Here's how altcoin futures volumes and the USD lending rate signal market cra...
Data shows that the dollar lending rate and futures volumes of select altcoins can be tracked to pinpoint overheated markets before a crash. Every once in a while, a new indicator pops out that can be used to detect price tops and bottoms in the market. This assertion is even more evident in cryptocurrencies because the data comes from exchanges and on-chain data extracted from the blockchain.These indicators are constantly monitored and commented on by analysts and traders. Some of the lesser-known metrics use data from altcoin derivatives volumes and the Bitfinex U.S. dollar lending....
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A stable funding rate paired with a record-high $20.3 billion open interest on BTC futures suggest that the current rally has room to extend higher. After hitting a $43,000 local low on Feb. 28, Bitcoin (BTC) price rallied 28% to retake the $57,000 level on Mar. 10. As the Feb. 21 to Feb. 23 massive $5.9 billion liquidations caused by excessive long leverage seem long gone, futures contracts reached a $20.3 billion all-time high.This time, as Bitcoin rallied to $57,000, there seems to be no signs of retail FOMO (fear of missing out) buying, at least from the perspective of futures and....
The Binance Futures funding rate overtook Deribit on Dec. 18, which has historically led to Bitcoin to consolidate or pull back. The Bitcoin (BTC) futures funding rate on Binance Futures overtook Deribit on Dec.18, according to data from CryptoQuant. Historically, when this happened, the dominant cryptocurrency saw a local top or consolidation.The funding rate of major cryptocurrencies, including Bitcoin and Ether (ETH), rose considerably in the past 48 hours. This typically indicates that the futures market is overheating, which raises the probability of a pullback.Binance Funding vs.....
Ethereum futures data suggests that pro traders believe $3,500 ETH is the next stop for the top altcoin. As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise.Some analysts might dismiss Ether derivatives, considering CME's future has $355 million in open interest compared to Bitcoin's $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these....
Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet. Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin.Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market....
After launching its crypto lending service in late 2020, SBI has now added support for XRP. Japanese financial services firm SBI Group has enabled XRP lending through its cryptocurrency-related subsidiary, SBI VC Trade.According to a Feb. 4 announcement, SBI VC Trade Lending users can now earn interest by depositing their XRP holdings between 1,000 and 100,000 XRP, with the lending period lasting up to 84 days.“VC Trade Lending is a service that allows customers to rent out their crypto assets to the company and receive interest rewards according to the quantity and duration of the crypto....