Ethereum Futures Surge ($)
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- 📈 Ethereum Futures Open Interest Booms. ETH futures open interest has surged to a new high of $20.8 billion, with positive funding rates and record leverage ratios indicating traders are heavily betting on rising ETH prices.
- 🚀 Solana Hits Record High Over $260. Two years after plunging to $8 during the FTX collapse, SOL has soared to a new all-time high above $260 following a 386% year-over-year surge.
- ❎ Polymarket Blocks French Traders. The predictions marketplace has restricted access for French users following an investigation by France’s national gaming authority, the ANJ, over compliance with gambling laws.
📸 Daily Market Snapshot: Is it 2021 again? Last cycle's retail favorites— including XRP, EOS, Stellar, Cardano, and Sologenic—litter the top gainers board today. Meanwhile, BTC is sitting just under $100k, and Jim Cramer finally flipped bullish after urging investors to exit at the pico-bottom. It's beginning to look like the next big bull run might just be getting started.
| Prices as of 1pm ET | 24hr | 7d |
|
Crypto $3.3t | ↗ 1.2% | ↗ 11.5% |
|
BTC $98,999 | ↗ 0.7% | ↗ 10.3% |
|
ETH $3,297 | ↘ 1.6% | ↗ 8.6% |
|
MORPHO $0.93 | ↘ 21.7% | ↘ 45.4% |
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🧑🌾 Farming Alpha: While Convex cbBTC-WBTC LP yields collapsed, Fraxlend WBTC yields increased, and although Aerodrome tBTC-cbBTC LP yields remain elevated, they have come in significantly from their mid-triple digit levels last week.
Spiking utilization rates on Aave’s DAI, USDe, and FRAX stablecoin pools on Ethereum may signal danger, but they also present heightened return opportunities for lenders. Alternatively, the massive divergence between Aave crvUSD borrowing rates and Curve crvUSD lending rates continues to provide a lucrative spread trade for those willing to assume the marginal risks associated with borrowing crvUSD from Aave and depositing it into Convex.
Top Opps:
- 🟠 BTC: 38% APR with Aerodrome’s tBTC-cbBTC pool on Base
- 🟠 BTC: 26% APY with Fraxlend’s WBTC pool on Ethereum
- 🟠 BTC: 11% APR with Convex’s cbBTC-WBTC pool on Ethereum
- 🟠 BTC: 7% APY with Pendle’s LBTC (Corn) PT on Ethereum
- 🔵 ETH: 11% APR with Convex’s pxETH-stETH pool on Ethereum
- 🔵 ETH: 7% APY with Pendle’s cmETH PT on Mantle
- 🔵 ETH: 7% APY with Pendle’s rstETH PT on Ethereum
- 🟢 USD: 33% APR with Convex’s crvUSD (pufETH) lending vault on Ethereum
- 🟢 USD: 4% APY with Aave’s crvUSD pool on Ethereum
- 🟢 USD: 13% APY with Aave’s USDC pool on Arbitrum