The Daily: Bitcoin is back above $110,000, Solana co-founder Anatoly Yakovenko is designing a perps DEX, and more
Bitcoin surpassed $110,500 amid rate cut hopes, while Japan considers allowing banks to trade crypto, and Solana's co-founder designs a perps DEX.Summary
Bitcoin has rebounded above $110,500, driven by expectations of an October interest rate cut, with analysts setting the next resistance at $111,000. Concurrently, Japan's Financial Services Agency is considering reforms to permit local banks to buy, sell, and register as crypto exchanges, while also moving to prohibit trading based on non-public information.
In investment news, despite $513 million in weekly global crypto ETP outflows, Ethereum investors showed conviction by buying the dip, leading to significant inflows into Ethereum-based funds internationally, excluding US funds.
Furthermore, notable crypto figures are backing a $1 billion SPAC merger to form Evernorth Holdings, aiming to create the largest public XRP treasury. Separately, Solana co-creator Anatoly Yakovenko is reportedly developing an onchain perpetuals DEX named Percolator, which utilizes sharded matching engines called Slabs.
(Source：The Block)