Although Crypto trading from Bybit has launched a $100 million fund that will help the crypto industry to resolve its temporary liquidity crunch. The Crypto market is seemed to be volatile at this moment after the fall of the second largest Crypto exchange platform FTX in recent times.
Cryptocurrency exchange platform Binance has tried to come down the present doldrum solutions into the Crypto industry with the help of disclosing the proof of reserves to the public domain with which the price of cryptocurrency Bitcoin has fluctuated to its new low of $15,500.
Cryptocurrency Bitcoin has been trading at around $16,500 on November 23rd after recovering from its nearest low of $15,500.
This has been caused in the crypto market due to the rumors in the market regarding the possible bankruptcy of crypto landing platform Genesis, which has terminated its withdrawal from the platform stating that there will be a temporary suspension of withdraws and the company will very soon in the future.
Although the Genesis platform has been going through a tough time in raising Capital for its cryptocurrency platform its Parent company Digital Currency Group (DCG) owns a big stake in the Grayscale company and this Grayscale holds approximately 633,360 bitcoin as assets of the company. The crypto company grayscale manages these Bitcoins with help of Grayscale Bitcoin trust.
The proof of funds published by the Crypto company Binance with the help of the Merkle Tree system will help the cryptic community to regain trust in the Crypto market. Along with the proof of work Binance also announced that the users of Binance can also verify the Holdings of users and the platform with the help of a new mechanism the Binance platform.
While publishing its proof of reserves statement Binance stated that it is important for all the centralized Institutions to work on transparency and the insurance processes to regain the trust of all the investors in the Crypto market.
What is the present status of the crypto options market?
According to crypto analysts, futures contracts in the fixed tenure are traded at some premium to the regular spot prices in any trading market. This is because there is a seller’s side demand and this work into withholding the settlement for a longer tenure. Although this is considered a regular situation in the monetary markets this is not the situation at this moment in the Crypto market.
In the present situation, it is expected that the traders should analyze the options market along with that they should understanding if Bitcoin will stay at the $15,500 support price. Along with that, it is also a noteworthy thing that a 25% delta skew is considered a telling sign for all the arbitrage desks who are considering overcharging or outside downside protection to the Crypto market.