CBOE to Initiate BTC, ETH Margin Futures Trading as Bitcoin Wallet 'Millionaires' Triple in 2023
Summary:
CBOE is set to launch Bitcoin and Ethereum margin futures trading on January 11, 2024, becoming the first U.S. crypto-native exchange to offer both spot and leveraged derivatives trading on one platform. Simultaneously, Tether has minted 4 billion USDT within the past month, making up nearly 18% of all Tether generated in 2023. The number of Bitcoin wallets holding $1 million or more has tripled in 2023, and crypto lender Hodlnaut is entering liquidation.
CBOE prepares to initiate trading of BTC, ETH margin futures. Simultaneously, Tether has produced 4 billion USDT within the last month, covering nearly 18% of all Tether (USDT) generated so far in 2023. Moreover, Bitcoin (BTC) wallets containing $1 million or above have tripled in number this year, and crypto lender Hodlnaut is entering liquidation. CBOE's Bitcoin margin futures trading is set to launch on Jan. 11, 2024, becoming the inaugural U.S. crypto native exchange to conduct both spot and leveraged derivatives trading on one platform.
Cboe Digital disclosed that it will initially offer financially settled margined contracts on Bitcoin and Ether and envisages expanding its range of products to cater for physically delivered commodities at a later stage, pending regulatory approvals.
Over the last month, Tether, a stablecoin company, has been noticeably generating new tokens, minting 4 billion USDT, which comprises almost 18% of all USDT issued this year. Tether added another 1 billion USDT to the Tron blockchain on Nov. 10, according to Whale Alert, a provider of blockchain data. This latest USDT issuance occurred shortly after Tether added another 1 billion USDT to Ethereum on Nov. 9 and 2 billion USDT, split amongst two batches, to the Tron blockchain on Nov. 3 and Oct. 19.
Paolo Ardoino, Tether's chief technology officer and new CEO, stated on X (previously Twitter) that the latest 1 billion USDT transaction on the Tron network was a "USDT inventory top-up." The recently minted USDT contains a considerable portion of the total USDT minted this year. According to Whale Alert, Tether should have produced 22.75 billion USDT in 2023, with 57% (13 billion) added to the Tron blockchain. The remaining 9.75 billion USDT was added to the Ethereum blockchain.
While Tether continues to mint new stablecoins, it is also decreasing some coins. On Aug. 22, Tether burned 1.2 billion USDT on the Tron blockchain. Previously, the stablecoin company also burned 3.1 billion Tron USDT in June and 2 billion Ethereum USDT in February.
In 2023, the count of crypto wallet addresses with over $1 million in BTC has tripled, as per BitInfoCharts data. The number of such wallets (referred to as "millionaires") has risen by 237% from the beginning of the year. It's important to note, however, that these wallet addresses may not correspond directly to individual users, as many belong to crypto exchanges and financial firms. Glassnode data indicates Bitcoin wallets with $1 million or more were at an all-time high in November 2021, with a record of 112,573 addresses recorded on Nov. 9, 2021, the day before Bitcoin reached its $69,000 peak.
Meanwhile, wallets holding at least 1 BTC — the so-called "wholecoiners" — have shown a small increase, jumping 4% from the start of 2023 to reach a total of 1,018,015 wallets, from 978,197 recorded on Jan. 1.
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Published At
11/13/2023 9:05:28 PM
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