17 January

“Expectations for bitcoin’s (BTC) price over the next six months have turned positive in another sign of confidence in the cryptocurrency’s latest bull revival.

Bitcoin’s 180-day call-put skew has crossed above zero for the first time since the start of 2021, indicating that bullish call options expiring in six months have become pricier than bearish put options. Both short-term and long-term call-put skews have turned positive.

This is a measure of market sentiment and flows, because it encapsulates what people are willing to pay to acquire an asymmetric payout on either the upward or downward direction of the market.

The bullish sentiment is also evident from the renewed premium in bitcoin futures listed on the Chicago Mercantile Exchange (CME). The cryptocurrency ended last week with a 21.9% gain, the biggest percentage rise since February 2021.”

“According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade. The token is projected to be issued in the form of a stablecoin backed by gold, according to Alexander Brazhnikov, executive director of the Russian Association of Crypto Industry and Blockchain.

The stablecoin aims to enable cross-border transactions instead of fiat currencies like the United States dollar, the Russian ruble or the Iranian rial. The report notes that the potential cryptocurrency would operate in a special economic zone in Astrakhan, where Russia started to accept Iranian cargo shipments.”

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“The Seoul Metropolitan Government has launched its Metaverse Seoul project, allowing residents of the South Korean capital city to access city services in a virtual environment.

According to the mayor, the online environment will be a “place of communication for citizens” of the capital city, allowing them to virtually visit many of Seoul’s attractions, access official documents, file certain complaints and receive answers to questions on filing municipal taxes.”

“Upcoming network Shibarium will soon join the ever-growing fray of Ethereum-based layer 2’s, such as Arbitrum and Optimism. Developers said Shibarium would have a focus on metaverse and gaming applications, especially as the NFT sector is expected to heat up in the coming years.

The move could further bolster the fundamentals of Shiba Inu’s three ecosystem tokens: shiba inu (SHIB), leash (LEASH) and bone (BONE), which together command over $5 billion in market capitalization. Each transaction on Shibarium will burn a certain amount of SHIB tokens, but the specific amount has not been decided yet.

Shibarium’s validators will lock up BONE to run the Heimdall validator, software that provides an overview of transactions, and Bor block producer nodes, a program that allows the integration of Ethereum. The number of validators are limited to 100 slots. Validators are also required to stake a minimum of 10,000 BONE and all rewards will be paid in BONE.”

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“Wintermute, the large crypto market maker, was quick to distance itself from a new fundraise by the co-founders of bankrupt hedge fund Three Arrows Capital (3AC), echoing similar sentiments from the community.

The co-founders of Three Arrows Capital, Su Zhu and Kyle Davies partnered with Mark Lamb and Sudhu Arumugam, co-founders of crypto exchange CoinFlex – which is going through a restructuring process – to raise $25 million for a new exchange called GTX. GTX said it plans is to create an exchange where users can trade crypto, stocks and debt claims on bankrupt companies like FTX.

Disgraced fraudsters teaming up with other disgraced fraudsters to trade claims from a collapsed fraudulent exchange.”