CME Bitcoin Futures Open Interest Hits Record-High $841M – August 12

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $11,469

Bitcoin price has started the day down more than 2% today, as price recovers from a sharp drop that briefly touched the $11,100 mark.

Top-20 altcoins did not fare well, as XRP tumbles 5%, Ethereum falls almost 3%, and Bitcoin SV is the biggest loser with a 6% drop. Chainlink stands out with a rise of almost 6%.

Top Stories for August 12, 2020 πŸ”₯

πŸ‘‰ CME Bitcoin Futures Open Interest Hits Record-High $841M

Open interest on Chicago Mercantile Exchange (CME) Bitcoin futures has reached a new all-time high today of $841 million.

The metric demonstrates that professional investor interest in Bitcoin is growing at a significant rate, however cannot be assumed to be bullish in isolation.

CME Bitcoin futures have however been trading at a premium of more than 1% for several days now, indicating positive sentiment.

πŸ‘‰ Unaudited DeFi Project Receives $76M of Deposits in Under One Hour

A brand new DeFi project known simply as “Yam” (ticker YAM) has received $76 million worth of token deposits for the purpose of yield farming – however the project has not yet been audited.

Token deposits in the protocol include WETH, COMP, LINK, LEND and four other ERC20 tokens, as yield farmers rush to receive payouts in the YAM governance token.

πŸ‘‰ Bitcoiners Organize Crypto Relief Fund for Beirut Explosion Victims

A group of Lebanese expats have created a cryptocurrency relief fund for the victims of Lebanon’s disastrous explosion in Beirut last week.

The fund aims to bypass Lebanon’s “corrupted financial system” in order to assist people affected by the explosion, helping them to acquire food and shelter.