinDesk market analyst Omkar Godbole. A breakout would mean a resumption of the broader uptrend from October 2023 lows and shift focus to $100,000, a level anticipated by options traders.

Sideways movement can be interpreted as periods of accumulation (where investors slowly buy up supply without moving the price much) or distribution (where they sell off their holdings in a similar controlled manner). This typically leads to a period of high volatility.

Bitcoin is coming out of a seasonally bearish period of August and Septermber, where investors do not make big moves, to a historically bullish October. A CoinDesk analysis shows most gains in October arise in the second half of the month – usually after October 16.

But market strains remain. The U.S. Securities and Exchange Commission (SEC) earlier this week charged multiple market-making and trading firms on consecutive days – igniting debate on whether the crypto market could face more trouble in the weeks before the November elections.

(Omkar Godbole contributed insights.)

Arkham’s Token Soars 16% on Report Sam Altman-Backed Crypto Firm Plans Derivatives Exchange

The company also relocated to the Dominican Republic, Arkham CEO Miguel Morel confirmed to CoinDesk.

Blockchain data company Arkham Intelligence’s token (ARKM) surged 16% on Friday on a report that it plans to launch a crypto derivatives exchange next month.

Arkham’s trading venue aims to target retail users and compete with other derivatives venues such as exchange giant Binance, Bloomberg reported citing a person familiar with the matter. The company has also relocated from London and New York to the Dominican Republic, where the upcoming marketplace will operate and is in the process of obtaining a license

Arkham CEO Miguel Morel confirmed in a Telegram message the firm’s relocation to the Caribbean island country, but said “no comment” on the derivatives exchange plans.

The crypto derivatives market has booked $3 trillion trading volumes last month, more than double of the size of the spot market, according to a CCData report. The implosion of FTX, however, dealt a significant blow to the sector, while market leader Binance’s dominance sank to a four-year in September.

Arkham’s platform is a popular tool for following blockchain transactions and identifying entities behind crypto wallets. The company raised $12 million from investors including OpenAI CEO and founder Sam Altman, big-name VC investors Peter Thiel and Tim Draper, and major crypto companies Coinbase, Wintermute and Digital Currency Group (DCG), according to Crunchbase’s database.

The firm rolled out a marketplace last year for on-chain intelligence offering bounties to identify crypto addresses. It also released its own token that’s used for bounty payments, which now boasts a market capitalization of $420 million, per CoinGecko data.

Recently, Arkham stroke a sponsorship deal with Turkish football club Galatasaray, following other crypto firms’ footsteps into sports sponsorships to expand their brand to a broader public.

Bitcoin Bounces 7% Above $63K as Crypto Traders Eye China Stimulus Statement

Solana’s SOL, Avalanche’s AVAX and Render’s RNDR led the crypto rally as almost all but one member of the CoinDesk 20 Index posted gains.

Cryptocurrencies sharply rebounded on Friday from the previous day’s lows with bitcoin (BTC) retaking $63,000 as investors quickly shrugged off worries over slightly hotter inflation readings, turning their attention to a fiscal policy update from China on Saturday.

Bitcoin, the leading crypto asset by market capitalization, shot up 7% from Thursday’s trough below $59,000 after the hotter U.S. CPI inflation report, bucking this week’s trend of giving up gains during the U.S. trading hours. Recently, BTC was up 5.5% over the past 24 hours, outperforming the broad-market CoinDesk 20 Index’s (CD20) 4.7% advance.

Tokens from Solana (SOL), Avalanche (AVAX) and Render (RNDR) were the leaders among altcoin majors with 6%-8% gains. The only token of the CD20 index with a negative daily return was Uniswap (UNI), which slightly shed some of its Thursday gains that were spurred by the decentralized exchange’s plan to launch its own layer-2 network.

The crypto rally happened as equities also gained, with the Dow Jones Industrial Average and S&P 500 closing the week at record highs. The U.S. dollar index paused below 103 after steeply strengthening over the past week as traders repriced expectations of further Federal Reserve interest rate cuts following solid U.S. jobs reports and hotter inflation readings.

Crypto-related stocks also reflected the positive sentiment. Bitcoin miners including MARA Holdings (MARA), Riot Platforms (RIOT) and Bitdeer (BTDR) soared 5%-10%, while U.S. crypto exchange giant Coinbase (COIN) ended the day up 7%.

MicroStrategy (MSTR), the largest corporate holder of BTC with nearly $16 billion of the asset, surged 16% to its highest price since March 2000. The company’s share price premium versus its bitcoin holdings also broadened to the widest since 2021.

China fiscal policy update may move crypto

Macroeconomic factors influencing crypto prices have shifted away from monetary policy to the U.S. election outcome, Coinbase analysts David Duong and David Han said in a Friday report.

The key catalyst for crypto volatility might be the upcoming China fiscal policy update by the finance minister slated for early Saturday UTC. Investors anticipate more financial stimulus for the ailing Chinese economy and financial markets, which could reverberate in the digital asset market, the Coinbase report noted.

“As most markets will be closed during this next briefing, we expect traders could turn to crypto markets as a way to express their (proxy) views on the size and strength of China’s fiscal announcements,” the authors said.

Markus Thielen, founder of 10x Research, noted that recent U.S. economic data shows a resilient economy and jobs market, allaying past concerns over an imminent recession.

“This sets the stage for risk assets to perform well into year-end, and it may take little to drive crypto prices higher,” Thielen said. “A significant move is likely on the horizon, and diligent traders will be well-positioned to capture it.”