According to Odaily, following the recent Polygon hard fork, some Polymarket users have reported issues with order execution and withdrawal delays. In response, a number of users have turned to Opinion to hedge their risks, resulting in a significant increase in Opinion's trading volume, which has reached $300 million, surpassing that of Polymarket.
According to Odaily, Tether has announced that its USDT token has been recognized as an accepted fiat reference token (AFRT) by the Abu Dhabi Global Market (ADGM). This recognition allows authorized entities licensed by the ADGM Financial Services Regulatory Authority (FSRA) to offer regulated activities involving USDT on various blockchains, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON. This development builds on ADGM's previous recognition of USDT on Ethereum, Solana, and Avalanche, further expanding the application scope and network coverage of USDT within ADGM's regulated digital asset framework. Tether CEO Paolo Ardoino emphasized that this move highlights Tether's commitment to advancing global financial inclusion and innovation, while reinforcing Abu Dhabi's position as a global hub for compliant digital finance.
💥🚨 Proposal Impact: Vitalik Buterin's proposal for an on-chain gas futures market aims to provide cost certainty and hedge against fee volatility.
• Market State: ETH is trading at approximately $3,044, showing a slight 24-hour gain of 0.24% and maintaining stability above the key $3,000 support level.
• Bullish Signal: A significant whale has taken a strong bullish stance, opening a 2x leveraged long position of 20,000 ETH, valued at $60.93 million.
• Technicals: Technical indicators like the MACD show positive momentum, suggesting a potential for upward movement while the price holds above crucial support.
Market Overview
• ETH is priced at $3,044.43, up 0.24% in 24 hours, with a market cap of $367.8 billion and $10.18 billion in volume.
• The price is maintaining stability above the critical $3,000 support level, indicating underlying market strength.
• A notable whale investor entered a 2x leveraged long position, buying 20,000 ETH valued at $60.93 million.
Core Driving Factors
• Ethereum co-founder Vitalik Buterin has proposed the creation of a trustless, on-chain gas futures market to tackle the network's historical fee volatility.
• The proposal aims to allow network participants to hedge against unpredictable gas fee spikes by purchasing gas futures, locking in transaction costs in advance.
• This market would also serve as a price discovery tool, offering clearer signals on future transaction costs and enhancing the economic stability of the Ethereum ecosystem. 🔗
Technical Analysis & Trading Strategy
• ETH has established strong support around the $3,000 mark; remaining above this level maintains a constructive outlook for potential upward movement.
• The MACD indicator shows positive momentum with the MACD line crossing above the signal line, which is often interpreted as a bullish signal.
• While a gas futures market is not yet tradable, the proposal strengthens ETH's fundamentals. Traders should monitor the $3,000 support for potential buying opportunities.
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