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Quick Take The NFT marketplace Magic Eden launched a new platform for Bitcoin Runes. Magic Eden’s Runes Platform, in beta, lets users swap for BTC and buy Runes and Ordinals with their Magic Eden wallet.
Web3 infrastructure provider Ankr has launched the public testnet for its AI-focused Layer 1 blockchain, Neura. Ankr Network’s ANKR token will act as Neura’s native cryptocurrency, with a mainnet launch anticipated later this year.
cLabs, the core developer of the Celo blockchain, has proposed developing its Layer 2 chain using the OP Stack. After evaluating various scaling technologies over an eight-month period, the firm chose OP Stack for development.
Global crypto investment products witnessed a further $206 million in net outflows last week.Expectations the Federal Reserve is likely to keep interest rates at higher levels for longer fueled the outflows, according to CoinShares.
- 08:32Yield Guild Games: YGG tokens can now be transferred on BaseYield Guild Games announced on X that YGG tokens can now be transferred on Base. In addition, the official stated that the zero Gas fee event for YGG on Base will continue from January 6, 2025 to February 2, 2025.
- 08:31The trading volume of Hong Kong's virtual asset ETF today is approximately 31.5 million Hong Kong dollarsHong Kong stock market data shows that as of the close, the total turnover of all Hong Kong virtual asset ETFs today was about 31.5 million Hong Kong dollars. Among them, the Huaxia Bitcoin ETF (3042.HK/9042.HK/83042.HK) had a turnover of 1878.85 Hong Kong dollars, the Huaxia Ethereum ETF (03046.HK/09046.HK/83046.HK) had a turnover of 4.3723 million Hong Kong dollars, Jiashi Bitcoin ETF (03439.HK/09439.HK) had a turnover of 1.0951 million Hong Kong dollars, Jiashi Ethereum ETF (03179.HK/09179.HK) had a turnover of 257400 Hong Kong dollars, Boshi Bitcoin ETF (03008.HK/09008.HK) had a turnover of 186.54 Hong Kong dollars and Boshi Ethereum ETF(03009 .HK /09009 .HK )had a transaction volume of HKD512 .42.
- 08:30Researcher: The spot bull market is robust, and 40% of the options will expire next monthBitget news, Adam, a macro researcher at Greeks.live, shared the options delivery data for November 29 on platform X. 98,000 BTC options expired with a Put Call Ratio of 0.84 and the biggest pain point being $80,000 USD; its nominal value was $94.8 billion USD. Also, 412,000 ETH options expired with a Put Call Ratio of 0.75 and the biggest pain point being $2900 USD; its nominal value was $1.47 billion USD. Bitcoin's attempt to reach $100k was hindered while ETH led the market this week as altcoins rebounded in rotation. As we mentioned in yesterday's Space session too that any risks from Bitcoin’s rally ending were absorbed by Ethereum which has been steadily bullish in spot markets. This week saw over 20% of positions expiring and next month will be year-end options when about 40% of positions will expire causing significant rollovers and Christmas trading could put pressure on implied volatility. The current market atmosphere is very optimistic but institutions are cautious about replicating end-of-2020 trends hence making option markets more prudent.
