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The recent risk revival in traditional markets and cryptocurrencies may not sustain as the U.S. central bank is still fighting inflation, the Singapore-based crypto options trading firm said. Source
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Inside sources at QCP Capital reported a sizable stake stuck with FTX as the ill effects of the exchange’s collapse prevail. Crypto trading platform QCP Capital reportedly has at least $97 million trapped with collapsed crypto exchange FTX. Inside sources also claim that QCP has been trying to sell its claim to distressed asset
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Ether followed a similar pattern to bitcoin, falling earlier in the day before rebounding. The second-largest crypto by market value was recently changing hands at about $1,275, a small gain from Sunday, same time. Most other major cryptos were in the green, with MATIC, the token of layer 2 platform
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"We say this because the two-year Treasury yield, which has been a reliable indicator of the market's direction all year, is, in fact, moving in line with BTC and ETH, while the S&P 500 and Nasdaq have rallied away," QCP said in Monday's market update. Source
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The average daily burn recently declined to a record low of 1,206 ETH per day. That's barely 9% of the record daily burn of 13,269 ETH registered in January. Meanwhile, 13.6 million ETH, amounting to 12% of the circulating supply of 120 million ETH, is locked in the Beacon chain,
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First Mover Asia: Crypto Sell-Off Due to Fed Hawkishness, Possible Jump Dump of ETH, Says QCP Capital; Cryptos Decline Slightly in Monday Trading Source
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“DeFi has been big, GameFi has been big, and options have always taken a backseat,” Darius Sit, cofounder at QCP Capital, said at a Korean Blockchain Week panel attended by CryptoX. “But this year, and going forward, is going to be more interesting because the space is getting more institutional.” Source
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While a correlation between equities and crypto has become more apparent during the last year, Singapore’s QCP wrote that there is a limit to this correlation because of the increasing importance of the crypto options market.As the bitcoin and ether markets followed the bearish sentiment of the equities market as
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Decentralized finance (DeFi) is fast becoming a preferred avenue to hedge smaller cryptocurrencies beyond bitcoin (BTC) and ether (ETH), as leading centralized derivative exchanges like the Chicago Mercantile Exchange and Deribit remain fixated on the two market leaders.Singapore-based QCP Capital, an early investor in the dominant centralized crypto options exchange
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