Tuesday, 28 December 2021

Market Summary

Market Summary 28 December 2021

Bitcoin Price: U$50,707.72  (-0.11%)
Ethereum Price: U$4,037.36 (-0.61%)

Kraken CEO says forthcoming platform will enable NFT-collateralized loans

  • Kraken CEO Jesse Powell says the exchange’s forthcoming non-fungible token (NFT) platform will provide services to allow customers to extract additional value from their collectibles.
  • Powell told Bloomberg News that Kraken plans to offer custody services for NFTs, as well as the ability to use NFTs as collateral for loans. 
  • Powell called the functional use of NFTs, such as NFT-collateralized loans, “phase three” of the growing ecosystem for digital art and collectibles. Phase one was speculation and phase two was buying art in a way that directly supported creators, according to Powell. 


Trading volume for bitcoin and ether options grew 443% in 2021

  • The combined trading volume of bitcoin (BTC) and ether (ETH) options increased 443% in 2021, according to The Block Research.
  • In absolute numbers, the combined trading volume of bitcoin and ether options was over $387 billion in 2021, based on data as of December 27. Last year, bitcoin and ether options saw a combined trading volume of over $71 billion.
  • Deribit is the market leader for both bitcoin and ether options trading markets, having a giant share of over 90% as of December 27. 
  • In addition to bitcoin and ether options, bitcoin and ether futures also saw a record trading volume in 2021. Their combined trading volume surged over $32 trillion in 2021 compared to over $7 trillion in 2020, representing a massive growth of 338%.


DODO launches on Aurora to encompass the features of NEAR blockchain

  • In line with the multichain future vision, DODO is expanding the list of networks it is available on. DODO is officially launching on the NEAR Protocol, using Aurora as the Ethereum-compatible scaling solution! Not only that, but DODO have reached an agreement with the NEAR team to have DODO as the ‘blue chip’ decentralized exchange (DEX) on their platform. This unprecedented deal will ensure that DODO has ‘first mover’ advantage in this new and exciting space.

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