Akeshi

BTC options OI (30d sma) has reached a new historical high! It has reached a scale of 563,242 BTC. In the last cycle, the derivatives market was mainly dominated by perpetual/futures contracts, and the weight of the options market was not large.
However, this cycle is different; more institutions, while holding BTC spot, will use the unique leverage properties of options for hedging, arbitrage, selling volatility, buying protection, and so on. For example, in the past, risks could only be avoided by selling spot; now, buying puts can achieve the same purpose, which also significantly reduces the selling pressure on the spot market.

Therefore, the direction of the option market premium represents the traders' (especially institutions) predictions and attitudes towards the current market conditions, which is very valuable for reference. Figures 2-3 show the flow of options premiums (net buying/net selling) for the three key strike prices of 85,000, 90,000, and 92,000.

RWA (Real World Asset Tokenization) is no longer a concept hype in the crypto circle, but a global financial wave sweeping the world. In 2024, the scale of tokenized assets worldwide will exceed $30 billion, a staggering increase of 317% year-on-year, and a complete revolution regarding asset liquidity is already underway. 1. What exactly is RWA? Turning 'heavy assets' into 'liquid cash'.
In simple terms, RWA is the use of blockchain technology to turn real assets such as real estate, bonds, charging piles, and artworks into divisible and transferable digital tokens. It addresses the three major pain points of traditional finance.