Choppy waters
The Race to 20k
The price action into the key $20,000 level is getting choppy but it is important to keep abreast of the bigger picture and that is ultimately, the trend higher remains firmly intact. Despite the aforementioned choppy price action, the futures aggregate open interest (OI) edged back towards highs printed last week and the OI on the CME is the second largest, with OKEx leading the pack.
However, given the recent trend of stablecoin margined products gaining market share versus Bitcoin margined futures products, suggests that the CME will likely soon surpass crypto native venues. In addition to that, the growing number of traditional firms entering digital assets space will only support the growth of the CME offering.
In the Markets
ETH 2.0
Also, who is not to say that the CME cannot launch BTC-mini contracts, akin to e-mini S&P futures. Elsewhere, the first stage of the next-generation proof-of-stake (PoS) Ethereum 2.0 is now live as of 12:00 UTC Tuesday, according to Beaconcha.in.
The Beacon Chain will be the backbone of a new Ethereum blockchain, a network intended to keep pace with PayPal and Visa in terms of processing speed, while rivaling them in terms of transparency and payment finality.
Eth 2.0 has at least two more technical hurdles to hit its ever-moving timeline: Dynamically breaking the PoS Ethereum blockchain into multiple datasets called “shards” and adopting Rollups, a throughput solution for decentralized applications (dapps).
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