After 2 straight days of new ATHs, Bitcoin (BTC) looks to settle/consolidate at a new range; while it's already 7 days 'in the green' - up +29.34%. The burst to 20,000 level also saw trading volume of BTC at its highest since mid-March peaking at $71B on Dec. 17 and is currently around $58B. Looking at the higher timeframes, the daily and weekly chart are both looking parabolic with possible resistance at 23,400 - 23,800, but too early to call as bulls are still taking control of majority of the market. Closest trail support is around 21,300 (10 EMA trail).
Global market cap is at $659B, while BTC's market cap is at $427B.
Amid the ongoing bull run that has seen Bitcoin (BTC) reach and surpass its all-time high, Bitcoin options are also hitting a new historical milestone - as volumes crossed $1 billion o December 16. Bitcoin options are derivative contracts that grant the holder the right, but not the obligation, to buy or sell BTC at a predetermined price. Major global crypto futures and options exchange Deribit led the way with $879 million in BTC options volume on the 16th, with Bit.com coming a far second with about $84 million in volume. OKEx rounds out the top three BTC options platforms on the list with $62 million. The Bitcoin options market has seen parabolic growth 2020, with weekly volume in January only at around $200 million.
Bitcoin options open interest, or OI - which stands for the total number of contracts outstanding in the market and not yet settled - also hit a high, reaching almost $6 billion on December 16, surging from around $600 million in January.
Ethereum 2.0 (Eth2) is now the 4th largest proof-of-stake network by total value locked in staking (TVL) as nearly $1 billion of ETH has already been designated for staking. According to crypto aggregator Staking Rewards, around 1.5 million ETH (1.35% of ETH's supply) has been deposited for staking. The rewards for staking ETH are currently around 13.20%, which means that a single stake of 32 ETH has potential earnings of around $2,725 over 1 year at current price around $645.
The top staking network by TVL is currently Polkadot, with nearly $3.4 billion or 67.51% of its supply designated for staking. Cardano takes the 2nd spot, with $3.37 billion or 65.53% of its supply designated for staking.
Coinbase has announced on Dec. 17 that the firm has sent its draft registration for an Initial Public Offering (IPO) to the Securities and Exchange Commission (SEC). "The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions", the company wrote. According to a Cointelegraph report, there's no information about the Form S-1 yet as it is confidential for the time being.
Coinbase's last valuation in 2018 was $8 billion. The firm is known as one of the biggest names in crypto and has a reputation of having a good relationship with U.S. regulators.
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