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Risk assets retreat as BTC, ETH prices drop further, dollar strengthens: Crypto Markets Today

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Risk assets retreat as BTC, ETH prices drop further, dollar strengthens: Crypto Markets Today

The crypto market selloff accelerated overnight with bitcoin and ether falling by a further 2.7% and 3.5%, respectively, since midnight UTC to compound Thursday’s miserable session.

The drawdown comes alongside heavy losses for precious metals, with silver now trading at $96 following a 20% drop from Thursday’s record high of $121. Gold is trading back below $5,000 after tumbling by 11% from Wednesday’s $5,600 high.

U.S. equity index futures ticked lower while the dollar index (DXY) posted a 0.57% gain, buoyed by the expectation that Kevin Warsh looks set to become new the Federal Reserve chairman.

The global market rout, which saw bitcoin hit its lowest level since November, led to $1.8 billion in liquidations across crypto markets as leverage traders were caught off-guard by the precipitous fall despite a weak start to the year for crypto.

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The bitcoin-dominant CoinDesk 20 Index (CD20) is now down by 6.6% since the turn of the year while the altcoin heavy CoinDesk 80 (CD80), outperforming its counterpart, has lost 2.28%.

Derivatives positioning

  • The market swoon shook out leveraged crypto futures bets worth $1.8 billion in 24 hours. This represents massive wealth destruction over and above the decline in the market capitalization. Investor confidence dented by such losses typically takes time to rebuild.
  • Open interest (OI) in futures tied to most major cryptocurrencies, including bitcoin and ether, has declined alongside large liquidations. DOGE stands out with a 2% increase in OI, which is reflective of traders shorting the dip. An uptick in OI alongside a drop in price is said to indicate that.
  • Annualized perpetual funding rates for BTC, ETH, XRP and several other tokens have flipped negative, a sign of growing demand for downside bets.
  • Bitcoin’s 30-day implied volatility, as measured by Volmex’s BVIV, jumped to 47% from 40%, indicating a rise in demand for options, or hedging contracts, in the wake of the price selloff. BVIV is not alone, Wall Street’s equivalent, the VIX, also spiked Thursday.
  • On Deribit, bitcoin and ether puts have become more pricier than calls, indicating a growing demand for downside protection.
  • Block flows featured BTC put spreads, a bearish strategy. In ether’s case, traders preferred a put butterfly, a market-neutral limited risk, limited reward play.

Token talk

  • Layer-1 blockchain Canton’s native token, CC, was the only top-100 cryptocurrency in the black over the past 24 hours as it managed to avoid a broader market selloff, rising by 3.35%.
  • Privacy coins monero , zcash and dash all experienced heavy losses since midnight UTC, falling by roughly 5% as investor optimism around the sector begins to fade.
  • Despite relative weakness across the market, bitcoin dominance dropped to 58.73% to suggest that investors are opting for speculative altcoin plays in an attempt to outperform the market.
  • One of those speculative bets, RIVER, spectacularly unwound this week with it having lost 55% of its value since Monday, compounded by a 25% drop over the past 24 hours. RIVER’s plight comes after an 884% rally between Jan. 1 and Jan. 26 as traders now begin to lock in profits.
  • Friday was a volatile session for those trading tokenized silver on HyperLiquid, with CoinGlass data showing that one long position worth $47 million was liquidated in European hours after the metal fell to $96.

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Crypto World

Riyadh Becomes the Hub of Decentralized Innovation

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Riyadh Becomes the Hub of Decentralized Innovation

Editor’s note: The Global Blockchain Show 2026 in Riyadh signals a maturation of the blockchain ecosystem as regional tech hubs elevate governance, finance, and collaboration. This editorial introduces the event coverage, emphasizing how policymakers, business leaders, and developers are aligning to explore practical use cases, open networks, and scalable infrastructure. As the organizers showcase a global lineup and deep dives into digital finance, governance, and Web3 tooling, readers will find a concise briefing that precedes the official press release. Our aim is to provide context for why Riyadh’s edition matters for the broader decentralized tech landscape.

Key points

  • Global Blockchain Show Riyadh 2026 expects about 10,000 attendees, 250+ speakers, 200+ exhibitors, and 300+ media representatives.
  • Expert-led sessions cover trends in blockchain adoption, tokenomics, and business applications with hands-on learning.
  • Panels with regulators, legal experts, and industry leaders will provide guidance on navigating markets.
  • Riyadh edition runs June 29–30, 2026, organized by VAP Group and powered by Times of Blockchain.
  • Event aims to showcase open metaverse, governance, security, and real-world impact of decentralized tech.

Why this matters

Riyadh’s hosting of Global Blockchain Show 2026 demonstrates a growing global emphasis on blockchain as a driver of digital economy and governance. The event’s scale and high-profile speaker lineup highlight increasing regulatory dialogue, enterprise adoption, and regional collaboration. By examining real-world use cases, security, and interoperability, the conference supports informed decision-making for investors, startups, and policymakers shaping the future of decentralized technologies.

What to watch next

  • Final speaker lineup and program highlights announced.
  • Partner and sponsor confirmations for Riyadh edition.
  • Regulatory sessions or policy guidance revealed.
  • Post-event insights and industry impact assessments.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

Global Blockchain Show 2026: Riyadh Becomes the Hub of Decentralized Innovation

The Global Blockchain Show 2026 in Riyadh is becoming an unmatched platform for thought leaders, innovators, and blockchain enthusiasts. After a successful feat at Abu Dhabi, the next edition, organized by VAP Group and powered by Times of Blockchain, is scheduled for 29 – 30 June 2026, in Riyadh. It will focus on the capability of blockchain technology, and will cover a broad spectrum of subjects from digital finance to decentralized governance.

Global Blockchain Show (GBS) will witness over 10,000 attendees, along with 250+ speakers, 200+ exhibitors, and 300+ media representatives.

Attendees will gain access to a comprehensive suite of expert-led sessions discussing trends in blockchain adoption, tokenomics, and business applications. The event will offer hands-on learning experiences, which allows participants to experiment with the latest blockchain solutions. This will help them in making a practical impact on businesses and communities.

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GBS Riyadh edition too will see panels featuring regulators, legal experts, and industry leaders who will provide guidance on navigating complicated markets.

The event has previously welcomed an impressive lineup of renowned global leaders and leading innovators in the fields of blockchain and technology. H.E. Justin Sun, Founder, Global Advisor, and Prime Minister of TRON, HTX, and Liberland, and Yat Siu, Co-Founder and Chairman of Animoca Brands, have shared their insights. Ahmed Bin Sulayem, Executive Chairman and CEO of the Dubai Multi Commodities Centre (DMCC), and John Lilic, CEO of Hilbert Group, have also contributed. The event featured Dr. Marwan Alzarouni, CEO of Dubai Blockchain Center and CEO AI for Dubai Economy & Tourism, and Jason Allegrante, Chief Legal & Compliance Officer at Fireblocks. Rachel Conlan, CMO of Binance, Sunny Lu, CEO of VeChain, Abdulla Al Dhaheri, CEO of Abu Dhabi Blockchain Center, and investor Murad Mahmudov have also been part of this impressive event.

By bringing together stakeholders from different walks of the blockchain industry, the Global Blockchain Show reinforces Riyadh’s role as a main hub for tech and innovation.

The Global Blockchain Show Riyadh 2026 convenes visionaries, innovators, and industry leaders to discuss the disruptive potential of blockchain, Web3, and decentralized technologies. In two days, the conference dives deep into the actual-world impact of blockchain, next-gen trading, and the development of the Web3 ecosystem in Saudi Arabia. Participants will be treated to sessions on the open metaverse, superintelligence and creativity, and security and scalability through cloud infrastructure. Among the highlights are provocative exchanges on the future of Ethereum, how blockchain impacts global governance, and how to balance security with sustainability. Keynotes and fireside interviews will feature NFTs and the creator economy, quantum computing advancements, tokenization of real-world assets, and Web3 wallets of the future.

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Attendees will depart motivated, armed with practical knowledge, and prepared to define the next generation of digital innovation. Not only a conference, the Global Blockchain Show is a worldwide gathering of ideas, collaboration, and expansion that propels the future of decentralized technology and economic empowerment.

Media enquiries :

Press contact : Media@globalblockchainshow.com

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Hyperliquid Taps Lawyer Jake Chervinsky to Lead Policy Shop

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Law, Congress, Policy

Crypto platform Hyperliquid has launched a new advocacy organization aimed at pushing through policy changes involving decentralized finance in Congress. 

The Hyperliquid Policy Center said on Wednesday that it had launched in Washington, DC, and named Jake Chervinsky as founder and CEO, a veteran crypto lawyer who was the legal head at crypto venture fund Variant and former policy chief at crypto lobbyist Blockchain Association.

The organization said it will look to advance “a clear, regulated path for decentralized finance to thrive in the United States” and will push policy “with a specialty in perpetual derivatives and blockchain-based financial infrastructure.”

Hyperliquid is a layer-1 blockchain and perpetual futures exchange that has recently exploded in popularity as traders turned to commodities trading amid a broad market downturn, and the platform has looked to expand into prediction markets.

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The Hyper Foundation, an independent body that backs Hyperliquid, will contribute 1 million Hyperliquid (HYPE) tokens to fund the policy center’s launch.

“Critical time” for policy, says Hyperliquid CEO

Chervinsky said more traditional finance companies are launching blockchain-based products or services because the technology offers “efficiency, transparency, and resilience that legacy systems cannot match.”

“This technology is poised to become the base layer of the global financial system,” he added. “Now the United States must choose: we can either adopt new rules that allow this innovation to thrive here at home, or we can wait and watch as other nations seize the opportunity.”

Law, Congress, Policy
Source: Jake Chervinsky 

Hyperliquid co-founder and CEO Jeff Yan said on X that it was a “critical time in policy discussions” in the US and that the platform had “lacked a unified voice in important policy discussions until now.”

Related: Coin Center urges Senate not to axe crypto developer protection bill

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“There is a tangible and urgent possibility of upgrading the tech stack of the existing financial system,” he said. “Global financial regulation will be shaped in the United States, and we must work to ensure that these new policies thoughtfully embrace the potential of the new financial system.”