The crypto market regained poise in the past 24 hours, with market leader bitcoin defending support at $112,000. The leading cryptocurrency, however, continued to trade below it’s 50-day simple moving average, hinting at near-term price weakness.
The broader market followed bitcoin’s lead, as the CoinDesk 20 Index rose over 1%. Decentralized AI operating system Og AI’s (Zero Gravity) OG token rose over 50% and Avalanche’s AVAX rose 10%.
Other notable winners were MNT, ASTR, CRO, NEAR and XLM.
Token Talk
By Oliver Knight
- The 0G (Zero Gravity) issued its native token alongside the rollout of the Aristotle mainnet on Sep. 18, marking its transition from testnet to a live, fully operational AI-focused layer-1 blockchain.
- 0G made community rewards a prominent part of its launch strategy: early contributors, active participants in community campaigns, Discord users, holders of certain NFTs (e.g. the One Gravity collection), and other grassroots actors were eligible for airdrops.
- The project’s modular architecture, combining data availability, storage, compute, and a dedicated chain for AI inference, coupled with integrations & partnerships has bolstered hype and contributed to 0G’s 54% rise of the past 24 hours.
- It currently has a market cap of $1.23 billion with daily trading volume hitting $3.3 billion, according to CoinMarketCap.
- The tokenomics are structured to balance short- and long-term incentives. With a total supply of 1 billion tokens, with 21.3% is unlocked immediately.
- 0G Labs raised over $350 million before or during launch, including a seed round ($40 million) and a large token purchase commitment ($250 million), with additional capital from node sales.
- Key investors include Hack VC, OKX Ventures, Delphi Ventures, Samsung Next, and Animoca Brands.
- Right after its launch, 0G achieved rapid listings on major exchanges, including Kraken and Binance, helping generate liquidity, visibility, and trading volume early in its lifecycle.
Derivatives Positioning
by Omkar Godbole
- Global notional futures open interest has dropped to $102 billion from last week’s high of $110 billion, as Monday’s massive liquidations cleared over leveraged bets.
- AVAX, MNT, NEAR and XMR have bucked the broader market trend with notable gains in open interest. AVAX’s 25% surge in open interest confirms the bullish momentum behind the cryptocurrency’s price rally.
- Open interest in ASTR, the native token of Hyperliquid competitor Aster, has surged to $12.63 million—the highest level since January. In recent months, Hyperliquid has ceded market share in on-chain perpetuals to rising challengers Aster and Lighter.
- XRP, BNB, ADA, LINK and Binance-listed 1000SHIB perpetual futures continue to see negative funding rates, indicating a dominance of bearish short positions. It suggests scope for a “short squeeze” higher in case the market shows renewed resilience.
- The growth in the CME-listed BTC futures OI has stalled while options OI increased to 52.84K BTC, the highest since April. In ether’s case, both futures and options OI hovers near record highs.
- On Deribit, BTC and ETH put skews in short-dated and near-dated options have eased as traders chased bullish BTC call options. On the OTC desk Paradigm, block flows featured BTC calendar spreads and writing of Solana put options.
Token Talk
By Oliver Knight
- The 0G (Zero Gravity) issued its native token alongside the rollout of the Aristotle mainnet on Sep. 18, marking its transition from testnet to a live, fully operational AI-focused layer-1 blockchain.
- 0G made community rewards a prominent part of its launch strategy: early contributors, active participants in community campaigns, Discord users, holders of certain NFTs (e.g. the One Gravity collection), and other grassroots actors were eligible for airdrops.
- The project’s modular architecture, combining data availability, storage, compute, and a dedicated chain for AI inference, coupled with integrations & partnerships has bolstered hype and contributed to 0G’s 54% rise of the past 24 hours.
- It currently has a market cap of $1.23 billion with daily trading volume hitting $3.3 billion, according to CoinMarketCap.
- The tokenomics are structured to balance short- and long-term incentives. With a total supply of 1 billion tokens, with 21.3% is unlocked immediately.
- 0G Labs raised over $350 million before or during launch, including a seed round ($40 million) and a large token purchase commitment ($250 million), with additional capital from node sales.
- Key investors include Hack VC, OKX Ventures, Delphi Ventures, Samsung Next, and Animoca Brands.
- Right after its launch, 0G achieved rapid listings on major exchanges, including Kraken and Binance, helping generate liquidity, visibility, and trading volume early in its lifecycle.
Derivatives Positioning
by Omkar Godbole
- Global notional futures open interest has dropped to $102 billion from last week’s high of $110 billion, as Monday’s massive liquidations cleared over leveraged bets.
- AVAX, MNT, NEAR and XMR have bucked the broader market trend with notable gains in open interest. AVAX’s 25% surge in open interest confirms the bullish momentum behind the cryptocurrency’s price rally.
- Open interest in ASTR, the native token of Hyperliquid competitor Aster, has surged to $12.63 million—the highest level since January. In recent months, Hyperliquid has ceded market share in on-chain perpetuals to rising challengers Aster and Lighter.
- XRP, BNB, ADA, LINK and Binance-listed 1000SHIB perpetual futures continue to see negative funding rates, indicating a dominance of bearish short positions. It suggests scope for a “short squeeze” higher in case the market shows renewed resilience.
- The growth in the CME-listed BTC futures OI has stalled while options OI increased to 52.84K BTC, the highest since April. In ether’s case, both futures and options OI hovers near record highs.
- On Deribit, BTC and ETH put skews in short-dated and near-dated options have eased as traders chased bullish BTC call options. On the OTC desk Paradigm, block flows featured BTC calendar spreads and writing of Solana put options.
