, with users being asked to withdraw their funds as soon as possible. The decision to exit the Dutch market occurred after the exchange failed to obtain a virtual asset service provider license.
Despite the worsening crypto regulatory environment, two derivatives metrics indicate that bulls are not yet throwing in the towel. Nevertheless, they'll likely have a hard time breaking the bearish price formation to the upside.Perpetual contracts, also known as inverse swaps, have an embedded rate that is usually charged every eight hours.
A positive funding rate indicates that longs demand more leverage. Still, the opposite situation occurs when shorts require additional leverage, causing the funding rate to turn negative.The seven-day funding rate for BTC and ETH is neutral, indicating balanced demand from leveraged longs and shorts using perpetual futures contracts.
BNB was the only exception, with traders paying up to 1% per week for short bets, which can be explained by the added risks after regulatory scrutiny over the Binance exchange.The Tether premium is a good gauge of China-based crypto retail trader demand. It measures the difference between China-based peer-to-peer trades and the United States dollar.
Excessive buying demand tends to pressure the indicator above fair value at 100%, and during bearish markets, Tether’s market offer is flooded, causing a 2% or higher discount.The Tether premium in Asian markets fell to 99.2% after being flat since June 6, indicating moderate discomfort. Reports on June 16 onDerivatives metrics displayed resilience considering the strong regulatory activity aimed at crypto exchanges.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »