The Block
There are twice as many bitcoin call options as put options set for the Nov. 8 options expiry, the first expiry following the U.S. election, according to Deribit CEO Luuk Strijers.Derivatives traders expect brief, but significant bitcoin price volatility around the time of the U.S. presidential election on Nov. 5, Strijers added.
Quick Take AI memecoins endorsed by the Truth Terminal chatbot, such as GOAT and FARTCOIN, have seen a double-digit price drop. The wider AI memecoin market cap dropped by over 2% in the past 24 hours, according to Coingecko data.
The market for tokenized Treasuries is growing and could challenge stablecoins’ dominance, JPMorgan analysts said.However, analysts noted that regulatory restrictions and liquidity concerns suggest tokenized treasuries may only partially replace stablecoins.
Analysts at BitMEX Research argued MicroStrategy is “highly unlikely” to be forced to sell its bitcoin based on the current debt structure, but “anything is possible.”MicroStrategy stock traded at a 25-year high of $235.89 as of Thursday’s close, having gained more than 10% for the day.
Quick Take So far, Farcaster’s monthly revenue in October stands at $15,825 — a ~96% drop from its peak monthly revenue in February. In May this year, it raised $150 million in its Series A, with a reported valuation of $1 billion.
According to an analyst, the potential for adverse regulatory intervention remains a major obstacle to the broader adoption of tokenized money market funds among institutional investors.The analyst added that while there is growing institutional interest in using tokenized assets like BlackRock’s BUIDL as collateral in crypto derivatives trading, adoption hinges on regulatory clarity and developing foundational infrastructure.
Quick Take Polymarket’s claim there is no evidence of market manipulation on the platform supports the view that prediction markets reflect all available information at a given moment, analysts at Presto said. However, amid huge slippage for one Polymarket bettor on Friday, open interest levels suggest the market lacks liquidity, Kaiko analysts noted.
Quick Take Microsoft placed an “assessment in investing in bitcoin” on the voting ballot ahead of its 2024 annual shareholder meeting in early December. The company notes the board of directors recommends voting against the proposal, in a filing with the SEC.
Quick Take Ripple Labs filed its pre-argument statement in a civil appeal on Thursday. The company requested the appeals court to review whether the previous court judgment appropriately applied the Howey test in evaluating XRP transfers, among other things.
