From new insight on the number of institutional bets on Bitcoin to a push to boost XRP liquidity from Ripple, here’s a look at some of the stories breaking in the world of crypto.
According to new data from Skew Markets, Wall Street traders are increasingly betting on a new Bitcoin rally.
The firm says 870 BTC is now net long. That number was 660 BTC last week – which represents a 30% increase in a matter of days.
Institutional longs at CME – one month high
Could we see a breakout soon 1.5k BTC? pic.twitter.com/y9SmywwVE0
— skew (@skewdotcom) November 2, 2019
Despite the rise in BTC longs, crypto analyst Filbfilb says he believes Bitcoin will drop to $8,500 in the short term to fill a CME futures gap that was created when the markets closed at around $8,700 on October 25th and reopened at around $9,500.
Meanwhile, Bakkt’s physically-settled Bitcoin futures contracts are also on the rise, according to the Bakkt Volume Bot.
The data tracker reveals a sharp rise in the number of futures contracts on the platform over the past week.
Daily summary of Friday’s Bakkt Bitcoin Monthly Futures:
📈 Traded contracts: 623 (+81%)
📅 Day before: 345
🚀 All time high: 1183
— Bakkt Volume Bot (@BakktBot) November 2, 2019
Ethereum, EOS, Tron
The dollar value of cryptocurrency flowing through Tron-based decentralized apps (DApps) is ahead of both EOS and Ethereum.
According to DappReview, $8.6 million worth of Tron (TRX) moved through DApps on the network in the last 24 hours,