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Market analysts weigh in on an intriguing ‘flippening’, as Bitcoin futures open interest on global derivatives marketplace CME overtakes Binance. Binance’s dominance of Bitcoin futures open interest has been toppled by traditional derivatives market place heavyweight Chicago Mercantile Exchange (CME), following Bitcoin’s first move past the $37,000 mark in over 18 months. A number of analysts highlighted the ‘flippening’ of Binance by CME, with the latter overtaking the global cryptocurrency exchange for the largest share of Bitcoin futures open interest. Wow, the real flippening that no one is talking about: CME just flipped Binance for the largest share of Bitcoin futures open interest . Bittersweet -- there will soon be more suits than hoodies here. (h/t @VidiellaLaura) pic.twitter.com/SIPRLMlFcy — Will (@WClementeIII) November 9, 2023 Open interest is a concept commonly used in futures and options markets to measure the total number of outstanding contracts. The metric repre...

The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle. Tether (USDT) has emerged as a clear winner amid the ongoing banking crisis and crypto crackdown in the U.S. On April 17, the U.S. dollar-pegged stablecoin's circulating market valuation reached nearly $81 billion, just 1.5% below its record high of $82.29 billion from a year ago. It has grown about 20% year-to-date (YTD) already and is now eyeing new all-time highs. USDT market capitalization monthly chart. Source: TradingView Tether rivals hit new yearly lows USDT's growth came as Tether ate up the market share of its stablecoin rivals, USD Coin (USDC) and Binance USD (BUSD). That is due to crypto traders' belief that Tether's operations have no exposure to the potential banking crisis contagion. For instance, the circulating market capitalization of the USD Coin, the second-largest stablecoin, has dropped over 25% YTD to $31.82 bill...

Explore the economics of cryptocurrency mining and the challenges and opportunities that exist in this rapidly evolving industry. Mining refers to the process of verifying and adding new transactions to a Blockchain network, such as in the case of Bitcoin (BTC) or other crypto currencies. The economics of Mining refers to the economic incentives and costs associated with the Mining process, as well as its impact on the broader economy. The economics of crypto mining are driven by a variety of factors, including cryptocurrency prices, mining difficulty, hardware costs, energy expenses, block rewards and transaction fees. This article will explain economics of mining, including costs, revenues and market trends. Cryptocurrency mining costs The costs associated with cryptocurrency mining can be broken down into several categories: Hardware costs: The price of specialized application-specific integrated circuits (ASICs), for example, can have a big impact on the profitability of mining....