Qume Market Mondays — 4th January 2021

Bitcoin

Bitcoin crossed the $34,000 mark as the bullish rally extends into New Year. With more and more global portfolios embracing bitcoin it is crossing its traditional boundaries of being the “New thing” for tech geeks and heavy speculators.

VanEck Associates Corporation is trying to launch ETFs tracking bitcoin. The move comes after the increasing bitcoin adoption rates.

Futures Markets

Source-skew.com

Futures markets are showing good trading volumes. Price in Futures markets went up to $34,896, around $100 above the price in spot markets, triggering leveraged shorts liquidations which dumped the price to $27k price levels. The asset is currently exchanging hands at $31,000 price levels.

Ether

Ether finally crossed the $1,000 price mark, it reached $1,100+ price levels in the rally. Ether is still around $300 short from its last time high.

DeFi

source-defipulse

Total value locked in DeFi markets crossed the $17B mark today. DeFi markets are generating lucrative yields for investors opening up opportunities for retail investors to earn interest on their assets in holding who are staying off trading with spiked up volatility.

Crypto Markets

AUM of Bitwise rose to more than $500M. MicroStrategy and SkyBridge capital are likely to fuel more money in the bitcoin markets, we expect a push following the new institutional investments.

Source-skew.com
Source-skew.com

Looking at the open interest in futures and options markets more investments are to follow. The aggregated open interest in options markets reached $8B the late Sunday.

Traders are keeping their bullish expectations for bitcoin, some claiming it to reach $50k price levels by January end. This week we expect bitcoin to recover to the $34,000 price level.

Trade on Qume.io the world’s fastest crypto derivatives exchange.

--

--

--

The World’s Fastest Crypto Derivatives Exchange

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

YFDAI Partners with The Foundry Incubator

CYLUM FINANCE : THE CONGLOMERATE GATEKEEPER OF HIGH YIELDING METHODS OF TOKENIZATION THROUGH THE…

The WINk Advantage for Players: An Overview of WINk’s Sub-Platform Tokens

YFDAI are pleased to announce our partnership with GovWorld

How to Leverage Social Tokens for Long-Term Growth — Part 2

Some developers have referred to this as an ugly hack, is it accurate?

LET’S EARN: The world’s first sustainable Auto-compounding and Authostaking protocol in crypto.

Daily Report, September 18

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
QUME TEAM

QUME TEAM

The World’s Fastest Crypto Derivatives Exchange

More from Medium

On Chain Report — Volume VI

Week #14 Crypto Market Overview: Is the Crypto/ DeFi winter over?

Bundil EDU: Crypto you should know about!

USDCAD and the BOC interest Rate Announcement