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Bitcoin Futures Expiration, Wuabit Wallet, Twitch & Bitcoin – COIN360
DAILY
March 26  |  1 min read

Indecisive

Coin360 Editorial Team

What started off as a relatively calm trading session, turned into a run and a consequent break of the $3900 level as crypto market participants pre-positioned for the upcoming expiration of CME Bitcoin futures and also reacted to the less than favourable news of a 5.11% rise in BTC’s mining difficulty. In addition, as pointed out by the team at Skew, there is a good amount of Bitcoin expiration options this week - 36,000 options. Trading activity is said to be focused on cleaning the strikes, with a decent size noted at 3500 strikes (puts).

While spot trading is still by far more prominent than options and futures, good size expirations in derivatives markets tend to exert plenty of magnetism are always worth keeping eye on. Looking elsewhere, DAI coin appears to be well supported and, at least for the time being, any talk of more stability fee hikes has quieted down. The total amount of ETH locked in the credit ecosystem has come down from the recent high of 2.10% and currently stands at 2.0652%. Given the modest reduction, all indications are that leverage plays will resume course and support upside price traction by major crypto assets.

Mass adoption has not been easy to achieve for crypto assets, however as reported by CoinRivet, this may soon change. As per the report, Wuabit is a cryptocurrency wallet accessible via a chat interface in WhatsApp and the developers describe it as a ‘software agent’ powered by specialized AI where users simply type in commands like ‘send 0.05BTC to Vera’ and Wuabit will send the cash. By using a service as popular as WhatsApp, Wuabit hopes to propel crypto payments further into the mainstream.

Amazon-owned live streaming video platform Twitch.tv has removed its cryptocurrency payment option for subscriptions. A Reddit user posted the news on Saturday, saying that, while Twitch had allowed users to pay in Bitcoin (BTC) and Bitcoin Cash (BCH) through blockchain payments processor Bitpay, the option has been removed in the last couple of weeks “for all countries.”

Finally, cryptocurrency mining equipment maker Bitmain’s application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX) has officially lapsed.

Note:

  • CME Bitcoin futures will expire on 29.03.19 – Ahead of this week’s expiration, the spread from March to Perpetual contract stands at a mere 3bps, which is to be expected given the expiration in the coming days.

Thank you for reading,

The BeQuant’s Analytics team