{"id":41919,"date":"2025-08-13T10:31:56","date_gmt":"2025-08-13T10:31:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41919"},"modified":"2025-08-13T10:31:56","modified_gmt":"2025-08-13T10:31:56","slug":"markets-today-okb-fart-surge-as-ether-races-toward-record-highs","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41919","title":{"rendered":"Markets Today: OKB, FART Surge as Ether Races Toward Record Highs"},"content":{"rendered":"<div>\n<p>The crypto market was a sea of green early Wednesday, with altcoins including OKB, PUMP, BNSOL, JITOSOL and SOL chalking out double-digit gains alongside ether&#8217;s rapid surge toward record highs. <\/p>\n<p>&#8220;Bitcoin rose by a modest 0.4% during the day and remains 2% below the levels of 30 days ago \u2014 clear evidence of the market&#8217;s switch to altcoin-mode,&#8221; Alex Kuptsikevich, the chief market analyst at the FxPro said. <\/p>\n<p>&#8220;We suspect that investors are selling the first cryptocurrency to finance purchases of altcoins. And it is hardly reasonable to talk about a reversal in sentiment, given the rally in altcoins and the historic highs of the S&amp;P 500 and Nikkei 225,&#8221; he said. <\/p>\n<h2>Derivatives Positioning<\/h2>\n<ul>\n<li>Ether&#8217;s (ETH) price rise is accompanied by fresh capital inflows into CME-listed futures, where open interest in standard contracts sized at 50 ETH has increased to 1.85 million ETH, up from 1.5 million ETH just over a week ago.<\/li>\n<li>Traders appear to be positioning for an upside as the annualized three-month basis has topped 10%. In bitcoin&#8217;s (BTC) case, CME basis remains near 7.5%.<\/li>\n<li>The altcoin market shows no signs of overheating despite ether surging toward record highs. That&#8217;s evident from perpetual funding rates on offshore exchanges, which remain pinned near annualized 10% for most major tokens.<\/li>\n<li>Open interest in privacy-focused Monero (XMR) rose to the highest level since December, as the token&#8217;s price dropped to $245, the lowest since April. The data indicate that traders sold the rally to profit from the price drop.<\/li>\n<li>On Deribit, ether traders chased calls at strike $5,000 and higher in a sign of bullish market sentiment. ETH calls traded at a premium relative to puts across all tenors. Still, ether&#8217;s 30-day implied volatility index, ETH DVOL, remained pinned in recent ranges around 70%.<\/li>\n<li>BTC&#8217;s implied volatility also remained relatively steady. Flows on the OTC network Paradigm featured demand for higher-strike OTM calls, particularly the $ 160,000 strike.<\/li>\n<\/ul>\n<h2>Token Talk<\/h2>\n<ul>\n<li><strong>OKB <\/strong>surged to a record $142 (+200%) after OKX announced a <a href=\"https:\/\/www.coindesk.com\/business\/2025\/08\/13\/okx-slashes-okb-token-supply-by-50-with-usd7-6b-burn-price-surges\">permanent supply cut<\/a> to 21M tokens \u2014 one of the largest in its history \u2014 alongside a \u201cPP upgrade\u201d to its Polygon-powered X Layer chain.<\/li>\n<li>The upgrade boosts throughput to 5,000 TPS, cuts gas fees to near zero and adds gasless USDT withdrawals. <\/li>\n<li>OKX will also decommission OKTChain, halting OKT trading on Aug. 13 and converting balances to OKB from Aug. 15.<\/li>\n<li><strong>Eden Network<\/strong> is shutting down all services, including Eden RPC and Bundles, citing unprofitable competition in the MEV relay and block-building space.<\/li>\n<li>Starting in 2021 to optimize MEV revenue for miners and validators, Eden saw early success but lost ground <a href=\"https:\/\/www.coindesk.com\/learn\/what-is-the-merge-and-why-has-it-taken-so-long\">post-Merge<\/a> as the market consolidated around a few operators.<\/li>\n<li><strong>FARTCOIN <\/strong>rose 17% as whale wallets with $1M+ in holdings increased supply by 2% over 24 hours, while \u201csmart money\u201d addresses boosted holdings by 3%.<\/li>\n<li>MACD momentum on the daily chart is bullish, with the token eyeing a breakout above $1.74 if buying persists. Key support sits at $0.74 if momentum fades.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market was a sea of green early Wednesday, with altcoins including OKB, PUMP, BNSOL, JITOSOL and SOL chalking out double-digit gains alongside ether&#8217;s rapid surge toward record highs. &#8220;Bitcoin rose by a modest 0.4% during the day and remains 2% below the levels of 30 days ago \u2014 clear evidence of the market&#8217;s [&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-41919","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\/41919","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=41919"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41919\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}