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| Formation Fi ETH 
| #FORM
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| FORM Price: | $0.00227 | | Volume: | $88.5 K | | All Time High: | $0.46 | | Market Cap: | $1.1 M |
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| Circulating Supply: | 472,885,268 |
| Exchanges: | 3+
| | Total Supply: | 1,000,000,000 |
| Markets: | 5
| | Max Supply: | — |
| Pairs: | 8
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The price of #FORM today is $0.00227 USD.
The lowest FORM price for this period was $0, the highest was $0.00227, and the exact current price of one FORM crypto coin is $0.00226706.
The all-time high FORM coin price was $0.46.
Use our custom price calculator to see the hypothetical price of FORM with market cap of SOL or other crypto coins. |
The code for Formation Fi ETH crypto currency is #FORM.
Formation Fi ETH is 1.8 years old. |
The current market capitalization for Formation Fi ETH is $1,072,058.
Formation Fi ETH is ranking downwards to #883 out of all coins, by market cap (and other factors). |
The trading volume is modest today for #FORM.
Today's 24-hour trading volume across all exchanges for Formation Fi ETH is $88,525. |
| The circulating supply of FORM is 472,885,268 coins, which is 47% of the total coin supply. |
| Note that there are multiple coins that share the code #FORM, and you can view them on our FORM disambiguation page. |
Building Better Blockchain Brotherhoods By Blocking Bias / B.S.
Executive Summary We provide two tenets that are essential to building better decentralised organisations., We elaborate upon the two tenets by providing seven pillars on which the two tenets rest. These pillars also serve as clarifications for the principles summarised in the tenets., The overarching goal of this article is to improve productivity in organisations engaged in developing blockchain technology., An unintended yet welcome consequence of integrating these tenets and pillars into the DNA of any decentralised project is that people can come and go, products might come and go, but the protocol will stay., Clearly, the concepts mentioned here can be applicable to organisations outside the decentralised realm as well. We conclude with a colourful verse, recited hundreds of years ago, that perhaps captures the essence of what we are trying to express., — The Two Tenets - The more people (sentient beings?) we include the more successful we will be., The more the focus, of the people we include, on real problems the more successful we will be., The Seven Pillars Upholding The Two Tenets Focus on real problems is simply doing things without Bias and / or B.S. (Bull Shit)., Bias is not being able to see things clearly. B.S. is dishonesty, which is seeing something but saying it is something else [1]., The more we focus on real problems, the more involved we will naturally become towards finding superior so... 
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Formation Fi is Bringing Risk Parity to the Defi Party: Parity is Live on Mainnet
We are pleased to announce that Parity is now live on Binance (BSC) mainnet after the successful completion of several rounds of tests in the testnet environment. Our Risk Parity Product is the first investment vehicle that will provide diversified returns, tailored to the risk appetites of each investor, entirely on a highly secure blockchain environment. Alpha, Beta and Gamma are our three main funds with different levels of risk and expected returns. Our investment mandates will be to ensure that, under most circumstances, Alpha will be more risky than Beta and Beta will be more risky than Gamma. Investors will be able to combine the three funds depending on their risk appetites using our Graphical User Interface (GUI). Mixing Alpha, Beta and Gamma will give the Risk Parity portfolio. Risk Parity will generate returns for investors that factor the risk of the individual assets, with each asset contributing equally to the overall risk of the portfolio. The end result will be a decentralized investment fund, which will tailor the preferences of each investor, providing diversified and risk adjusted returns. This superior risk management and yield enhancement happens with all the assets being maintained on-chain, following standard blockchain practices, while being secured from both external and internal incursions. Please see our roadmap for the many exciting features we are developing for our investors, Roadmap: Essential Wh...
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ALPHA and BETA outperformed BTC in the past 3 months with higher return and lower risk
The official result is out and it’s impressive. Alpha and Beta performed better than BTC. Granted that we are in a crypto winter cycle. But, you can’t argue with data. Risk Parity works in defi for the past three months. Our risk parity investment system has started to lay the foundation for a solid track record. The second version of our Alpha Fund (Alpha V2) was launched for community testing on July 5, 2022. Our Beta fund has also been live since July 5, 2022 for community testing. The product has gone through a significant amount of internal and community testing on the mainnet environment across three chains with real money by the team members. Below we provide a brief summary of the performance of our investment funds.Period: July-05–2022 to October-11–2022 Formation Fi Investment Fund Performance Updates — as of Oct-12–2022 From Inception (July 5, 2022) till Oct 11–2022, Alpha and Beta have achieved a return of around 7.36% and 9.64% respectively. As a point of comparison, we note that the Bitcoin (BTC) return for the same time period is around -5.4%., The key aspect to highlight is that Alpha and Beta have outperformed BTC by around 12% to 15% while their risk has been lower. Risk, as measured by volatility or the standard deviation of returns, has been around 51.47%, 55.73% and 57.49% for Alpha, Beta and BTC respectively. Keeping with the usual convention, the volatility figures have been annuali...
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Meet Member #7 of the Eiffel Team
Smart Contract Developer Note: “to protect the privacy of our team, we will be using nicknames throughout interviews after the first article of this series. This is done precisely because some of our team members have other professional commitments and/or hold public office that preclude them from pursuing certain work or interest outside their capacities.” Formation Fi’s AK came on board in March 2022 as our smart contract developer. He was deeply drawn to the project for a number of reasons but he was mainly attracted to working with us because of just how unique a project it is. As he explains: A unique proposal “I found that the project was very different to other DeFi projects. It was a new proposal. This concept doesn’t exist yet on the DeFi. The concept was an opportunity. Indeed, Formation Fi offers users a completely unique new way of investing in DeFi by allowing the user to choose his own risk. Moreover, I was interested to work with a team with such technical skills.” AK reflects on this: “It’s the future of cryptocurrency hedge funds. It uses different strategies: lending, exchanges, derivatives, yield farming, …” Extensive time creating smart contracts AK’s background began studying computer science before moving on to work in the world of DeFi projects. He has studied at the French University “of Dijon-Auxerre”. During his time working on DeFi projects he developed arbitrage bots. Th...
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Nifty NFT Designs for Friends of Formation FI
HighlightsWe have created seven NFT (Non-Fungible Token) designs that will become available for people that invest into our Parity, Alpha, Beta and Gamma funds.The Parity NFT is minted when a deposit is made into the Parity fund. The investor will hold the NFT for the life of the investment. The Alpha, Beta and Gamma deposit and withdrawal confirmation NFTs serve as receipts when someone makes a deposit or withdrawal request from the corresponding funds. The deposit NFTs will be available only from the time of deposit till the time that the deposited amount is converted to Alpha, Beta or Gamma tokens. The withdrawal NFTs will be available only from the time of withdrawal request till the time that the withdrawn Alpha, Beta or Gamma tokens are converted to USDT / BUSD or USDC respectively.The images given in this article are smaller and simpler illustrations. Our social media postings on Twitter will have the more exotic animated versions of these designs. Investors can deposit USDT, BUSD and USDC on Ethereum, Binance and Polygon respectively to participate in one of our fund pools: Parity, Alpha, Beta and Gamma. We have created seven NFT (Non-Fungible Token) designs that will become available for people that invest into our Parity, Alpha, Beta and Gamma funds. A discussion of when these NFTs will be minted or burned and what information they will contain is given here. The images given below are smaller and simpler illustrat...
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Meet Member #6 of the Eiffel Team
Director of Trade Execution, Investment Reporting and Risk Management Note: “to protect the privacy of our team, we will be using nicknames throughout interviews after the first article of this series. This is done precisely because some of our team members have other professional commitments and/or hold public office that preclude them from pursuing certain work or interest outside their capacities.” Benjamin Button began his career working in largely traditional financial and investment services. His background in data science meant that he was hugely experienced working on the technical aspects of financial products for high net individuals. Prior to Formation Fi he worked in product management at hedge funds, as well as risk management and managing credit and FX risk across investment services and portfolios. He is also currently publishing some of his data science work, with a number of conferences regarding it scheduled for the summer. Moving into a new sphere But he was always keen to move into more alternative spaces. As he explains: “I’ve been looking for an opportunity to do something in the startup space for some time- so I’d been probing and checking out different people- and this sounded like an interesting endeavor , it was an opportunity I didn’t want to let go by.” Consequently, he was naturally very keen to become part of Formation Fi’s work, when he was offered the opportunity to work with...
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Roadmap: Essential When Setting Sail For Uncharted Waters
ROADMAP 2022–2024If a picture is worth a thousand words, a picture with a lot of words must be worth a lot more.Though road generally applies to land, we need to keep in mind that we could be traveling on water or in space or elsewhere. Hence, let us just say a roadmap could be helpful even when setting forth on a journey across uncharted terrain.The challenges on this particular trip (aimed at bringing risk parity to blockchain), make it hard to specify precise dates, but rest assured if an item is on the roadmap we are reasonably certain that it can be delivered successfully. This is simply because for an item to make it to the roadmap a significant amount of time has been spent checking how viable building that particular component is. Also because rigorous analysis, ingenious designing, careful planning, implementing the simplest solution first and then iteratively improving it are some of our core strengths.The following clarifications refer to the items on the Roadmap Picture.The items under “Now” are tasks that we are actively working on and some of which could be close to completion, if not already completed.The items under “Next” are tasks that we are actively designing and some of which could be in early stages of implementation and could be coming to “Now” very soon.The items under “Later” are tasks that we are actively considering and some of which could be coming to “Next” very soon.Where...
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The Community Release of Gamma, Summary Page and Polygon.
Formation Fi Launch of New Products and Community Testing UpdateUpdate of Existing Components in Community TestingAlpha performing without issues and we are ramping up investments on ETH and BSCBeta performing without issues and we are ramping up investments on ETH and BSCMore Testing of Different Scenarios will Continue 2. New Components Added to Community TestingSummary Page for Alpha, Beta and GammaGamma Available on ETH, BSC and PolygonPolygon Mainnet Launch (Alpha, Beta and Gamma)USDC Accepted on Polygon (USDT on ETH and BUSD on BSC) 3. Coming Very Soon for Community TestingParity with User Preferences on ETH, BSC and PolygonHome Page — Comparison of Return, Volatility and Concentration Risk Indicator of Alpha, Beta, Gamma and Top Tokens by Market Capitalization (BTC, ETH, BNB, XRP, ADA, SOL, DOT, MATIC, AVAX)Profit Sharing on ETH, BSC and PolygonWhere to Find Us? Website: https://formation.fi Telegram: https://t.me/FormationFi Twitter: https://twitter.com/FormationFi Medium: https://formation-fi.medium.co
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Meet Member #5 of the Eiffel Team
Lead UI/UX Design and Creative Art Note: “to protect the privacy of our team, we will be using nicknames throughout interviews after the first article of this series. This is done precisely because some of our team members have other professional commitments and/or hold public office that preclude them from pursuing certain work or interest outside their capacities.” Profile for A “The crypto world was totally different and new for me and it looked very exciting,” recalls A, our graphic designer and creator, who joined us back in mid 2020. Background in Fine Art and Design A’s academic background is in fine arts and design. She studied at the Wroclaw Academy of Fine Arts (Master of Fine Arts) and the Maryland Institute College of Art, where her major was in Communication Design. After graduating she worked across agencies and also with big international brands and corporations. These included Nike, Google and Canal+. She has also been nominated and listed for some very prestigious international awards including at Cannes Lions where she was shortlisted for a Cyber- Web Games prize; the Clios on the shortlist for Branded Content and Entertainment, and also for a Webby award in the Best Use of Animation and Motion Graphics category. Crypto presented a new and challenging opportunity then, but one that A was more than happy to rise to. As she explains: “I had to learn everything from the beginning, and that was ki...
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Meet Member #4 of the Eiffel Team
Lead Software Engineering Note: “to protect the privacy of our team, we will be using nicknames throughout interviews after the first article of this series. This is done precisely because some of our team members have other professional commitments and/or hold public office that preclude them from pursuing certain work or interest outside their capacities.” M.F. Profile M.F. came on board with Formation Fi back in September 2021, as one of our Chief Product Architects and Senior Solidity Developer. He brought a wealth of experience to designing the products and leading the development of our smart contracts. A background in computer science and mathematics M.F.’s background is as an engineer in both computer science and mathematics. He has a master’s in operational research, a master in Probability and Statistics from the University of Paris 6 (Sorbonne university), an additional master’s in financial mathematics from the University of Paris and in also one in economics and insurance from the University Dauphine (University PSL). He also holds PhD in applied mathematics from ENS Paris Saclay (Paris-Saclay University), which is ranked first for mathematics in the world. His thesis consisted in the physical and mathematical modelling of very complex physical phenomena. M.F. also brings a business aspect to its significant academic background by studying an MBA in management and business administration also at the Sorb...
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 | New York Considers Bill to Establish Cryptocurrency as a Form of Payment...
A bill has been introduced in the U.S. state of New York to allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as 'a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,' and more.Bill to Allow State Agencies to Accept Crypto Payments
New York State Assembly member Clyde Vanel introduced a bill Thursday that 'establishes cryptocurrencies as a form of payment for state agencies,' according to the bill's description on the New York State Senate website. Assembly Bill A2532 has been referred to the New York State Assembly Committee on Government Operations. According to its summary, the bill:
Establishes that state agencies are allowed to accept cryptocurrencies such as bitcoin, ethereum, litecoin and bitcoin cash as payment.
The bill seeks to amend New York's state finance law by adding 'cryptocurrency as a form of payment.' The legislation defines cryptocurrency as 'any form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank including but not limited to, bitcoin, ethereum, litecoin, and bitcoin cash.'
According to its text, the bill proposes authorizing state agencies to enter into agreements with individuals or entities to accept cryptocurrency 'as a means of payment of fines, civil penalties, rent, rates, tax...
|  | Aptos (APT) Gains 55% In 24 Hours, Maintaining Its Bullish Form For The ...
The crypto market has been remarkably bullish since the turn of the new year. In the last three weeks, several assets have experienced price rallies, like Bitcoin, which gained over 37% to trade above $21,000 for the first time in two months.
While that is an impressive feat, altcoins have been the real stars of the market, with many pulling off a stunning market performance. Aptos (APT), one of the trailblazing tokens of 2023, has just recorded a 54.73% gain in the last 24 hours based on data from CoinMarketCap.
APT has been one of the best-performing coins in 2023, gaining by over 248% since the start of the year. Although it is a relatively new token, Its price growth in 2023 outshines that of many market giants, including Ethereum (ETH), Solana (SOL), Ripple (XRP) and, of course - Bitcoin (BTC).
At the time of writing, Aptos (APT) is trading at a market price of $12.60. According to CoinMarketCap, the token’s daily trading volume has also gone up by 373.99%, attaining a value of $1.82 billion.
APT trading $12.64 | Source: APTUSD Chart on Tradingview.com
What Is Behind APT’s Rise? Aptos was launched on October 22, 2023, making it one of the newest projects in the crypto space. On October 23, the APT token attained its ATH value of $10.25. However, APT began the new year trading at $3.43 due to the FTX crisis that occurred in November.
That said, the dramatic rise in APT’s price so far can be attributed to many factors. One of which is growi...
|  | STEPN and GigaSpace Metaverse Form Strategic Partnership
The two have formed a strategic partnership to build a virtual STEPN city in the GigaSpace metaverse.
The new metaverse GigaSpace has formed a strategic partnership with the move-to-earn fitness app STEPN to build a virtual STEPN City for their community.
Sharing the same vision with STEPN – building a bridge connecting Web2 & Web3, GigaSpace is building a virtual world that is not only designed for Web3.0 parties, but also Web2.0 parties that will dive into Web3.0.
The STEPN City will be a sports-themed city that includes buildings and facilities such as stadiums, shopping malls, and community space, where fans and supporters can buy STEPN merchandise, initiate community events, and interact with each other in a meaningful way.
The virtual City is currently under development and will be available in phases after GigaSpace alpha launch. The objective of this partnership is to provide a virtual space where the fans from around the world can gather easily, not limited by geographical barriers.
Below shows a 24 x 24 plot of land owned by STEPN in the GigaSpace Metaverse.
STEPN & GigaSpace land
About STEPN
STEPN is a Web3 lifestyle app with Social-Fi and Game-Fi elements. Users that are equipped with NFT Sneakers accrue points based on the distance they walk, jog or run, which is tracked through GPS, and then receive rewards in tokens for their progress. The rewards are credited to the user’s wallet as Green Satoshi Tokens (GST), which can be used to level up ...
|  | Bitcoin Is Yet to Form a Resilient Bottom: Glassnode
The world's largest cryptocurrency recorded one of the worst monthly price performances in history in June. This month, too, has been kind to it. The current market structure has many hallmarks of the later stage of a bear market. And while many bottom formation signals have formed, Bitcoin is yet to establish a 'resilient' one that can finally break the streak of correction.
Redistribution of Wealth
During the long drawdown in the market, Glassnode observed a redistribution of wealth among the stakeholders. In short, Bitcoin wealth is being currently distributed from weak hands to strong hands as a result of the ongoing capitulation from retail investors and miners. This potentially indicated that a much-needed bottom may not be very far.
But with the price going under the $30k level, miners and long-term holders (LTHs) have come under substantial stress. According to a recent report by the blockchain analytics firm, the proportion of supply held by this cohort of holders reached above 34%, while the amount owned by short-term holders or STHs plunged to just 3% to 4% of supply.
It is always the LTHs that pay the most brunt in the form of massive unrealized losses. The short-term holders now hold a little over 16% of the supply in the loss. This suggests that freshly redistributed coins must now undergo 'the process of maturation in the hands of higher conviction holders.'
'This indicates that whilst many bottom formation signals are in place, the market still requires an ele...
|  | Report: 42.9% of Turks View Gold as Best Form of Investment, Only 1.9% W...
A new study has found that nearly 43% of Turkish individuals surveyed consider gold to be the best form of investment, while just 1.9% said they would invest in cryptocurrencies. Real estate is the next most-preferred after gold, with 27.4% of the respondents saying they would invest. Fewer Turks Now View Gold as Best Investment
A recent study by Areda Survey has found that a significant number of Turks - about 42.9% - still consider gold to be the best form of investment. The figure is almost 15 percentage points lower than the number of Turkish individuals that viewed gold as the ideal investment in April 2021.
In terms of the gender of those that said they would invest in gold, the study found that 45.9% of the respondents were women, while men constituted 42.2% of such respondents.
Besides gold, the Turkish newspaper Hurriyet reported that Turks' next most-preferred investment is real estate at 27.4%. The number is marginally higher than the 26.9% that said they would invest in real estate last year, the report added.
Foreign Currency Preferred
As previously reported by Bitcoin.com News, Turkey's high inflation rate combined with a depreciating currency has forced residents to switch from the Turkish lira to foreign currencies. According to the May 2022 Areda Survey, 23.7% of respondents said they would prefer foreign currencies when asked the type of instrument they would invest in.
While reports have suggested that Turkey's economic situation is forcing residents to in...
|  | Japan crypto exchange bitbank signs MOU to form institutional blockchain...
bitbank, inc., a Japan-based bitcoin & crypto exchange company, today announced that the company has signed a memorandum of understanding (MOU) with the purpose to establish Japan Digital Asset Trust Preparatory Company, inc. (JADAT) which will be a preparatory company for the purpose of establishing a trust company specializing in blockchain assets.
In the MOU, both parties agree to study the possibility of SuMi TRUST Holdings investing in JADAT.
JADAT will get the know-how of crypto-asset storage management system with bitbank's experience and the know-how of trust business of SuMi TRUST Holdings - a specialized trust bank group.
After the registration by the related authorities based on the Trust Business Act, it is expected to change its business name to Japan Digital Asset Trust, inc.
'In order to expand the domestic crypto-asset market, it is necessary that more institutional investors enter the market. With our strengths - crypto asset storage technology, liquidity of spot trades, strong security - we will contribute to the further expansion of the crypto-asset market, through digital asset trust business with JADAT.'
- The bitbank Team
The post Japan crypto exchange bitbank signs MOU to form institutional blockchain investment company appeared first on CryptoNinjas.
|  | Data: Bitcoin Top 10 Whale Inflows Form Historic Bear Signal
On-chain data shows the top 10 Bitcoin whale inflows are forming a historic bear signal right now, something that could spell trouble for the new rally.
Bitcoin Top 10 Exchange Inflows (Whales) Form A Peak Recently
As pointed out by an analyst in a CryptoQuant post, the BTC top ten exchange inflows have showed a bearish formation recently.
The 'all exchanges inflow' is an indicator that measures the total amount of Bitcoin entering wallets of all exchanges during a specific period.
Investors usually deposit their BTC to exchanges for selling purposes. The New York Times Keeps Printing Lies About Bitcoin Mining
Now, the top ten whale inflows seem to be forming a similar peak again. If the pattern holds true, then this could be a bearish signal for the price of the coin.
However, it's also worth noting that the metric hasn't yet formed a full turn yet, so it could still continue to go up or move sideways and the signal won't go off.
BTC Price
Yesterday, Bitcoin's price finally gained some strong momentum and broke past the $45k barrier. Now, the price is above $47k, a level that the coin hasn't visited since the very start of the year.
At the time of writing, the coin is trading around $47.2k, up 15% in the last seven days.
|  | 17 Crypto Firms Form a Market Integrity Coalition Aimed at Bolstering a ...
On February 7, 2022, a group of 17 digital asset companies revealed they formed an organization called the Crypto Market Integrity Coalition (CMIC). The well-known firms include crypto companies like Coinbase, Circle Internet Financial, Huobi Tech, Bitmex, Cryptocompare, and Solidus Labs. The newly formed group says the coalition is 'committed to a safe and sensibly-regulated crypto industry.' Leading Digital Asset Firms Launch a Crypto Market Integrity Coalition
17 crypto companies and organizations have announced the launch of an advocacy group called the Crypto Market Integrity Coalition (CMIC). The coalition's announcement says the newly formed organization aims to 'cultivate a fair digital asset marketplace' by combating market manipulation and abuse. The coalition plans to 'promote public and regulatory confidence in the new asset class.'
CMIC consists of firms such as Solidus Labs, Coinbase, Circle Internet Financial, GSR, Huobi Tech, Anchorage Digital, Crosstower, Bitmex, Bitstamp, Securrency, Elwood Technologies, Cryptocompare, MV Index Solutions, Global Digital Finance, the Chamber of Digital Commerce, Cryptouk, and Liberty City Ventures. Furthermore, the group is inviting other digital asset industry members to join the CMIC.
'Through the pledge, the coalition seeks to send an unequivocal message at this critical moment in the evolution of digital assets: The crypto industry has made enormous strides to improve market integrity in the past few years,' the CMIC anno...
|  | Fidelity Discusses Future of Crypto Ecosystem — Says Bitcoin Is &l...
Fidelity Digital Assets has released a report explaining why bitcoin is a superior form of money. The report discusses the future of the digital asset ecosystem and compares bitcoin to newer and smaller cryptocurrencies.
Fidelity Says 'Bitcoin First'
Fidelity Digital Assets, a subsidiary of Fidelity Investments, published a report this week titled 'Bitcoin First: Why investors need to consider bitcoin separately from other digital assets.'
The report addresses some concerns investors have including whether bitcoin 'may be vulnerable to innovative destruction from competitors (such as the story of Myspace and Facebook)' or whether the cryptocurrency 'offers the same potential reward or upside as some of the newer and smaller digital assets.'
Report authors Chris Kuiper and Jack Neureuter explained:
Traditional investors typically apply a technology investing framework to bitcoin, leading to the conclusion bitcoin as a first-mover technology will easily be supplanted by a superior one or have lower returns.
They noted, 'Bitcoin is currently the most secure and decentralized network but, at the base or native network layer, it is not the most scalable.' This has led to a boom in the digital asset ecosystem, they continued.
The report proceeds to discuss two dominant narratives for envisioning the future of the digital asset ecosystem.
The first is 'a multi-chain world.' The authors described: 'In a world of multiple winning chains, it still appears that Bitcoin is likely the bes...
|  | Bitcoin Begins To Form A Bottom? Why $40K Is The Next Target
Bitcoin has seen more greens in the last day as it climbs its way back above $39,000. As of press time, BTC’s price was rejected at those levels, but the bulls are showing some conviction and could push further into previous highs.
Related Reading | TA: Bitcoin Near Crucial Juncture: Why BTC Could Surge Further
The first crypto by market cap, at the time of writing, is exchanging hands at a price of $38,654 with a 4.2% profit in 24-hours.
BTC with some profits in the 4-hour chart. Source: BTCUSD Tradingview
In the short term, bulls seem to have the upper hand as market conditions are favorable of a short squeeze. As NewsBTC reported yesterday, the macro-economic factors pushing down Bitcoin will abate for the coming weeks potentially aiding a relief rally into mid-March.
In a recent report, Glassnode identifies a shift in bias from market participants from a majority of long positions during Q4, 2021, to mostly short in January 2022. Despite the recent downtrend, the Open Interest (OI) across the Futures sectors has increased and sits at a nearly two-year high.
Glassnode claims the Futures sector has been seeing a decrease in its trading volume since 2021 standing close to $60 billion a day as Bitcoin reached the low $30,000s. In the meantime, OI records a 1.3% of BTC total market cap which could suggest a deleveraging event is in the making.
In other words, whenever Bitcoin reaches an OI above 1% of its total market cap, BTC’s price is quickly propelled into ei...
|  | UK Lawmakers Form Crypto and Digital Assets Group to Ensure Regulation S...
U.K. lawmakers have formed the Crypto and Digital Assets Group to ensure that new rules for the crypto industry support innovation. 'We are at a crucial time for the sector as global policymakers are also now reviewing their approach to crypto and how it should be regulated,' said the British parliament member who will chair the group.
British Lawmakers Form Crypto and Digital Assets Group
U.K. parliament members and members of the House of Lords have formed the Crypto and Digital Assets Group, the Financial Times reported Friday.
Scottish National Party (SNP) MP Lisa Cameron, who will chair the cross-party group of lawmakers, explained that the group will work to ensure that new rules for the crypto industry 'support innovation.' She detailed:
We are at a crucial time for the sector as global policymakers are also now reviewing their approach to crypto and how it should be regulated.
The new crypto group officially registered with parliament last week. Its members include former Digital Economy Minister Ed Vaizey and Tory MP Harriett Baldwin, a former JPMorgan executive.
Cryptouk, a trade association for digital assets, will serve as the parliamentary group's secretariat. The association has been lobbying lawmakers for a year for positive crypto regulation in the U.K.
Crypto advocates have warned that the U.K. government has been too slow to establish rules for digital asset businesses, which risks driving them offshore. The U.K. financial watchdog, the Financial Conduct Au...
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More Formation Fi ETH (#FORM) News
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Crypto Coin Prices and News 