Despite a $1 trillion crypto wipeout, a Coinbase executive said Bitcoin’s decline is structural and not bearish since few fundamentals have changed since its September price peak. Key takeaways: Bitcoin fundamentals remain intact despite the $1 trillion drop in the crypto total market cap. Long-term holders and institutional investors continue to absorb Bitcoin’s distributed supply. Read more
Bitcoin futures flip negative for the first time since March as internal flows surge and the market downturn deepens. The Bitcoin futures-to-spot basis has fallen into negative territory, signaling a significant shift in trader sentiment toward de-risking. Futures are now trading below the spot price for the first time since March, erasing the premium that typically reflects strong demand for leverage. This transition into a futures discount phase suggested that Bitcoin (BTC) traders are increasingly unwilling to take on risk, instead pricing BTC’s short-term outlook lower. Key takeaways: Read more
A hedged SOL staking model underpins the new yield product, debuting amid rising institutional demand for regulated access to Solana’s network rewards. Figment and OpenTrade have introduced “OpenTrade Stablecoin Staking Yield,” a new stablecoin yield product that targets a yield of 15% by utilizing Solana staking returns, with Crypto.com providing custody for the underlying assets. According to Monday’s announcement, institutions deposit and withdraw stablecoins, while the yield is produced by Solana (SOL) staking rewards and an offsetting perpetual-futures hedge run by OpenTrade. Deposits and withdrawals are handled through Figment’s platform, with the strategy executed in an OpenTrade-managed vault. Figment said the strategy has historically delivered returns above Solana’s typical 6.5% to 7.5% staking rate. Read more