News & Research

Open interest in XRP and SOL futures on the Chicago Mercantile Exchange (CME) has reached a record high of $3 billion, CoinDesk reported. The outlet noted that this indicates strong investor demand for regulatory-compliant cryptocurrency products.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world's top three crypto futures exchanges, ranked by open interest: Overall: Long 49.79%, Short 50.21% 1. Binance: Long 49.5%, Short 50.5% 2. Gate.io: Long 51.84%, Short 48.16% 3. Bybit: Long 48.87%, Short 51.13%

Bitcoin is undergoing a short-term correction ahead of the upcoming FOMC meeting, though market analysts see continued potential for an upside. On-chain analyst Ali Martinez suggested that if BTC breaks through $120,000, weakened upward resistance could open a path to $143,000, CoinDesk reported. Trader Michaël van de Poppe described the current downturn as a normal correction rather than a trend collapse, explaining that a rebound is possible if support at $112,000 holds. Meanwhile, on-chain analytics firm Glassnode identified the current price zone as a key consolidation range, noting that recent buying pressure is concentrated around $111,000, with selling pressure near $117,000.

An anonymous address that participated in the Ethereum ICO has deposited 1,500 ETH, worth $6.02 million, to the Kraken exchange, according to Onchain Lens. The address originally invested $6,220 to receive 20,000 ETH during the ICO, a holding now valued at $80.3 million.

Cryptocurrency investment firm Canary Capital filed the seventh amendment to its application for a spot Solana (SOL) ETF with the U.S. Securities and Exchange Commission (SEC) on Oct. 28. The proposed management fee for the fund is set at 0.5%.

U.S. spot Ethereum ETFs recorded a net inflow of $244 million on Oct. 28, marking the second consecutive day of positive flows, according to Trader T. Fidelity's FETH led the inflows with $99.27 million, followed by BlackRock's ETHA with $74.74 million and Grayscale's Mini ETH with $73.03 million. In contrast, Grayscale's ETHE experienced a net outflow of $2.66 million.

U.S. spot Bitcoin ETFs recorded $202 million (289.5 billion won) in net inflows on Oct. 28, marking the fourth consecutive trading day of positive flows, TraderT reported. Among the funds, Ark Invest's ARKB led with $75.84 million in net inflows, followed by Fidelity's FBTC with $67.05 million and BlackRock's IBIT with $59.14 million. No ETFs experienced net outflows during the day.

Over the past 24 hours, the cryptocurrency market has seen the following forced liquidations in perpetual futures: - BTC: $114 million, with long positions accounting for 64.89%. - ETH: $158 million, with long positions accounting for 71.73%. - SOL: $58.76 million, with long positions accounting for 69.18%.

Strategy (MSTR) will become one of the safest companies on Earth if Bitcoin is recognized for its value as the world's best collateral, according to a post on X by Joe Burnett, a Bitcoin strategist at Semler Scientific (SMLR). Burnett explained that the integration of BTC into the traditional credit system is still in its early stages. He noted that Strategy holds a massive collateral asset in its $72 billion worth of BTC, which is traded globally, can be settled in minutes, and has no counterparty risk. The company also holds $8 billion in long-term convertible bonds and $7 billion in preferred stock. Despite these holdings, Strategy has the same B- speculative-grade rating as the airline JetBlue (JBLU), which generates almost no free cash flow. Burnett argued that credit rating agencies have not yet caught up with this shift, adding that Strategy's rating will be re-evaluated once BTC's value as collateral is acknowledged. S&P Global Ratings recently assigned Strategy its B- rating.

A very long-term Bitcoin holder, who has been liquidating holdings, deposited an additional 200 BTC ($22.52 million) to Kraken, Onchain Lens reported. The address, which begins with 1E2JG2, has deposited a total of 5,803 BTC ($649.6 million) to exchanges over the past two weeks. Deposits to exchanges are typically interpreted as an intent to sell.