{"id":41696,"date":"2025-08-12T11:16:53","date_gmt":"2025-08-12T11:16:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41696"},"modified":"2025-08-12T11:16:53","modified_gmt":"2025-08-12T11:16:53","slug":"markets-today-bitcoin-ether-hold-gains-as-ethena-hits-11-9b-tvl-pudgy-penguins-race-to-f1","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41696","title":{"rendered":"Markets Today: Bitcoin, Ether Hold Gains as Ethena Hits $11.9B TVL, Pudgy Penguins Race to F1"},"content":{"rendered":"<div>\n<p>The global crypto market cap rose 2% in the past 24 hours to $4.03 trillion as major cryptocurrencies posted gains. <\/p>\n<p>Bitcoin (BTC) added 2.3% to $118,527, ether rose 0.7% to $4,293. Solana and XRP each advanced 4.4% while Dogecoin gained 4.7%. <\/p>\n<p>The rallies came alongside heavy short liquidations, with risk sentiment improving after a relatively calm macro session.<\/p>\n<p><strong>Derivatives Positioning<\/strong><\/p>\n<ul>\n<li>Futures open interest (OI) in major tokens decreased over the past 24 hours, indicating a capital outflow. It&#8217;s also suggestive of price losses being driven by the unwinding of long positions rather than outright short sales.<\/li>\n<li>XMR&#8217;s perpetual futures appear overheated, with annualized funding rates exceeding 200%. The extremely high figure may prompt arbitrageurs to take a simultaneous long position in the spot market and a short position in futures, allowing them to pocket the funding safely.<\/li>\n<li>Funding rates for other major tokens remain pinned at around 10%, reflecting a moderately bullish bias.<\/li>\n<li>On the CME, open interest in ETH futures rose to 1.70 million from 1.51 million ETH. <\/li>\n<li>BTC open interest remained steady near 138K BTC, the lowest since April.<\/li>\n<li>On Deribit, BTC options out to August expiry show a slight bias toward put, or protective, options. ETH options showed a bullish bias across all tenors.<\/li>\n<li>ETH&#8217;s implied volatility (IV) term structure steepened while BTC&#8217;s remain unchanged. Flows at OTC desk Paradigm featured a long position in the BTC $115K put expiring on Aug. 13 and demand for $150K calls expiring in September.<\/li>\n<li>Volumes were substantial, with $3.3 billion traded at Paradigm.<\/li>\n<\/ul>\n<p><strong>Token Talk<\/strong><\/p>\n<ul>\n<li><strong>Ethena<\/strong> surpassed $11.89B in TVL, becoming the sixth DeFi protocol to cross $10B and the second non-staking model after Aave to do so. The sUSDe APY sits at 4.72%, attracting yield-focused investors.<\/li>\n<li>The protocol\u2019s scale underscores growing appetite for non-staking DeFi models and could influence future designs. Market reaction has been broadly positive, with industry figures noting the milestone\u2019s significance.<\/li>\n<li>USDe maintains a $1 peg with a $10.48B market cap and $371.97M in 24-hour volume.<\/li>\n<li><strong>Polymarket<\/strong> will transition UMA\u2019s oracle from OOV2 to MOOV2 after governance approval, restricting market resolution proposals to a whitelist of vetted participants.<\/li>\n<li>The change aims to reduce disputes and market manipulation by ensuring proposals are submitted by experienced users, while keeping dispute rights open to all.<\/li>\n<li>The initial whitelist includes 37 addresses, with the shift framed as moving from open debates to a more controlled council-style resolution process.<\/li>\n<li><strong>Pudgy Penguins<\/strong> secured Formula 1 branding at the Singapore Grand Prix after winning Kraken\u2019s memecoin trading contest. PENGU branding will appear on Williams Racing\u2019s FW47 car.<\/li>\n<li>The token gained 55.1% over the past 30 days while dipping 11.8% in 24 hours, partially rebounding with a 1.4% intraday gain.<\/li>\n<li>The exposure is expected to boost visibility among mainstream audiences and strengthen Kraken\u2019s push into sports-linked crypto promotions.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The global crypto market cap rose 2% in the past 24 hours to $4.03 trillion as major cryptocurrencies posted gains. Bitcoin (BTC) added 2.3% to $118,527, ether rose 0.7% to $4,293. Solana and XRP each advanced 4.4% while Dogecoin gained 4.7%. The rallies came alongside heavy short liquidations, with risk sentiment improving after a relatively [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-41696","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41696"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41696\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}