Phantom Wallet, with 7M monthly users, has integrated the Sui blockchain, marking its first support for a Move-based network and a significant step for Sui’s ecosystem. 

Daily Top Performer — Morpho Protocol (MORPHO)

The S&P 500 fell 0.19% as investors awaited the November jobs report, which may influence the Fed's anticipated rate cut. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 8.2%, with Bitcoin and Ether rising by 0.17% and 0.40%, respectively in the past 24 hours.

Today's top performer is MORPHO, which surged 54.0% following the launch of DeFi Saver's Automated Leverage Management for Morpho on Base.

Morpho Protocol (MORPHO), founded in 2021, is a decentralized Ethereum-based lending protocol that enhances crypto lending through a P2P order matching system. It allows customizable lending markets and features Morpho Vaults for various risk levels. Initially launched in 2022 with Morpho Optimizers for Aave and Compound, it later introduced Morpho Blue in 2024 for flexible lending markets. Morpho Labs continues to focus on developing Morpho while still supporting the original Morpho Optimizers. 

, enabling Automated Leverage Management. This includes Auto-Repays for unwinding and Auto-Boosts for leveraging up based on set threshold ratios. Users can configure their positions easily. The feature is available for several Morpho markets, such as cbETH/USDC, wstETH/USDC, and more, with additional markets to be added in the future.

Check Out the Latest Prices, Charts, and Data of 

Phantom Wallet, with 7M monthly users, has 

 the Sui blockchain, marking its first support for a Move-based network and a significant step for Sui’s ecosystem. This expands Phantom's multichain support beyond Solana, Bitcoin, and Ethereum, offering Sui users features like staking, swaps, and NFT storage across mobile and browser platforms.

Yesterday, BTC Spot ETF flows recorded a $148.8M outflow from GBTC, partially offset by a $145.0M inflow to non-GBTC funds, resulting in a net outflow of $3.8M.

" hints at a potential $FUEL airdrop happening earlier than expected, despite the Fuel points program running until January 2025. Speculation surrounds whether this refers to the airdrop or another development.

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Phantom Wallet Expands Multichain Support with Sui Integration

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

BTC has finally surpassed the $100K mark, leading to increased bullish positioning in derivatives markets. This reflects strong sentiment and a desire for upside exposure in perpetual swaps and futures. Short-term implied volatility has risen as traders seek options to capitalize on the rally.

Please check out the report’s highlights.

BTC's successful breach of the $100K barrier has led to a noticeable return of perpetual swap markets to all-time high open interest levels, although the response has been somewhat muted. Earlier in the week, perpetual swap markets shifted their focus to ETH after BTC's repeated failures to break through $100K. While funding rates for both derivatives remained high and positive, open interest in ETH contracts increased at the expense of BTC positions prior to the breakthrough. Additionally, ETH trade volumes have constituted a larger-than-usual market share.

BTC Calls See No Significant Influx Post-$100K

The sudden rise in spot prices has triggered a sharp increase in demand for short-tenor options, as traders seek exposure to the upward movement. BTC's term structure inversion has driven short-tenor implied volatility levels above realized volatility. Although implied volatility for BTC is lower than that of ETH, open interest data shows that the influx of call option open interest in BTC markets wasn’t as significant as for ETH. Nevertheless, BTC's volatility skew remains strongly bullish.

ETH's options market showed the most bullish positioning ahead of the overnight spot move, while the perpetual swap markets for both major cryptocurrencies reflected strong positive sentiment. Open interest is heavily weighted toward OTM calls, signaling a robust preference for upside exposure as realized volatility starts to catch up to implied volatility. This demand for upside exposure is evident for both tokens, particularly with ETH's remarkable increase in call option open interest over the past 24 hours.

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 5, 2024): After BTC Turns $100K, Investors Are Still More Bullish on ETH

The cryptocurrency market is experiencing unprecedented growth, particularly in major assets like XRP, Cardano (ADA) and Stellar (XLM).

The cryptocurrency market is experiencing unprecedented growth, particularly in major assets like XRP, Cardano (ADA) and Stellar (XLM), whose tokens have seen substantial price increases (XRP up 444%, ADA 280% and XLM 512%). This surge is being driven largely by aggressive accumulation from whale investors, as well as cautious but optimistic sentiment in the crypto community. 

Meanwhile, interest in meme coins is declining as investors shift focus to more sustainable projects. The integration of AI in blockchain ecosystems and the emergence of hyperliquid token generation events (TGEs) are also reshaping market dynamics, indicating a transformative phase for cryptocurrencies.

Significant Growth in Major Cryptocurrencies

The report highlights impressive price increases for several major cryptocurrencies:

Despite these gains, general sentiment in the crypto community remains cautiously optimistic.

 activity is a key factor in current crypto market dynamics:

Since mid-October, there’s been considerable accumulation of Bitcoin by whale wallets, which have added a total of 91,856 BTC. This accumulation has played a substantial role in driving up BTC’s price.

In contrast, there’s been a decline in stablecoin holdings among these wallets, suggesting a strategic shift toward investing in cryptocurrencies, rather than choosing to hold stable assets.

The following several emerging trends are reshaping the cryptocurrency landscape.

Overall, our report underscores a transformative period in the cryptocurrency market, characterized by significant asset growth, strategic whale behavior and the integration of advanced technologies.

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Whales Accumulate Bitcoin as It Reached $100K; Emergence of AI Agent

Our monthly option volatility report delves into insights from options volatility to inspire your next crypto move.

Option volatility outlines a compelling narrative for Bitcoin as it approaches the $100K milestone. Leading up to the U.S. election on Nov 5, 2024, Bitcoin's implied volatility experienced a dramatic surge, with short-term implied volatility rising approximately 25 percentage points above post-election expirations. This spike indicated strong bullish positioning in the derivatives market as traders sought to capitalize on anticipated price movements driven by electoral outcomes.

In the immediate aftermath of the election, there was a sharp decline in short-term volatility, aligning with a rally in spot prices that, in turn, led to higher realized volatility. However, the decline in implied volatility didn’t reflect a long-term bearish sentiment — instead, it suggested a temporary easing of uncertainty regarding the election results. The term structure of implied volatility demonstrates a complex relationship: while short-term volatility dipped, longer-dated options remained stable above 50%.

The call/put skew indicates strong demand for bullish call options relative to bearish puts since the election, reflecting heightened upside exposure during BTC and ETH rallies. However, when BTC retraced to $91.3K, the skew shifted 6% toward puts, signaling bearish sentiment. This was inconsistent with futures markets, in which prices remained above spot levels, indicating ongoing bullishness. The skew toward OTM puts arose from increased demand for protective hedges, rather than from a lack of call interest. Ultimately, this suggests traders believe any sell-off would be temporary, supporting the idea that volatility is necessary in order for BTC to reach the $100K mark.

In contrast to Bitcoin, Ethereum (ETH) has emerged as a more consistently bullish asset in recent weeks. While both BTC and ETH exhibited similar volatility patterns immediately following the election, Ether has shown notable resilience and increased momentum, particularly in the wake of Gary Gensler's resignation. This political shift has positively influenced ETH’s market dynamics, resulting in a stronger demand for ETH options.

Ether outperformed Bitcoin during critical market events, including both the election and ETF announcements in 2024. Following Gensler's resignation, ETH gained significant traction, with traders increasingly focusing on Ethereum as a more attractive investment. This shift is evident in the significant drops in the ratio of BTC-to-ETH spot price, indicating that traders are reallocating their preferences toward ETH.

The divergence in implied volatility between BTC and ETH options further underscores this trend, as the ratio of implied volatility for ETH options has surpassed that of BTC, reflecting a stronger demand for ETH optionality. Historically, ETH has exhibited higher volatility compared to Bitcoin. This recent uptick in ETH's implied volatility reestablishes the typical pattern of ETH commanding a premium in the options market.

Moreover, the skew in options pricing has shifted in favor of calls for both BTC and ETH, but ETH's skew has remained more robust. This suggests a stronger bullish sentiment for ETH, as traders are positioning more aggressively for its price appreciation compared to that of Bitcoin. As the market continues to evolve, Ethereum's increasing dominance and the bullish signals from its options market position it as a leading contender in the cryptocurrency landscape, making it likely to outperform Bitcoin in the near future.

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Bybit X Block Scholes Option Volatility Report: November Option Volatility Report: Volatility on the Road to $100K

Altcoins

XEN Crypto is an EVM-compatible ERC-20 token designed to be a universal cryptocurrency for all users.

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Are you fascinated by the world of cryptocurrency but feel overwhelmed by the challenges many projects face, such as pre-minting, whale activities and overbuying? With solutions that address these challenges head-on, XEN Crypto is the brainchild of the Fair Crypto Foundation, and it's earning a reputation as the cryptocurrency for the masses. Boasting low entry barriers and impressive features, this project deserves a closer look. Let's dive in and discover what sets XEN Crypto apart.

 designed to be a universal cryptocurrency for all users

. It embraces the core blockchain tenets, including transparency, self-custody and decentralization. The project runs on the 

 network without pre-minting, origin wallets, admin keys and other features that disadvantage some investors and users. Instead, the free minting function is open to all users via Ethereum-compatible wallets. 

XEN’s founder, Jack Levin, designed the platform to stand apart in other vital ways. For example, XEN is a censorship-resistant crypto that is immutable and has open-source code on the Ethereum blockchain. There’s no management team involved, so it’s truly a trustless community project. The XEN smart contract platform applies the same unchangeable rules to all users to ensure equitable distribution of new tokens and community growth.

 (PoS) protocol, XEN Crypto’s Proof of Participation (PoP) consensus mechanism means that anyone who spends time and energy minting tokens benefits from self-custody. The user maintains full ownership of those tokens, and the token’s value is specifically tied to community participation through the PoP protocol. 

Anyone can join the XEN Crypto community by connecting their wallet to the XEN 

, after which they can immediately start the free minting process. While some cryptocurrencies are used for gaming mechanisms, lending and more, the purpose of XEN cryptocurrency is simply for exchange. The tokens can be staked, traded or even used to purchase NFTs and other items.

XEN’s smart contract platform is designed with community growth in mind. The XEN team has created its unique features to remain true to blockchain’s original intent, which is rooted in security, transparency, self-ownership and other core values. Compared to other cryptocurrencies, XEN has one of the lowest barriers of entry with a free mint function. But that's not all — XEN has other impressive qualities that make it a top choice for crypto enthusiasts.

XEN is launched with zero supply, with no pre-mining or token sale. The community controls the minting of tokens through a free process. There’s no need to first deposit XEN in order to mint tokens. The free mint function is initiated when you connect an Ethereum-compatible wallet to the XEN smart contract. While minting is free, users may have to pay gas fees.

Initially, the XEN token is inflationary, with no cap on the supply. However, as the adoption of XEN Crypto increases, the token will become disinflationary as more people take advantage of minting tokens. Uniquely, this project has no investors, and the XEN token had no intrinsic value at its launch.

The XEN minting process can be compared to that of Bitcoin. Specifically, for both XEN Crypto and Bitcoin, as new participants become active, it becomes increasingly challenging for newcomers to mint new tokens and earn rewards. 

When using the free mint function, you can set a time period for receiving your XEN tokens, with longer periods resulting in more tokens. The smart contract will then give you a XEN rank (cRANK), which is determined by the number of individuals who have interacted with the XEN smart contract before you. As you invite more people to join the minting process, your XEN rewards will also increase. 

Further, once the minting steps are completed, a progressive penalty will be applied to those who wait longer than 24 hours to claim their tokens, and the tokens' value will decrease by 99% only seven days after the initial claim period. The purpose of this policy is to avoid a price crash that may occur if a user claims multiple rewards at one time. 

To maximize return, a XEN minter can stake their holdings up to a maximum of 1,000 days. While the APY for the staking rewards starts at a high of 20%, after every 90 days from the launch of XEN the percentage will decline by 1%, and by the 1,620th day, the APY will be fixed at 2%. While you can unstake at any time during the staking period, you won’t receive any APY rewards if you do so. 

XENFT is a non-fungible token (NFT) stored in 

, a smart contract that can be used on any EVM-compatible blockchain. There are three types of XENFTs: Common (or Ordinary), Limited and Rare. Rare and Limited XENFTs have a built-in burning mechanism that decreases the total supply of XEN. The burning of XEN is accelerated through its 5% royalty fees on secondary markets, such as 

, of which 2.5% are used for buyback and burn.

XEN seeks to create utility for its token and encourage mass adoption through XENFTs, which can be used to mint XEN in bulk. XENFTs are created during a special XEN staking process, and cannot be unstaked before the mint term ends, unlike regular XEN staking.

You can acquire XEN in a few straightforward steps, without special software or equipment. 

 and select your preferred network. XEN supports up to 10 well-known blockchains, including 

. Next, connect your wallet to the XEN DApp. XEN supports multiple wallets, including Ledger and Exodus. Then, state how many days you want to wait, and claim your cRANK before receiving your tokens. Sign the transaction and pay the gas fee, and wait till the end of your term before claiming your XEN. 

You can create as many accounts as you wish to mint XEN. However, you can only claim one cRANK per account at a time. Once the process has been completed within one account, you can repeat it in that same account. But if you wish to mint multiple times, you can use XENFTs to mint in bulk.

As of Apr 11, 2023, the current price of XEN is $0.000003. This represents over a 270% price increase in the last 30 days. While various fluctuating factors directly impact crypto prices, expert insights about the future value of a token could be helpful. 

, the price of XEN may hit $0.000011 by the end of 2025 and continue to increase to $0.000032 by 2030. Meanwhile, 

 a slower though steeper climb for XEN, forecasting that the price of XEN may reach $0.0000083 by the end of 2025 and $0.000054 by the end of 2030.

Since XEN’s launch, the token’s price has progressively declined until very recently. If you’re thinking about a long-term hold for your XEN tokens, it’s important to note that many experts don’t believe its value will reach $1, either within the next decade or beyond. One reason is that a typical XEN minter may be inclined to unstake their holdings and sell them for a profit.

However, XEN's price has risen since XEB implemented its burn feature, which removes burned tokens permanently from the total supply. When the burn function began, XEN transitioned from an inflationary to a deflationary token. It also created a use case for XEN, as the burn mechanism results from the minting of XENFTs. Both of these developments have created a price rally that may continue. The increasingly challenging minting process for new XEN also enhances this upward pressure. 

In addition, Levin, the XEN founder, has recently placed the project on the Bitcoin blockchain so that XENFTs can be inscribed on it, which will make the NFTs permanently on-chain as 

. Known as XENtoshi, the project is still in development. Bitcoin will become XEN’s 11th chain at the time of its launch. 

XEN Crypto's cutting-edge design and features have garnered considerable interest since its inception. Nonetheless, the token's worth had been decreasing until recently. However, its shift to a deflationary token and upcoming developments have the potential to turn things around, presenting an opportunity for investors and users to explore XEN Crypto’s upward potential.

XEN Crypto: Toward a Transparent and Fair Crypto World

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards