The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

Intermediate

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Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Traders seem to expect BTC’s momentum could slow down a bit after the price hit over $97,000.

Positive sentiment has continued to fuel the cryptocurrency market as the expectation of further institutional adoption of 

 keeps growing. Options trading of BlackRock’s Spot Bitcoin ETF IBIT 

 with a bang, attracting almost $2 billion on the first day of trading. The hope of more spot ETF derivatives to change the market structure with additional institutional money onboarding crypto is high.

, we explored the possibility of the market being overleveraged, which could be painful if the current leverage unwinds. Data from CryptoQuant shows that the estimated leverage of the current BTC markets has reached another YTD high.

Derivatives data on Bybit shows that traders seem to expect that BTC’s momentum could slow down a bit after the price hit over $97,000, and are focusing more on downside protection.

Figure 1: Bitcoin estimated leverage ratio at 0.23. Source: CryptoQuant

BTC Options Open Interest Returns to Previous High While Perps Are Catching Up

Derivatives traders have been actively participating in BTC markets as 

 on Bybit has surged to over $3 billion, on par with the previous high on Nov 14, 2024. Although the options OI has increased, it still hasn’t surged above the previous high. At the time, BTC’s price had already jumped to over $97,000. If the OI doesn’t follow suit and break above the previous high in the coming days, this could be a sign that the market could become a bit exhausted — something for all market participants to be aware of.

Figure 2: Daily open interest for BTC options on Bybit. Source: Bybit

 have also seen increased open interest in recent days. Perpetuals have been among the most favorable products for day traders and short-term speculators. Rising open interest could indicate that more traders are looking for short-term profit, which could bring additional volatility to the market. 

Figure 3: Daily open interest for BTCUSDT Perpetuals on Bybit. Source: Bybit

Dec 27, 2024 remains the most popular expiration date for BTC Options on Bybit, with most of the open interest there. Within that expiration, $120,000 calls had the most OI, and $100,000 calls accumulated the second-largest OI. 

Figure 4: Open interest by strike for BTC Options with a Dec 27, 2024 expiration. Source: Bybit

Meanwhile, the market’s optimism that BTC will hit $100,000 by the end of the year seems to support the current price momentum. Shorter-dated options could show that traders are also looking for downside protection. The Bybit 

 page shows that BTC Options with a Nov 29, 2024 expiration have a strong 24-hour inflow to $90,000 puts. This could indicate that some traders are also anticipating some degree of price correction by the end of the month. 

Figure 5: 24-hour volume by strike for BTC Options with a Nov 29, 2024 expiration on Bybit. Source: Bybit

 for BTC Options on Bybit also indicates a possible downside protection in play among options traders. A smirk skew, or left skew, is a skew curve that’s steeper on one side (the left side) than the other. Traditionally, a smirk skew curve could mean that traders have been protecting their portfolios against a possible declining market. At the time of this writing (Nov 21, 2024), BTC Options contracts on Bybit with Nov 29, 2024 and Dec 27, 2024 expirations have both shown a smirk skew. However, this doesn’t necessarily mean traders are bearish on the price, and could just be part of the trading strategy. For example, traders could set up collars by buying out-of-the-money (OTM) puts and selling OTM calls simultaneously, so that they can profit in case BTC’s price drops, gain upside exposure and potentially offset the cost of buying the puts. 

Figure 6: Implied volatility of BTC Options with Nov 29, 2024 and Dec 27, 2024 expirations. Source: Bybit

The current BTC leverage trading may be complex, but tells a revealing narrative about market sentiment. The divergence between high leverage and increased hedging activities also reminds us that market dynamics are rarely straightforward, and adopting a 

 seems increasingly important in this diverse market.

: Investing in cryptocurrencies and their derivatives involves substantial risk of loss, and isn’t suitable for every investor. This article provides facts for educational purposes only, and does not represent any financial advice. Prior to making any investment decisions, please ensure you fully understand the risks involved and seek independent advice if necessary. Our customer support team is available to assist you with any inquiries.

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Learn From Smart Money: BTC’s Leverage Remains High as Traders Hedge Against Downside Risks

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Metaverse

Do you consider yourself an NFT veteran? So, how many of these NFT slangs are you familiar with? Find out now. 

Non-fungible tokens (NFTs) have been revolving around us for a while now. Still, it’s easy to get lost in a sea of acronyms and made-up words in this ever-growing industry. Though these slang terms might sound nonsensical, they hold a lot of weight. Taking the time to understand the way the NFT community interacts and communicates can significantly help your understanding of this unique form of investment. And the good news is that this jargon isn’t tough to know and use, once you get the hang of it. 

Why Do You Need a Good Grasp of NFT Slang?

Many people assume that keeping up with internet slang is silly and unnecessary. But if you're keen to fit in and sound like a native in the web3 or NFT space, it’s essential to know some basic NFT terminology that promises to get you to places. A good note here is that NFT value is greatly affected by supply and demand, so even random internet trends can have consequences for investors. Understanding the common NFT terms helps you to extract the information you need to invest wisely.

Let's dive right into the top NFT terms, slang and meanings that promise to level up your NFT lingo. Here are the top terms you need to know. 

 are popular types of NFTs based on the Ethereum blockchain. They use programmable generative minting technology to create original pieces of digital art. Each of these NFTs is distinctive, unique and completely random.

 occurs whenever an NFT project or creator automatically sends newly minted NFTs to community members or promoters. Different variations of airdrops include NFTs, tokens and coins. 

This NFT meaning is slang for "as far as I know" and is commonly used when chatting about NFT speculation.

"Ape in" describes rushing to put all your money into a single NFT or crypto coin. It's often used as a verb, and can imply the investor is operating based on excitement and emotion — instead of common sense.

." These terms are commonly used to indicate that the price of digital assets or collectibles has reached an ATH or ATH price.

 refers to NFT projects people believe will be reliable and stable. Blue chips are often perceived as long-term investments, like Bitcoin or Ethereum. In the NFT context, blue chip NFTs can refer to time-tested digital 

, such as CryptoPunks or Bored Ape Yacht Club.

This lingo comes from stock investments, but it also applies to NFTs. It means one should buy a new NFT when the price temporarily dips downwards.

Copycat NFTs are just copies of popular NFTs, but with a slight twist. For example, instead of NFTs with apes, a copycat NFT might use the Bored Ape structure for a set of bird-themed NFTs.

 stands for "decentralized autonomous organization." DAOs are community-run organizations that (in this case) govern NFT collectives.

This term is simply a joking version of "dead." It implies that the user or NFT is so exhausted, worn out or valueless that it doesn't even deserve the courtesy of spelling "dead" correctly.

A delayed reveal strategy involves distributing digital collectibles to users without revealing their contents. Users only inspect their NFTs once they enter a password, wait for a set amount of time to pass, or meet another condition.

Delisting is a verb that refers to the act of taking an NFT off of major marketplaces. If the asset isn’t for sale through any public location, it is delisted.

Diamond hands is another NFT term originating in stock investors memes. Diamond hands means someone with "strong" hands that won't drop a stock or NFT. This translates to an investor with a high-risk tolerance, who will keep holding an NFT even if its value is volatile. Diamond hands are often represented with an emoji of a diamond and a pair of hands. 

Dutch auctions work the opposite way of standard auctions: The auctioneer begins with the highest possible price, and continues lowering it until a desired price is reached.

DYOR stands for "do your own research." This acronym emphasizes the importance of looking into an NFT's background before you buy it.

NFT flippers either mint or purchase an NFT at a low price. Then they hold onto these NFTs until the price increases, and sell them for a higher price on a secondary market.

The floor price refers to the lowest-valued NFT in any collection. For example, Bored Ape's floor price would be 67 ETH because that's currently the lowest listed price for any Bored Ape NFT.

Floor sweeping or sweep the floor is used interchangeably which means that a person is buying multiple NFTs at a very low price. Typically, when someone sweeps the floor, they'll quickly buy a large number of NFTs at their floor price before demand can push individual NFT prices to a higher level. 

Free minting occurs whenever an NFT organization lets users create new NFTs for free. Free mints often require you to sign up for an account and perform some action, such as playing a game.

“Gas” is the slang term for the payment required in order to operate on a blockchain. Usually, each NFT transaction involves a small gas fee to transfer the NFT to a new owner.

Many blockchains let you "bid" on gas fees, and the highest bidder gets to process their transaction first. Gas wars occur when there’s a lot of demand, and users are hiking up gas prices as they scramble to complete their sales.

Also often called "AI art," generative art is digital art randomly made with algorithms or code. It usually includes basic shapes or other concepts arranged in seemingly random configurations. 

 means "we’re all gonna make it." These terms express the general sentiment of all NFT traders making a profit because the outlook on an NFT project is so optimistic.

IRL is an acronym for "in real life." It refers to any behavior that takes place in person instead of over the internet or on a computer screen. 

LFG is an acronym that stands for "Let's fucking go." It expresses excitement and enthusiasm about things like new NFTs or a sudden price spike.

 is a financial term that refers to any asset you can quickly turn into cash without harming the asset's value. Most NFTs are liquid but locked, while staked ones are not. 

Minting refers to the process of creating a new NFT. Every time a new NFT is formed, it is minted.

Open edition refers to the NFTs users can mint as many editions during the sale within a certain time frame. The time frame is usually short-term that happens within minutes. During this time, there is no limit as to how many NFTs a buyer can mint as long as it’s within the time frame. 

Paper hands mean that someone's “hands” are so weak that they’ll drop any NFTs they’re holding. The term describes a very low-risk tolerance. or a person who will sell their NFT the instant the price wobbles.

PFP is short for "profile picture." It usually describes any NFT that’s a picture of some character. Prominent examples (as mentioned above) include 

NFT Slang: Get Updated With NFT Meanings & Terms

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