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Cboe Global Markets has filed a 19b-4 form to list a Fidelity-linked bitcoin exchange-traded fund in the U.S. In its filing, it said concerns about potential manipulation of a bitcoin ETF have been “sufficiently mitigated.”
Data from on-chain analytics provider Glassnode shows that Ethereum balances on centralized cryptocurrency trading platforms have fallen to a 23-month low of 13.3 million ETH, or about 11.5% of the cryptocurrency’s supply.
Someone has seemingly acquired the Uniswap.com domain and is now redirecting traffic to the SushiSwap decentralized exchange, a competitor of Uniswap.
Sponsored: SmartCredit.io offers the choice to the borrowers—they can use existing Money-Market Funds with their fluctuating interest rates, or they can use new DeFi Fixed-Income Funds with fixed rates. Borrowers and lenders now have a choice, like in traditional finance.
Top stories in the Crypto Roundup today:
- Cboe Files to List Fidelity-Linked Bitcoin ETF
- Ether Balances on Crypto Exchanges Drops to 23-Month Low
- Uniswap.com is Being Redirected to SushiSwap’s DEX
- Sponsored: SmartCredit.io is introducing DeFi Fixed-Income Funds
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Cboe Files to List Fidelity-Linked Bitcoin ETF
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Cboe Global Markets has filed a 19b-4 form to list a Fidelity-linked bitcoin exchange-traded fund in the U.S. In its filing, it said concerns about potential manipulation of a bitcoin ETF have been “sufficiently mitigated.”
Fidelity’s Wise Origin Bitcoin Trust was first proposed to the U.S. Securities and Exchange Commission in March, but the regulator needs an exchange partner like Cboe to file a corresponding 19b-4 form before considering the application.
The filing triggers a 45-day period the SEC has to make a decision on the ETF application. Bitcoin ETF proponents suggest such a product in the U.S. will make it easier for investors to gain exposure to BTC without having to deal with public and private keys.
The SEC is currently considering three other bitcoin ETF applications, filed by VanEck, Kryptoin, and WisdomTree. All three firms filed with Cboe. A further four bitcoin ETF applications and one ether ETF application have also been filed, but lack their respective 19b-4 forms.
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Ether Balances on Crypto Exchanges Drops to 23-Month Low
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Data from on-chain analytics provider Glassnode shows that Ethereum balances on centralized cryptocurrency trading platforms have fallen to a 23-month low of 13.3 million ETH, or about 11.5% of the cryptocurrency’s supply.
Over the last nine months, the amount of ETH on centralized trading platforms has fallen by roughly 30%. Some analysts have suggested that funds moving off of crypto exchanges could be interpreted as a bullish sign, as less supply will be readily available to meet demand on these platforms.
Exchange balances dropping suggest long-term investors are moving their funds to wallets under their control, or to decentralized lending platforms where they can earn interest on their holdings. Ethereum on-chain activity, according to the firm, has been steadily increasing since the beginning of the year.
Daily transactions hit a new all-time high of 1.63 million this week, a 22.5% rise over December 2017’s peak.
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Uniswap.com is Being Redirected to SushiSwap’s DEX
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Someone has seemingly acquired the Uniswap.com domain and is now redirecting traffic to the SushiSwap decentralized exchange, a competitor of Uniswap.
As of May 1, Uniswap.com was offline and its service was unavailable. Since then, someone purchased the domain and started redirecting traffic to a competitor of the Uniswap decentralized exchange. It’s worth noting Uniswap’s website is Uniswap.org.
Uniswap.com is not affiliated with the actual Uniswap exchange, and it’s unclear who is behind the redirection. 0xMaki, an anonymous Sushiswap contributor, said that the Sushiswap team did not purchase Uniswap.com or “any domain names aside from the .fi and .org ones.”
Pancake.com, a premium domain with the name of PancakeSwap, the leading decentralized exchange on the Binance Smart Chain, is also redirecting traffic to SushiSwap. It’s worth noting that in February crypto investment fund Future Fund acquired the “sushi.com” domain for SushiSwap.
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What’s Going on With Uniswap v3?
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Uniswap v3 has been live for roughly a week, and already, we’re beginning to see the impact of these updates on the exchange.
Flipside Crypto’s Eric Stone took a deeper dive into some of the data surrounding v3 using our Velocity dashboards. Most notable, Stone said, were the differences between the real liquidity of v3, and virtual liquidity or the amount of liquidity providers would need to earn the same fees on v2 as they do on v3.
Liquidity providers, meanwhile, are already seeing fees start to climb. According to Flipside’s data, as of Monday, May 10, the top earner had already collected more than $3.6 million in fees, while number two had earned nearly $3 million.
There were also five other LPs to earn more than $1 million in fees within just a few days of v3 going live. That, Stone said, was not entirely surprising due in large part to the fact that v3 is “much more concentrated” than its predecessor, meaning that those who have large pre-existing balances and can quickly adjust their positions are set up for success on the updated platform.
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SmartCredit.io is introducing DeFi Fixed-Income Funds
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DeFi fixed-income has emerged, but it's missing one key component—the DeFi Fixed-Income Funds.
Traditional finance has both Money-Market Funds and Fixed-Income Funds. The latter are much bigger than the former. But Fixed-Income Funds are missing in DeFi ... Until now.
SmartCredit.io is introducing DeFi Fixed-Income Funds with:
- Fixed interest rate loans (i.e., not fluctuating rates, as in the Money-Market Funds)
- Fixed-term loans (i.e., not a variable term, as in the Money-Market Funds)
Lenders will need to define their own investment rules (i.e., into which loan maturities they want to invest and how much). They have to deposit the funds, and that's it—the platform will make all the investments automated after that.
Borrowers, on the other hand:
- Can use the loan calculator to calculate how much they want to borrow, which collateral to use, and for how long to borrow
- Submit collateral, and that's it—the platform will take care of the rest.
Practically, SmartCredit.io offers the choice to the borrowers—they can use existing Money-Market Funds with their fluctuating interest rates, or they can use new DeFi Fixed-Income Funds with fixed rates. Borrowers and lenders now have a choice, like in traditional finance.
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State of the Crypto by Top Tier Exchange Volume
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