🔥 All about the 45th Binance Launchpool project - AltLayer
> Altlayer is a decentralized protocol that develops a restaking layer for projects like EigenLayer and supports rollup layers like OP Stack, Arbitrum Orbit, Polygon CDK
> Was one of 4 projects receiving investment from the MVB program season 6 of BNB Chain. The possibility of MVBs going to Launchpool / Launchpad is quite high, please keep an eye on the remaining projects
> Raised $22.8M in capital through 2 private rounds at $0.008 and $0.018 respectively
> Backer: All giants like Polychain Capital, Binance Labs, Jump Crypto, Balaji Srinivasan (former CTO Coinbase), Gavin Wood (Co-founder of Ethereum & Parity),...
> Supply: Total ALT supply is 10 billion tokens and circulation at listing is 1.1 billion tokens ~ 11% of total supply, allocated to Launchpool (5%), Project (3%), Ecosystem and Community (3 %). Team, Investor & Advisor are locked for 6 months and gradually open over 4 years
Bitcoin Long-Short Rate Hits Multi-Month High on Binance 🧐
The ratio between long and short Bitcoin positions on Binance Futures has increased to its highest level in months. This metric is considered a measure of investor anticipation, with a high Long-Short ratio indicating that many investors have more positive expectations about Bitcoin's price.
Over the past 24 hours, the Long-Short ratio increased sharply to 2.86 even though Bitcoin has lost gains since more Bitcoin spot exchange-traded funds (ETFs) were approved. The current index is relatively high, because if the number of Long and Short traders were equal, the index would be 1.
Last week, before many spot Bitcoin ETFs were approved, the Long-Short ratio was as low as 0.86. However, after approval, the rate increased as traders speculated about the asset's potential price increase.
Coinglass data shows the same, showing more Long positions than Short. This derivatives data analytics platform puts the current Long-Short ratio for Bitcoin positions on Binance Futures at 2.63.
UPDATE: After 2 days of trading, Bitcoin Spot ETF has a total of:
- About $1.4 billion of money coming into funds (not including GBTC).
- GBTC has $579 million exit.
- Think $818 million in cash flow into ETF funds after just 2 days, very successful.
BTC price has adjusted, returning to the level about 1 week ago. For those of you who follow the channel, the adjustment is not surprising. In fact, whether there is a Bitcoin Spot ETF or not, we are still waiting for an adjustment, we just don't know when the adjustment will happen and we haven't called yet. is no significant adjustment at all. Remember, when the gold ETF was approved, the large-cap gold market still corrected by 10%.
If there is inflow into the Bitcoin Spot ETF, who is selling? The answer is that we are seeing some people taking profits and some mining companies taking this opportunity to sell before the halving based on data from Glassnode and CryptoQuant (Thuan will share more in tomorrow's video).
All of these are short-term fluctuations, guys. The number of GBTC sellers will also decrease over time, in the medium term, Wall Street firms will instruct employees to introduce and sell Bitcoin Spot ETF and in the long term, Bitcoin Spot ETF will be part of investment funds. big.