LATEST: Binance Hits Record $8.3 Billion in Open Interest

Cryptocurrency futures are witnessing unprecedented growth, with global open interest reaching a new all-time high of $23.3 billion. Binance, a major player in the crypto exchange market, now holds an impressive 35% of this burgeoning market. This signifies a growing confidence among investors who are increasingly turning to digital assets as viable financial instruments.

The surge is driven by robust trading activities and an optimistic outlook towards the crypto market, which continue to attract more participants. Binance’s dominance in this sector highlights its effectiveness in providing a stable and reliable platform for traders seeking to capitalize on crypto volatility.

This milestone marks a significant moment for the crypto industry, demonstrating its resilience and growing acceptance in the mainstream financial landscape. As more investors recognize the potential of cryptocurrencies, the market is set to expand further, promising more innovations and opportunities for growth.

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Wrapped Bitcoin Rises More Than 5% In 24 hours

Over the past 24 hours, Wrapped Bitcoin’s WBTC/USD price has risen 5.3% to $73,559.00. This continues its positive trend over the past week where it has experienced a 3.0% gain, moving from $71,837.59 to its current price. As it stands right now, the coin’s all-time high is $75,128.00.

The chart below compares the price movement and volatility for Wrapped Bitcoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has…

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Crypto candidates fared well on election night

This is a segment from the Empire newsletter. To read full editions, subscribe.

It was a late night for many Americans, including yours truly, as we stayed up well past our bedtimes to watch the outcome of the election. 

President-elect Donald Trump took the lead early on, with the early results playing out in his favor. But, as was proven as the night matured, it wasn’t just a mirage. It felt like — as a non-political reporter who occasionally dabbles — there wasn’t a single swing state with Harris securing a so-called easy win, even in counties that saw Biden, well, trump Trump last election.

Folks over on Crypto Twitter (sorry, X, but Crypto X just doesn’t…

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Bitcoin hits new all-time high on Trump presidential victory

This is a segment from the Empire newsletter. To read full editions, subscribe.

Those who bet that a Trump victory — or at least the first inklings of one — would fuel a new all-time high for bitcoin were right.

Bitcoin markets soared just after 10 pm ET on election night, briefly surpassing $75,000. It was a remarkable move to correspond with a remarkable political comeback for Trump, who earlier this morning was projected to win enough Electoral College votes to become the 47th president of the United States.

According to TradingView data, bitcoin crossed $70K during the morning voting hours before slipping back beneath that level for much of the afternoon trade….

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Donald Trump wins 2024 presidential election

The winner of the 2024 presidential election is former President Donald Trump. 

Fox News first projected the race for Trump, with networks including NBC officially calling the race for him hours later. Wisconsin’s 10 electoral votes put the President-elect over the top at approximately 5:30 am ET.

Trump took an early lead in the night, leading with what’s commonly referred to as the “red mirage.” States primarily in the South were called for the Republican candidate. The popular vote saw Trump with a win of over 70 million. Trump won key states including North Carolina, Georgia, and Pennsylvania.

In a speech before the race was officially called for Trump, the…

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