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🌙 BTC Rallies to $61K, but Traders Are Still Skeptical

Bitcoin futures and options metrics are neutral despite BTC reaching its highest price in 3 weeks.

Author

Mike Gavela
September 17, 2024

Crypto Roundup - September 17

Bitcoin continues to rally, reaching $61K, but derivatives traders remain cautious due to concerns over market stability and liquidity issues. Meanwhile, crypto markets are experiencing heightened volatility as the Federal Reserve's rate decision looms, causing uncertainty among investors. In a significant development, Coinbase's Base Layer 2 blockchain shattered transaction records, processing over 4.5 million transactions in a single day, reflecting the increasing activity and adoption of Layer 2 solutions.

Top Stories

  • Bitcoin rallies to $61K, but derivatives traders remain skeptical due to liquidity concerns.

  • Crypto market volatility rises as the Federal Reserve's interest rate decision approaches, fueling investor uncertainty.

  • Coinbase's Base Layer 2 sets a new record, surpassing 4.5 million transactions in one day.

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TOP STORIES

Bitcoin rallies to $61K, but derivatives traders are still skeptical — Here is why

Bitcoin futures and options metrics are neutral despite BTC reaching its highest price in 3 weeks.

cointelegraph.com/news/bitcoin-rallies-to-61k-but-derivatives-traders-are-still-skeptical-here-is-why

Crypto market volatility is rising as Fed rate decision approaches: analysts

Ahead of the Fed's interest rate decision on Wednesday, analysts report rising cryptocurrency market volatility.

www.theblock.co/post/316607/crypto-market-volatility-is-rising-as-fed-rate-decision-approaches-analysts

Coinbase's Base Layer 2 shatters transaction records with over 4.5 million in a single day

The surge in transactions represents a significant leap from Base's impressive performance, highlighting its rapid adoption and scalability.

www.theblock.co/post/316663/coinbases-base-layer-2-shatters-transaction-records-with-over-4-5-million-in-a-single-day

FUNDRAISING

a16z CSX fund and Lemniscap lead $5.2 million seed round for Fermah

Fermah aims to tackle issues related to zero-knowledge proofs by acting as a marketplace for ZK proof generation.

www.theblock.co/post/316695/a16z-csx-fund-and-lemniscap-lead-5-2-million-seed-round-for-fermah

OTHER HEADLINES

Dragonfly wants to raise $500 million for its fourth fund: report

Dragonfly previously closed $650 million in oversubscribed financing for its third crypto venture fund in May 2022.

www.theblock.co/post/316844/dragonfly-wants-to-raise-500-million-for-its-fourth-fund-report

Circle integrates USDC with national payment systems of Brazil, Mexico

Circle has integrated its USD-pegged stablecoin USDC with Brazil and Mexico’s national real-time payment systems. 

cointelegraph.com/news/circle-integrates-usdc-national-payment-systems-brazil-mexico

TON Foundation collaborates with Curve Finance to incubate stablecoin swap project

The TON Foundation has announced a partnership with Curve Finance to incubate a new TON-based stable swap project.

www.theblock.co/post/316824/ton-foundation-collaborates-with-curve-finance-to-incubate-stablecoin-swap-project

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