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🗞 Bitcoin Options Volume on CME Jumps 300% as Traders Take Bullish Bets
Activity in bitcoin options listed on the Chicago Mercantile Exchange (CME) surged Wednesday as investors traded call options, or bullish bets.
According to data source Skew, the CME traded $48 million worth of options during the day, the highest daily volume figure since July 28.
The number marks a 300% rise from Tuesday's figure of $12 million.
"The CME options had a strong session, and the spike in the volume was mainly due to increased activity in call options,"* Skew's CEO Emmanuel Goh told CoinDesk over Telegram.
Bitcoin is currently trading near $10,600, trapped in a narrowing price range for the third week.
A breakout would imply an end of the pullback from the August high of $12,476 and would expose resistance above $11,000.
🗞 Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment
Square, the payments company helmed by Twitter CEO Jack Dorsey, announced Thursday it has purchased 4,709 bitcoins, a $50 million investment representing 1% of the firm’s total assets.
"Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose," the company said in a statement.
"We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Square CFO Amrita Ahuja. "For a company that is building products based on a more inclusive future, this investment is a step on that journey."
🗞 Solana Builds Bridge to Take DeFi Pressure off Ethereum
Wormhole is a cross-chain bridge that allows projects to get the speed of Solana without totally leaving the comfort of Ethereum.
Solana is launching a bridge to Ethereum called "Wormhole."
The scalability blockchain thinks it has applications for DeFi.
It believes projects can leverage Solana's high speeds and avoid Ethereum's congestion.
According to the press release, teams comfortable operating in Ethereum don’t need to learn Solana to use Wormhole, which “connects ETH and ERC20 tokens to SPL tokens”—the native token of Solana.
🗞 Google Cloud Does Not Intend to Take EOS Rewards as a Block Producer
Google Cloud is not getting into EOS for the tokens.
"“Google Cloud is not getting into crypto mining. This is really an infrastructure play for us,” Google Cloud Developer Advocate Allen Day told CoinDesk via a spokesperson."
As for Google, Day said, “We’re broadly interested in open-source protocols and distributed ledger technologies, which is why we’re joining the EOS community,” adding:
"There isn't a revenue model for Google Cloud in connection with participating in open-source protocols. Of course, various protocols provide rewards to incentivize node operators to secure network services, but we don't intend to claim those rewards at this time."
🗞 DeFi Continues Exponential Growth Despite Price Woes
DeFi assets are losing value fast, but usage continues to grow.
Most major DeFi assets have lost significant value in recent weeks.
But the number of DeFi users continues to grow at an exponential pace—mostly due to Uniswap's performance.
The total value locked (TVL) in DeFi platforms continues to growth despite the price woes.
The last month has seen practically all major DeFi assets enter a significant price decline, after many of these assets reached their all-time highest values in September.
Most major DeFi platforms, including Kyber Network, Compound, 1inch, Aave, and OpenSea have grown their userbase substantially in recent months, and are still experiencing roughly linear growth.
🗞 Daily Crypto Calendar, October, 8th💰
StormX (STMX)
"Convert your STORM tokens to the new format. The migration is possible until October 8th, 2020."
Elastos (ELA)
"Chainlink is hosting a Live Q & A with #Elastos VP of Development, @ClarenceLiu86 on Oct 8th."
Polkadot (DOT)
"We are pleased to announce new Crypto Asset that will be added to the Indodax marketplace, DOT @Polkadot."
Loki (LOKI)
"We've decided to move the #SaltySaga hardfork date to October 8. This date may change again."
Aion (AION)
"Matt Spoke will be doing a video AMA on Thursday, October 8th from 2-3PM EST!"
MesChain (MES)
"We will be listed on a Korean exchange on October 8, 2020."
Synthetix Network Token (SNX)
"This Thursday (October 8, beginning around 1am UTC) an upgrade is being deployed with several major protocol improvements."
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