Kraken's Chief Policy Officer Jonathan Jachym discusses in a podcast the CFTC's regulatory attempts on spot cryptocurrencies, the entry of Hyperliquid into the US market, and the significance of the Bitnominal model. (Source: CoinDesk)
The nominal transaction volume of Papertrade exceeded 80 billion US dollars within one hour of its launch, but due to its loss to token mechanism, users accumulated a loss of 4.73 million US dollars. At present, the LP scale exceeds 2 million US dollars, and PAPER token emissions have entered a decay mode.
The net exposure of hedge funds to the US stock market Magnificent 7 has risen to 22%, reaching a historic high and surpassing the peak of 21% in June 2024, an increase of 7 percentage points from July this year. At the bottom of the bear market in 2022, this indicator was 8%. Large scale liquidation may trigger a sharp reversal and impact the S&P 500 index perpetual contract market, and a decrease in risk appetite may put pressure on Bitcoin. (Source: Hupzy)
Tom Lee stated that Ethereum (ETH) is expected to rise to $25000 to $50000 during this bull market cycle, and is expected to break through $5000 by the end of this year; If the price of Bitcoin exceeds $100000, ETH is expected to rise to around $7500. Market traders are cautious about this expectation, as data shows that traders believe the probability of ETH rising to $5000 by the end of 2026 is only 4%.
