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Plenty for Everyone

Bitcoin traded a touch softer, although there was also plenty of dip buying interest. In the early European trade, Bitcoin was trading in the mid-$17,000 area. The growth in the open interest (OI) has abated somewhat, where stablecoin margined venues have gained market share relative to Bitcoin margined venues. That being said, the volume surged close to $60bln, with Huobi accounting for $13bln and Binance $16bln. 

In the Markets


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Future of Finance

Elsewhere, JPMorgan Chase CEO Jamie Dimon said blockchain will have a pivotal role in the future of finance even if bitcoin, the market-leading cryptocurrency that made blockchain famous, is not his “cup of tea.” Speaking at the New York Times’ DealBook Conference Wednesday, Dimon reiterated JPMorgan’s support for blockchain technology as a potentially transformative financial mechanism. 

Time for a rally?

Of note, OKB, the in-house token for crypto exchange OKEx, rallied more than 13% Wednesday on rumors that the firm’s founder, Mingxing “Star” Xu, had been released from police custody. 

After more than a month of zero completed withdrawals, Xu’s rumored release could mean a return to normal for the exchange. OKB’s primary uses are for discounts on trading fees and collateral for margin trading at OKEx, so its utility depends on the exchange’s viability.

Crypto AM: Longer Reads

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Crypto AM: Technically Speaking in association with with Zumo

Crypto AM: Talking Legal in association with INX 

Crypto AM: Inside Blockchain with Troy Norcross 

Crypto AM: Definitively DeFi

Crypto AM: Founders Series

Crypto AM: Industry Voices 

Crypto AM shines its Spotlight on ByteTree Asset Management 

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