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IBIT’s Options Market Fuels BTC ETF Dominance
NFT Gaming

IBIT’s Options Market Fuels BTC ETF Dominance

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Analyst James Check and Unchained produced a report on the current bitcoin BTC$112,182.24 market landscape, with the most interesting takeaway being the rise of the bitcoin exchange-traded funds (ETFs) specifically the success of iShares Bitcoin Trust (IBIT) and the options market that now underpins the product.

The report opens with a quote saying: “Options are now the dominant derivatives instrument by open interest, being over $90 Billion in size, and eclipsing the futures markets at $80 Billion”.

Since its launch in January 2024, IBIT has seen around $61 billion in net inflows over 18 months, making it one of the most successful ETF’s of all-time.

However, the dominance accelerated following the launch of ETF options in November 2024.

The options market, which gives investors the right but not the obligation to buy or sell an asset at a set price within a certain timeframe, has dramatically reshaped flows, with IBIT attracting $32.8 billion in inflows while competitors have remained flat since the options began trading.

The report states that IBIT now controls 57.5% of all bitcoin ETF assets under management (AUM), up from 49% in October 2024, with roughly 40 cents of options open interest for every dollar of bitcoin held in the fund. By contrast, Fidelity’s FBTC, the second largest ETF, is about 25 times smaller than IBIT in options open interest, with around $1.3 billion.

This level of activity has made IBIT a rival to Deribit, the world’s largest crypto options exchanges, where daily trading volumes typically run between $4 billion and $5 billion, according to the report.

The report also points to 13F filings, the quarterly disclosures required by the SEC for investment managers with over $100 million in assets. These filings show institutions holding ETFs, allowing others to use the options market to be able to short or use arbitrage methods for hedging volatility.

Overall, the report concludes that bitcoin’s volatility profile has shifted meaningfully in this cycle, with ETFs and their options markets serving as a major driver of that change.

“In our view, the launch of options on top of the spot ETFs is thus far an under-discussed, but highly important change in Bitcoin’s recent market structure”, the report said.



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Coinbase Might Lose Its Dominance as Competition Heats Up
GameFi Guides

Coinbase Might Lose Its Dominance as Competition Heats Up

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  • Coinbase’s stock stumbles
  • Growing competition

According to a recent report by the Financial Times, the Coinbase exchange is at risk of losing its dominance due to the White House’s enthusiasm for crypto, which has enabled “mounting competition.”

Bitwise’s Ryan Rasmussen has told the FT that the U.S. exchange giant might be losing its head start.

Coinbase’s stock stumbles

You would not be able to tell this based on Coinbase’s stock performance. In July, as reported by U.Today, the company’s shares hit a new record high for the first time since its initial public offering in 2021.

The stock has suffered a roughly 33% correction since the all-time peak of $444. That said, it is still up by 25% since the start of the year, and up 178% from its 2024 low.

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The stock is under some pressure due to underwhelming earnings recorded during the second quarter of the year.

Growing competition

Intense competition, which is possible because of new crypto-friendly U.S. rules, poses an acute challenge to Coinbase, according to various analysts.

On top of facing increasing rivalry in the trading sector from Asian exchanges, Coinbase’s custodian business is also being threatened by traditional finance players of the likes of BNY Mellon.

That said, some industry participants believe that more competition will actually be a positive development since having just one major custodian would be risky.

However, the company is not asleep at the wheel as it continues to diversify its business avenues with the recent acquisition of crypto options giant Deribit. Moreover, the exchange is also wading into tokenized stock trading.



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Biwin Mini SSD
Gaming Gear

The shockingly small Mini SSD threatens microSD dominance yet depends on Biwin seeking SDA or PCI-SIG approval to succeed worldwide

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  • Biwin Mini SSD risks obscurity without SDA or PCI-SIG standard approval
  • SanDisk’s early SDA submission made microSD a universal storage success
  • Mini SSD hits 3,700MB/s reads, crushing MicroSD Express’s 985MB/s ceiling

Chinese storage maker Biwin has introduced the “Mini SSD,” a format far smaller than a US penny yet offering capacities up to 2TB.

Measuring just 15mm x 17mm and 1.4mm thick, it targets laptops, tablets, phones, and cameras.

Sequential read speeds are listed at 3,700MB/s with writes at 3,400MB/s through a PCIe 4×2 connection, placing it closer to full-size SD Express performance than traditional microSD speeds.


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Why universal standards matter for adoption

Despite achieving such speed, Mini SSD may never reach its full potential unless Biwin follows SanDisk’s example.

When SanDisk launched microSD in 2005, then called T-Flash, it promptly submitted the format to the Secure Digital Association (SDA), the industry body overseeing SD card standards.

That move enabled “a ton of companies” to manufacture compatible cards, cementing microSD’s near-universal adoption.

Without taking a similar step, Biwin’s format risks remaining exclusive and failing to gain widespread support.

To truly replace microSD, Biwin must submit the Mini SSD to either the SDA or PCI-SIG, the two leading organizations currently setting removable storage standards.

If it is adopted, members of both SDA and PCI-SIG could then seriously consider this SSD for their devices.

Mini SSD has strong potential; it is faster than microSD Express cards, which top out at about 985MB/s, and can match SD Express cards at 3,940MB/s, which are nearly twice the size.


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The Mini SSD’s slot functions like a SIM tray, allowing users to eject it with a pin, making swaps or upgrades straightforward.

It boasts IP68 water and dust resistance and can withstand three-meter drops, qualities that might suit mobile hardware exposed to rough handling.

While this may not be the fastest external SSD on the market, its tiny form makes it relevant for space-conscious and highly portable devices.

Currently, M.2 drives remain quicker, with some reaching 14,000MB/s, and still dominate the largest SSD category, although Mini SSD is closing the gap with portability.

Two Chinese gaming handheld consoles, the GPD Win 5 and OneNetbook’s OneXPlayer Super X hybrid, have already adopted dedicated Mini SSD slots.

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Crypto Market Prediction: XRP: $3 Too Early, SHIB Bull Run to Start at $0.000013? Ethereum Dominance Back at $4,350
NFT Gaming

Crypto Market Prediction: XRP: $3 Too Early, SHIB Bull Run to Start at $0.000013? Ethereum Dominance Back at $4,350

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The market dominance of Ethereum should not be forgotten as the market-wide recovery affects SHIB and XRP, which are rallying forward and might see a bullish rally continuation starting from Sept. 10. Despite our previous gloomy market review, the overall state of the industry is becoming healthier.

Don’t forget Ethereum

At a time when many altcoins are still having difficulties, Ethereum (ETH) has once again reminded the market of its dominance and resilience. The fact that ETH, the second-largest cryptocurrency by market capitalization, has recovered well from recent declines and is currently trading at about $4,372 shows that it still has the strength to influence overall market trends.

Following its ascent above the crucial $4,000 support zone, ETH steadied itself within a narrow range without ever displaying signs of weakness. By acting as a dependable floor and deterring bears, the 50-day EMA at $4,168 has offered a solid technical foundation for a recovery. Now that ETH is maintaining a strong hold above this level, traders are paying closer attention to a potential trend reversal that might push the token back toward the $4,600-$4,800 resistance zone.

ETH/USDT Chart by TradingView

Ethereum’s ability to hold its ground while Bitcoin consolidates is what makes this most recent move noteworthy. With ETH potentially leading the next bullish wave instead of just following BTC, this decoupling suggests a change in the market’s structure. This view is supported by the RSI, which is currently at 52, indicating that Ethereum has recovered from overbought conditions while still having a lot of room to rise.

Volume has stabilized, indicating steady participation without speculative blow-offs, despite not being as explosive as it was during the rally in July. This stability is crucial because Ethereum has the technical basis to stage another leg higher if inflows of new capital resume.

Ethereum’s recent performance is a reminder of its dominance on the cryptocurrency market. It is evident that the asset is far from depleted when it maintains above $4,000 and defends its moving averages. ETH may be the first significant altcoin to signal a significant market-wide reversal if the current momentum continues, reaffirming its position as the leader in price action and innovation in the digital asset space.

XRP takes its shot

XRP is pushing above $3.00 after recovering from the $2.77 support zone, indicating that it is once again showing signs of strength. This move appears promising at first glance, particularly given that the asset has tested and remained above important short-term moving averages.

However, given the state of the market, investors should exercise caution because what appears to be the beginning of a breakout could still be a dead cat bounce. From July highs around $3.80, the chart shows a distinct descending resistance line, which XRP is currently reapproaching. A stronger bullish case would be confirmed by breaking through, but history demonstrates that such levels frequently serve as a trap for eager buyers.

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A quick retracement and another rejection could result from failing to maintain momentum at this point. The 50-day EMA at $3.07 is a potential immediate resistance level that heightens the caution. It is probable that sellers will reenter the market if XRP does not close significantly above it. A break below the 200-day EMA at $2.53 would turn the structure bearish once more, with the 100-day EMA at $2.78 serving as crucial support.

Momentum indicators lend credence to this cautious perspective. The RSI is at 55, slowly rising but not yet displaying a strong sense of bullishness. The current rally may not have the depth required for a long-lasting trend reversal, as evidenced by the muted volume, in contrast to the explosive rallies earlier this summer.

Even though XRP’s rise above $3.00 is positive, it is still much too soon to rejoice. Before announcing a win, traders should prepare for the possibility of rejection and revocation. The current move runs the risk of being little more than a brief bounce unless XRP can break its descending trendline with significant volume.

Shiba Inu speeds up

Following its breakout from a consolidation pattern, Shiba Inu’s rally is evidently picking up speed. After soaring past the $0.00001287-$0.00001297 resistance cluster created by the short-term moving averages, the token is now trading close to $0.00001307. Bulls now feel more confident, and the technical setup of SHIB has received more attention as a result of this breakout. SHIB appears well-positioned for future gains at its current levels. 

The next significant test is the 200-day EMA at $0.00001386; a strong breakout above it might push the rally further toward the $0.00001500-$0.00001600 region, which was last observed in mid-August. Momentum indicators lend credence to this optimistic outlook: the RSI has increased to 55, indicating increasing buying interest without yet displaying overbought conditions. Additionally, the volume has increased, confirming that this rally has real momentum.

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The longer-term structure has not changed much despite the short-term outlook appearing solid. SHIB is still trading well below the $0.00002000 levels, which marked the end of the summer rally, and the asset is still threatened by the larger downtrend that started following the 2021 highs. Though encouraging, the current breakout does not yet signify a significant change in Shiba Inu’s macro outlook.

The 200 EMA, which frequently serves as a major barrier, is another area where investors should be wary of possible volatility. If Shiba Inu does not make a strong push, there may be a retracement back toward the support level of $0.00001280. There is a strong technical setup for short-term traders to keep an eye on, and Shiba Inu’s bullish rally is accelerating at the current levels.

The current state of the market expresses some hope for bulls as multiple assets are showing signs of accumulation and might provide us with grounds for recovery sooner than anticipated. Risks of a bearish reversal are still there, though.



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Tether
Crypto Trends

Stablecoin Dominance Drops To 60%

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Based on recent figures, USDT dominance dropped to nearly 60% on August 29. It is the weakest hold Tether has had since March 2023.

Nevertheless, USDT’s market cap is $168 billion and Circle’s USDC is $70.37 billion — both all-time highs. So the physical magnitude of the coins is greater, but the share of the market under each’s control is moving.

Rising Competitors Make Inroads

According to figures from DefiLlama, the first half of 2024 saw USDT dominance at approximately 70%. USDC then had around 18% of the market.

That figure has risen and is now at approximately 30%. DAI, which used to capture about 3.5%, has dropped to 1.85%. These adjustments indicate money is transferring between stablecoins and not exiting the space.

Source: DefiLlama

One New Token Stands Out

Ethena’s USDe stands out. Introduced in December 2024, USDe already has 4.32% dominance with a market capitalization of $12.25 billion.

That’s a quick ascent for a token that had just come out late last year. Trump-associated World Liberty Financial’s USD1 holds 0.88% market share.

Data have revealed those figures together with the bigger market-cap numbers for USDT and USDC, which makes it clear: competition is increasing while total numbers rise.

Source: DefiLlama

Regulatory Pressure Shapes Markets

Tether’s market share loss isn’t merely about competitors. It has also refused to implement Europe’s MiCA stablecoin regulations, and exchanges deleted USDT from certain European listings.

The US has enacted the GENIUS Act that includes new transparency obligations for stablecoin issuers. Those reforms make compliance an even larger consideration in who captures market share in the future.

Total crypto market cap currently at $3.71 trillion. Chart: TradingView

Investors Are Choosing Options

Some institutions and traders appear to like stablecoins that are backed by issuers that commit to new regulations. Others are experimenting with newer tokens or models that offer alternative types of backing or schemes.

That is one reason why USDC’s share is expanding rapidly and why smaller tokens such as USDe can acquire share rapidly. But the absolute expansion of USDT and USDC indicates the industry as a whole is growing even if its internal composition shifts.

Market Share Is Not Static

This phase should remind readers that market share can shift even when totals rise. USDT’s drop to 60% is meaningful because it marks the first time since March 2023 that dominance touched these levels.

It also points to a market where compliance choices, product design, and fresh entrants all matter.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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European Technology Sovereignty Watch
Gaming Gear

Europe’s silent tech crisis deepens as entire industries run on American systems while sovereignty slogans collapse under Washington’s shifting political winds and corporate dominance

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  • European firms are deeply locked into foreign office suites and systems
  • American platforms manage the communication backbones of Europe’s largest corporations
  • Reliance on external providers exposes utilities and healthcare to foreign oversight

For years, European governments and corporations leaned heavily on American technology offerings instead of nurturing local alternatives.

That choice now carries visible consequences, as sanctions and shifting trade rules brought in by the Trump administration drastically reshape the balance of power.

A recent analysis of business email domains across Europe by Proton shows a striking majority of publicly listed firms rely on American providers such as Google and Microsoft.


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Data reveals the depth of reliance

Behind the rhetoric of digital sovereignty, the reality is that much of Europe’s digital infrastructure rests on technology stacks that entities outside its borders control. This is not just about convenience software but also about essential systems that underpin finance, healthcare, and utilities.

Email may appear mundane, but it often serves as the gateway to office software, online collaboration platforms, and cloud-based storage.

When a company commits to a provider for email, it usually adopts the full suite, embedding foreign technology deep into its operations.

This trend is not limited to smaller economies but also includes the continent’s largest players, where dependence cuts across industries from energy and telecommunications to pharmaceuticals.

In countries like Iceland, Norway, Finland, and Sweden, over 90% of publicly listed companies rely on American services for email and related infrastructure.

However, the shocker is probably Ireland, which is at loggerheads with the US on several policies, but 93% of its businesses depend on American tech.

The UK, although mostly an ally of the US, has an alarming 88% of businesses relying on US tech, while other European heavyweights like Spain, Portugal, and Switzerland recorded 74%, 72%, and 68% of businesses relying on US tech, respectively.

Even France, which often champions its own autonomy, sees two out of three (66%) companies tied to US providers.

Eastern European countries like Bulgaria (16%) and Romania (39%) are the least dependent on American tech, and Russia is not even on the list of nations dependent on the US.

National security concerns emerge when utilities, transport systems, and healthcare facilities communicate through networks governed by foreign jurisdictions, but perhaps not when the network belongs to the US.

The reliance stretches far beyond convenience; it embeds itself in the very systems Europeans use every day – dependence on foreign technology does not just present a financial vulnerability; it raises questions about surveillance, geopolitical leverage, and the future of innovation.

AI training programs outside Europe’s control can sweep in sensitive business data, while reliance on external platforms exposes companies to warrantless legal demands.

This arrangement has also fostered a talent and capital drain, as engineers and investors direct their focus toward Silicon Valley rather than strengthening European ecosystems, whether through proprietary services or alternative Linux distros.

Some argue that American technology simply offers the best tools available, which may be true in terms of efficiency and global reach, yet the consequences of reliance are increasingly hard to ignore, since the US can turn off the switch at any time, and thousands of companies will be in crisis.

The fact that so many European firms cannot operate without American software demonstrates the fragile nature of Europe’s autonomy.

Rather than securing independence, Europe risks locking itself further into external dependencies at a moment when political winds in Washington are shifting.

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Crypto Markets Today: Bitcoin Dominance Slip While Hyperliquid's Volume Soars to $3.4B
NFT Gaming

Crypto Markets Today: Bitcoin Dominance Slip While Hyperliquid's Volume Soars to $3.4B

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What would a market that refuses to rally sustainably on the back of positive catalysts be called? A weak one, presumably.

Looking under the hood, there is more than one single catalyst that's driving this market's volatility.

Bitcoin (BTC) has retraced back to roughly where it was before the Fed Chairman Jerome Powell spoke dovishly on Friday. More losses could be in the pipeline if the support near $107,500 gives way, technical charts indicate.

Meanwhile, spot and options market flows point to a rotation into ether from bitcoin.

“BTC dominance slipped from 60% to 57% on the rotation. While still above the sub-50% levels of the 2021 altcoin season, positioning is feeding talk that whales expect ETH to outperform. If staking ETFs for ETH win approval later this year, that narrative would gain further support,” Singapore-based QCP Capital said in its daily market update.

Derivatives Positioning

  • BTC and HYPE's global futures open interest have increased by 1% and 3%, respectively, in the past 24 hours, bucking the broader trend of outflows observed in other top 10 tokens.
  • Cumulative open interest in USD and USDT-denominated perpetual futures across leading exchanges such as Binance, Bybit, OKX, Deribit, and Hyperliquid remained flat on Friday despite the price rally. However, since then, open interest has risen from approximately 260,000 BTC to 282,000 BTC, indicating a “sell on rally” sentiment among traders.
  • The opposite is the case in the ether market, where the OI ticked higher during Friday's rally and has retreated with the price pullback. This pattern suggests a temporary pause in bullish momentum rather than the establishment of new short positions, indicating a bullish breather rather than a shift toward bearish sentiment.
  • Speaking of funding rates, except for ADA, most tokens see positive rates, indicating a net bias for bullish long positions.
  • Altcoin futures OI exploded by more than $9.2 billion in a single day on Friday, pushing the combined total tally to a new high of $61.7 billion. “Such rapid inflows highlight how altcoins are increasingly driving leverage, volatility, and fragility across digital asset markets,” Glassnode said.
  • On the CME, open interest in ether options hit a notional record high of over $1 billion on Friday. This follows a record number of large holders in the futures market early this month. Ether futures OI hit a new high above 2 million ETH.
  • Notional open interest in BTC options rose to $4.85 billion, the highest since April, as futures activity remained subdued.
  • On Deribit, BTC options continued to show a bias for puts out to the December expiry, contradicting the post-Powell bullish sentiment in the market. In ether's case, calls traded at a slight premium.

Token Talk

  • Hyperliquid hit a new 24-hour spot volume ATH of $3.4B, powered by surging BTC and ETH deposits and trading via Hyperunit.
  • This spike positioned Hyperliquid as the second-largest venue for spot BTC trading, across both centralized and decentralized platforms, with $1.5B in BTC volume alone.
  • Such volume milestones improve Hyperliquid’s appeal by proving its ability to handle institutional-scale order flow.
  • The platform’s architecture — built on HyperCore (Layer‑1 with HyperBFT consensus) and HyperEVM — delivers sub-second finality, high throughput, and EVM compatibility, making it highly attractive to both high-frequency traders and DeFi builders.
  • Its growing volume, especially in BTC spot markets, strengthens Hyperliquid’s value proposition as a liquidity layer in DeFi, reinforcing its “AWS of liquidity” thesis driven by performance and infrastructure depth.
  • Spot growth complements its perpetuals dominance—where the platform already captures 60–70% of DEX market share, delivering more on-chain revenue than even Ethereum.
  • High spot volume translates into real benefits for HYPE holders — its token benefits from regular buybacks funded by trading fee flows via its Assistance Fund, tying platform usage directly to long-term token value.

Read more: Here Is Why Bitcoin's Flash Crash May Signal Altcoin Season: Crypto Daybook Americas



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