Good morning and greetings from sunny Stockholm.
Here is some recent update via Bankless DAO. You can also follow them via Substack.
Among the recent news are that crypto markets are "showing bullish signals", with Bitcoin and Ethereum breaking out of their bear market trading ranges, and altcoins appearing ready for an upward move. The markets have remained resilient despite FUD surrounding Ethereum and regulatory actions against CZ. Five key indicators suggest a positive market outlook:
- Aggregate open interest on BTC futures has surpassed the pre-FTX high-water mark of $9.9 billion, signifying improved market conditions and liquidity.
- Active daily addresses across major smart contract blockchains have increased by 77% since late August, indicating robust user activity.
- DeFi yields have risen by 94.2% since June, suggesting higher crypto asset prices and increased on-chain trading activities.
- Smart money crypto participants have reduced their stablecoin exposure to its lowest point since May 2022, indicating positive market sentiment.
- The Crypto Volatility Index has reached bull market levels, suggesting diminished expectations of future price volatility.
Overall, the crypto market is leaning towards a bullish state, with investors underallocated and eager to participate in the market's upward trend. The rally is driven by sustainable adoption, high user activity, and increasing DeFi yields.
What is your favorite news for today?
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Algo - NCG6LBALQHENQUSR77KOR6SS42FGK54BZ5L2HFDSBGQVLGYIOVWYDXFDI4
ADA – addr1q9vfs6nqz4xmtnpljwhv4tukyskd2g7enxd87rpugkwwvfun5pnla5d5tes2mvurrc77e7837yd0scrfk063qlha8wgs8d4ynz
Bitcoin 3HbxyDXE9MhNQ8RqsirqgYvFupQzh5Xby2
ETH - 0x8982cdb97bd23f092f78a16a4fc93c5c4607a285
Seeds – vladlausevic
Skycoin – ZxjhWMJRbTNCRQzy5MekZzH4fhdWFCqBP8
Tezos — tz1QrRzkTAKuPKF8dmGW6c1ScEHBUGvoiJBM
