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Caspian launches cryptocurrency-derivatives after CBOE delists BTC futures

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Caspian launches cryptocurrency-derivatives after CBOE delists BTC futures
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Caspian, the virtual currency trading, portfolio and risk management firm, announced a partnership with Deribit, the crypto-derivatives exchange to launch cryptocurrency futures and options. The partnership marks the first time an institutional platform is providing both futures and options trading in the digital assets class.

Announced on March 20 via a press release, the partnership will see Deribit included in the Caspian ecosystem, which includes “over 30 major crypto exchanges and liquidity providers”.

Deribit, the Amsterdam-based exchange, currently facilitates trading in Bitcoin [BTC] and Ethereum [ETH] options and future contracts along with a Deribit perpetual swap product for the top cryptocurrency. The press release also added that the futures-crypto-exchange also offers “100x leverage and competitive trading fees”.

Caspian will build an application to connect the crypto-derivatives exchange so that it can process “high volumes” and ease the client’s access to the order books. The statement said,

“The Caspian platform connects to Deribit through an advanced API that supports high volumes with ultra-low latency and provides clients with access to the exchange’s full options order book.”

Robert Dykes, the CEO of Caspian, aims to create a crypto-derivatives market that mimics the traditional markets in infrastructure. He stated:

“Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional market.”

John Jansen, the CEO of Deribit, stated that institutional investors will see this partnership as a “gateway” into the cryptocurrency markets and that it will push the wave of crypto-adoption within the derivatives realm.

Caspian is the product of a partnership between Kenetic Capital, a Hong Kong-based cryptocurrency firm, and the American trading services company, Tora. In September 2018, the Caspian project saw a massive $16 million investment from Galaxy Investment, Octagon Strategy, Global Advisors and Bletchley Park and Kenetic.



Coincidently, the Chicago Board Options Exchange [CBOE] delisted their Bitcoin futures contract for March 2019. This delisting will provide a great impetus to its cross-town rival, the Chicago Mercantile Exchange [CME], to capture the Bitcoin derivatives market.

Back in late-2017, the CBOE and CME introduced Bitcoin futures, which lead to a mammoth bullish wave to ensconce the market. Bitcoin rose over the $19,000 mark and the collective market was valued at over $800 billion.





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Bitcoin’s [BTC] dump may have triggered migration of BTCs worth hundreds of millions

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Bitcoin's [BTC] dump may have triggered migration of BTCs worth hundreds of millions
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Bitcoin dropped by 3.55% over 3 hours, an approximate drop of $200, causing many altcoins to dip by more than 8%. Although it might be a coincidence, thousands of Bitcoins started to migrate from wallets to exchanges, wallets to wallets, and exchanges to wallets.

Whale Alert, a Twitter user, pointed out the same in his tweets. A total of  25,000 BTC were sent in under 20 minutes, in multiples of 5000 BTC each, in a wallet to wallet transaction. Two of these transfers were initiated from an unknown wallet [3BYv2L9zCFYpvRQXakqkVWa7JyRw6Q9ZAm] to two other unknown wallets [3PWNGS2357TnjRX7FpewqR3e3qsWwpFrJH, 3CAF6ZjtJKaHiJixViXncTRwG3N5ss9vn4].

These 5 transfers were worth approximately $140 million. The third transfer took place from multiple wallets to a single wallet [3HuUiXmKN3beQSoM97kWjK1fesWWJvKvaZ].

Additionally, there were two massive transactions that took place two hours after the drop; the first transaction involved 14,999 BTC, while the second involved 11,000 BTC.

The former transaction was sent from two wallets to a single wallet [3GaB3nRWA1PLc3XQkkbpVtFwYYZEuMxD4i], which is the balance of the wallet. The latter transaction was similar to the one mentioned above, as the transaction originated from two wallets.

Another transaction containing 9,000 BTC was transferred from 357R3FeNmySYeHuRfyhFd6nMwzoLDdjfwV to 3NmHmQte2rP8pS54U3B8LPYQKkpG1pFF69. The sender has approximately 9,412 BTC after the transfer, while the recipient has 9,000 BTC.

All of the above transactions were worth approximately $332 million. The massive BTCs transferred could be due to the recent fall in the price. It can also be speculated that BTC whales were securing their profits earned from the shorts.

A Twitter user @Emperor_YZ commented,



“and who say the fee is high, just 30,360 sat ($1.67)🤔 for a $82.37 million transfer …”

Another user, @Omarin0, commented,

“It would have also been 1.67$ for a 1.67$ transfer. 100% fee. How nice”

@Emperor_YZ replied,

“wrong, you can use LN or other layer 2 apps to do small amount payments 😎 for BTC base layer, network security is always top priority, L2 is super cheap and can settle at base layer later”





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