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
The platform’s founders reached out through social media and email to say DappRadar would soon stop tracking blockchains and DApps. DappRadar, the analytics platform that provides data on the decentralized application (DApp) industry, said it is ceasing operations seven years after it launched. In a Monday X post, DappRadar founders Skirmantas Januškas and Dragos Dunica said they would be winding down the platform. The pair said that “running a platform of this scale became financially unsustainable in the current environment,” and said it plans to stop tracking blockchains and DApps “in the coming days” as it begins to shut down. The notice said the platform would communicate separately regarding how it would handle its native RADAR token and its decentralized autonomous organization (DAO). The token price fell about 30% immediately following the shutdown announcement, reaching about $0.00072 at the time of publication, according to data from Nansen. Read more
After weeks of reporting Bitcoin purchases hovering around 400 to 500 BTC, Michael Saylor’s company announced a massive crypto investment on Monday. The company behind the largest Bitcoin treasury announced it had returned to buying large amounts of the cryptocurrency following a $835 million purchase. In a Monday filing with the US Securities and Exchange Commission, Michael Saylor’s Strategy reported acquiring 8,178 Bitcoin (BTC) for about $835 million. The purchase represented a significant increase compared to the company’s BTC investments in October and earlier in November, which it reported to be about 400-500 coins per week. The acquisition came amid significant volatility in the price of Bitcoin. According to data from Nansen, BTC price fell by about 11% in the previous seven days, reaching $94,191 at time of publication. Read more
More than 148,000 Bitcoin have been sold at a loss by short-term holders, adding fuel to analysts’ predictions that BTC price will fall under $90,000. Key takeaways: Newer Bitcoin investors sold over 148,000 BTC at a loss on Friday. Analysts agree that pushing Bitcoin’s price below the Jan. 1 open at $93,000 could trigger a fresh downtrend to areas below $90,000. Read more