US-based Coinbase has reportedly agreed to purchase the largest crypto options firm in the world, Deribit. The deal, valued at $2.9 billion, will see Coinbase expand its reach toward crypto derivatives, but parties will have to sidestep a few regulatory hurdles.
Coinbase Moves To Acquire Deribit For $2.9 Billion
After months of horse-trading, Coinbase has inked a deal to acquire crypto options platform Deribit for $2.9 billion. According to a report by the Wall Street Journal (WSJ), the deal will see Coinbase expand the scope of its offerings to include spot, futures, and options.
Joining forces with Deribit will send Coinbase to the top of the rankings for crypto derivatives by options volume and open interest. Deribit holds $30 billion in open interest and trading volumes surpassing $1 billion, with pundits describing the deal as a “steal” for the US-based exchange.
“This is a global step in our global expansion strategy,” said Coinbase in a statement. “With Deribit’s strong international presence and Coinbase’s regulated US and international operations, we’re set to offer unparalleled access to crypto derivatives around the world.”
DeFi Development Corp follows a similar approach to SOL Strategy to issue debt securities to purchase more SOL coins.
SOL price has hinted at a potential parabolic rally in the coming months bolstered by institutional tailwind.
DeFi Development Corp. (NASDAQ: DEFI), a Florida-based blockchain and DeFi-focused company, filed a Form S-3 registration statement with the United States Securities and Exchange Commission (SEC) on April 25, to offer up to $1 billion in securities. According to the SEC filing, DeFi Development Corp intends to register up to 1,244,471 shares of common stock for potential resale by existing stockholders.
“We may sell any combination of these securities in one or more offerings, at prices and on terms to be determined prior to the time of the offering, with an aggregate offering price of up to $1,000,000,000,” the filing noted.
The company noted that the proceeds from the intended offering will be used for general corporate purposes, including the acquisition of Solana (SOL).
Market Impact of DeFi Development Corp’s Move
The strategic move by DeFi Development Corp to raise $1 billion, under the Donald Trump administration, will have a far-reaching influence on the wider crypto market. Furthermore, the validation of the crypto market by institutional investors has helped increase liquidity and enabled ongoing mainstream adoption of digital assets and web3 technology.
The Solana network stands to benefit most from the DeFi Development Corp’s deal. As Coinpedia reported, SOL Strategies intends to raise up to $500 million to purchase more Solana coins in the near term.
Consequently, SOL price will likely continue with bullish sentiment in the coming months, especially if the highly anticipated altseason kickstarts. Moreover, the Solana network has recorded a sharp uptick in cash inflows in the past few months, led by stablecoins such as Circle’s USDC.
The post DeFi Development Corp Files Form S-3 With U.S. SEC to Raise $1B To Purchase Solana (SOL) appeared first on Coinpedia Fintech News
DeFi Development Corp follows a similar approach to SOL Strategy to issue debt securities to purchase more SOL coins. SOL price has hinted at a potential parabolic rally in the coming months bolstered by institutional tailwind. DeFi Development Corp. (NASDAQ: DEFI), a Florida-based blockchain and DeFi-focused company, filed a Form S-3 registration statement with the …
While Ethereum price charts appear gloomy at first glance, a pattern from 2020 is forming that can trigger fresh rallies for ETH. Crypto analyst Carl Moon says the difference between Ethereum’s price and its realized price is a setup for a parabolic rally in the future.
Ethereum Price To Recapture $2,000 Within Days
Crypto expert Carl Moon says that Ethereum’s poor run of form is reaching its end after prices mirrored a historical pattern. According to Moon’s post on X, the Ethereum price currently trades far below its realized price of $2,000.
Realized price, also known as true cost basis, is the average price of circulating assets at their last on-chain transaction.
Moon notes that this is the first time that the Ethereum price has fallen below its realized price in nearly five years. A previous occurrence in early 2020 saw the Ethereum price slump from $283 to almost $100, far below its realized price.
The crypto analyst highlights the impressive rally that followed the slump below the realized price back in 2020. At the time, the ETH price stage a short-term recovery to surge past the $283 mark before going on to cross the $4K mark.
“Ethereum is below the realized price of $2,000. This is a rare event,” said Moon. “The last time this happened was in March 2020, when ETH dropped from $283 to $109. Notice how quickly ETH recovered.”
As ETH grapples with $1,500, Moon says ETH’s price is far below its realized prize of $2,000, a clear signal of bottoming behavior.
Weakening Demand For ETH Despite Cyclical Pattern
Crypto analyst Vasu Crypto has taken swipes at Ethereum over its weakening demand in recent months. The analyst notes while the underlying technology is solid, low demand has negatively affected its price economy.
Per Vasu, new blockchains like Solana, Sui, and layer 2 protocols are aping into Ethereum’s market share. Their speed and lower transaction cost have cast doubt over Ethereum becoming deflationary again.
“The supply is increasing, but there’s no strong demand coming,” said Vasu.
World Liberty Financial is selling off its ETH holdings at a loss, signaling a loss of institutional appetite for the ETH. Standard Chartered lowered their prediction for Ethereum price to $4,000 from $10,000 after a shoddy performance in Q1.
Furthermore, even grimmer predictions continue to hover around the Ethereum price. Bitcoin critic Peter Schiff predicts that an ETH drop below $1,000 is in play given cyclical behaviour from 2022.
Shiba Inu inflows have surged sharply, with data showing a 2,952% increase in large holder inflows. According to IntoTheBlock, inflows rose from 238.91 billion SHIB to 6.42 trillion SHIB on May 7. This indicates a sudden rise in buying activity from addresses classified as large holders.
Surge in Shiba Inu inflows Hints at Rally
According to the IntoTheBlock platform, whale addresses saw a major spike in inflows. These addresses typically represent institutional or high-net-worth investors. The increase in Shiba inu inflows entering these wallets often signals large-scale accumulation.
On May 8, the large holder netflow also rose from 132.54 billion SHIB to 6.21 trillion SHIB which is an increase of over 6,050%. Shiba inu inflows measure the difference between tokens entering and exiting whale wallets with a positive netflow suggesting whales are increasing their holdings.
This Shiba inu inflows shift follows a period of low activity during early May. Analysts often monitor these changes because whales usually accumulate after price pullbacks. They often transfer their purchases to cold storage, which reflects longer-term confidence.
Shiba Inu Price Action and Technical Levels
After staying near the daily Simple Moving Average (SMA) 50 for several days, the SHIB price has moved upward amid the increasing Shiba inu inflows. The price rose from $0.00001274 to an intraday high of $0.00001408 on May 8. As of the latest update, the SHIB price was trading around $0.00001400, an 11% surge from the intra-day high.
This increase came as the broader cryptocurrency market gained strength. Bitcoin price approached the $102,000 mark, leading to renewed interest across many assets. SHIB’s move has placed attention on its resistance near $0.000015.
SHIB/USD (Source: TradingView)
Traders are also watching the SMA 200 at $0.00001265. If the price maintains above the SMA 50 and breaks past resistance, another upward move is possible. The SMA 50 may act as support in the short term if momentum holds.
Derivatives Market and Short-Term Trader Activity
Open interest in SHIB derivatives rose 20.72% to $182.67 million. Trading volume also increased by 81.79% to $167.61 million. These figures suggest growing participation from traders betting on price movements.
Source: IntoTheBlock
The number of short-term traders, those holding less than 30 days, increased by 6.66%. This could suggest renewed interest from new or active traders. Analysts often track these trends to anticipate volatility and potential price swings.
Traders entering during low volatility phases may push prices higher if momentum continues. If SHIB price maintains current levels, short-term traders may influence future rallies.
Community Activity and SHIB Burn Rate
Shibburn reported that over 15.8 million SHIB tokens were destroyed in the past 24 hours. This represented a 4,833.98% rise in the burn rate. Most of this was from a single transfer of 15.29 million tokens.
Token burning reduces the circulating supply. The SHIB team continues to promote its burn initiatives through the Shibarium layer-2 network. On Shibarium, each transaction uses BONE, and part of the fee is converted to SHIB and burned.
The Shiba Inu team shared that 30% of the gas fees are used to buy SHIB and send it to burn addresses. The circulating supply currently stands at over 589 trillion tokens. Burning remains a core strategy to manage token supply.
Market Sentiment and Community Statements
The Shiba Inu marketing lead Lucie, made a public statement about a possible 1,000% increase in three days. She clarified that this was a personal affirmation and not a forecast. “I told my boss, and my cat,” Lucie wrote, jokingly, on social media.
Though such a sharp increase seems unlikely in such a short time, the community responded with enthusiasm. The price would need to hit $0.000144628 for this claim to come true. At press time, SHIB remains below that level.
The community sentiment has grown more positive due to price increases and network activity. With higher whale interest, token burns, and rising open interest, SHIB is gaining more attention across the crypto market.
