Bitcoin

mirror

<h2 id="quick-take">Quick Take</h2> 
A recent analysis by<a href="https://x.com/woonomic/status/1704531145994719420?s=20" rel="noopener noreferrer nofollow"> Willy Woo</a> draws attention to the rising dominance of paper Bitcoin (futures open interest value) over the real, liquid Bitcoin traded daily. 
According to Woo, we are witnessing a period where the trading of paper Bitcoin exceeds that of liquid Bitcoin by 20-30%. This surge in paper Bitcoin trading effectively mitigates any potential supply shock, even as there has been a noticeable drop of approximately <a href="https://x.com/jimmyvs24/status/1704804632483045806?s=20" rel="noopener noreferrer nofollow">500,000</a> in both liquid and highly liquid Bitcoin supply in recent months. 
This development mirrors a similar situation in the gold market, where the prevalence of a paper or derivatives market has often been viewed as a vulnerability. This is primarily because it provides an avenue for suppressing gold’s value. With Bitcoin seemingly following a similar path, this could suggest an increasing influence of derivative markets on the intrinsic value of cryptocurrencies. 
While the long-term impact of such a shift is uncertain, it underlines the evolving dynamics of the cryptocurrency market, which continues to mirror traditional financial systems unexpectedly. 
<figure style="width: 100%" class="wp-caption alignnone"> 
 <img src="https://pbs.twimg.com/media/F6iuZ6iXoAAaK8U?format=jpg&amp;name=large" alt="Paper Bitcoin vs Real Bitcoin: (Source: Glassnode)" width="1800" height="1013"> 
 <figcaption class="wp-caption-text">
 Paper Bitcoin vs Real Bitcoin: (Source: Glassnode) 
 </figcaption> 
</figure> 
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/paper-bitcoin-trading-volume-outstrips-traded-bitcoin/">Paper Bitcoin trading volume outstrips traded Bitcoin</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Paper Bitcoin trading volume outstrips traded Bitcoin

Зміст

CryptoSlate

Інші статті, опубліковані 21 вер. 2023 р.

Tether Spent $420M to Purchase Advanced AI Chip For a Mining Firm's Equity Stake

Chainlink (LINK) Goes Live on Arbitrum One Mainnet, Key Benefits

Algorand Joins Forces with Onramp.money to Boost Global Web3 Ecosystem

Public Blockchains vs. Private Chains: A Dive into Brody’s Perspective at the Real World Summit

What is Bella Protocol? BEL Price Prediction 2023, 2024, 2025 to 2030

Why Is There a Massive Decline In CELH Stock? What To Do Next?

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!