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Search results for March 16

Crypto

Prediction market trading hits record highs as Polymarket, Kalshi set crypto volume records

Polymarket and Kalshi both set record daily trading volumes in their crypto categories on June 2, as the broader crypto market slumped. Polymarket posted $176 million and Kalshi $108 million, according to Cryptopolitan. Prediction market trading also expanded, with May turnover reaching a monthly record of $28.4 billion, led by Kalshi. Polymarket had a larger amount of locked capital, while new entrants such as Hyperliquid\'s HIP-4 launched outcome-based contracts.

Crypto

Ethereum capped at $2,400 as ETF inflows lag and Binance holdings rise

Ethereum has tested resistance at $2,400 five times over the past month but failed to break through. Cointelegraph reported that inflows into spot Ethereum ETFs have totaled $500 million since March, while Binance’s ether holdings rose by about 400,000 ETH, weighing on sentiment. Futures market leverage has also eased near the resistance zone. Analysts cited rising exchange reserves and large inflows to Binance as adding to supply pressure around $2,400.

Crypto

Ethereum futures indicators improve but lack momentum; spot flows to decide retest of $2,450

An analysis said conditions for further gains in Ethereum have become more stable as overheating in the derivatives market cools. CryptoQuant analyst Darkfost said leverage use has declined while Ethereum trades in a $2,250 to $2,450 range, and Binance’s estimated leverage ratio has fallen to 0.57. Funding rates have also turned positive. Still, Darkfost said improved derivatives indicators are not enough to break $2,450, and sustained spot demand is needed.