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05:08
Nic Carter says BIP-360 should focus on technical quality and quantum resistance objectives
Castle Island Ventures partner Nic Carter stated on the X platform on March 12 that the crypto community's debate over the identity and background of the BIP-360 author is not important. The bitcoin community should focus on the technical quality of the proposal and the public review process. Historically, it is not uncommon for bitcoin developers to be anonymous or use pseudonyms—for example, the identity of BIP-148 author "Shaolinfry" remains unknown, but this has not affected the significance of the proposal. BIP-360 members include Ethan, Isabel, and the anonymous developer Hunter Beast. The proposal aims to eliminate quantum vulnerabilities in Taproot addresses and pave the way for bitcoin's quantum resistance. As the potential risk of elliptic curve cryptography failure gains attention, the community's priority is shifting toward enhancing bitcoin's quantum resistance.
05:04
Bank of England considers revising pound stablecoin regulations
The Bank of England stated that it may adjust its proposed rules regarding GBP stablecoins following industry feedback. (Cointelegraph)
05:03
Ethena arbitrage positions shrink by over 60%, rare long-short balance observed in the crypto derivatives market
ChainCatcher news, since bitcoin plunged to $60,000 on February 8, the arbitrage positions of the decentralized stablecoin protocol Ethena have dropped sharply from over $2 billions to below $800 millions, a decline of more than 60%. Ethena's business model relies on meeting the counterparty demand of leveraged longs in the perpetual contract market. The significant shrinkage in positions means that short sellers and hedgers in the market are filling the roles previously dominated by arbitrage traders. Analyst SoskaKyle pointed out that this shift is mainly due to crypto venture capital institutions and small-to-medium project teams entering the market in large numbers to hedge, in order to protect treasury assets and lock in profits, resulting in crowded trades shorting multiple related tokens. Currently, the long and short positions in the derivatives market are approaching equilibrium. This state is extremely rare in history and difficult to sustain, suggesting the market may be at a critical point of directional change.
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