September 13 Futures Market Data

Bitget2024/09/13 06:31

By:Bitget

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LayerZero's Growth in Q2 2024: New Networks, $5B in Transfers, and ZRO Token

In Q2 2024, LayerZero significantly expanded its omnichain interoperability protocol, adding 12 new networks and facilitating $5 billion in crypto transfers. The average value per transfer increased by 78%, reaching over $400 per message. Ethereum saw a 26% rise in transfer volume, aided by lower gas fees from the Dencun upgrade and omnichain restaking. LayerZero also launched its ZRO token on June 20, 2024, with an airdrop to 1.28 million eligible wallets. This token grants governance control over LayerZero's fee mechanism and had a market cap of $860 million by the end of Q2.

LayerZero supports over 50,000 omnichain applications (OApps) across sectors like gaming, DeFi, AI, and cross-chain communication. Its protocol allows secure communication between 80+ blockchains through decentralized verifier networks (DVNs) and Executors, ensuring the validity and execution of cross-chain messages. Despite a drop in total message volume, the increase in transfer value per message highlights more significant use of the platform by genuine users.

Source: Messari

Futures Market Updates

In the past 24 hours, both BTC and ETH futures experienced declines in open interest, with BTC down 1.12% and ETH down 1.69%. Trading volumes also dropped significantly, with BTC futures volume falling by 29.27% and ETH by 39.02%. BTC liquidations were nearly balanced between long and short positions, while ETH saw higher long liquidations. The long/short ratios for both assets had a slightly higher short bias. ETH's funding rate of 0.0052% was higher than BTC's 0.0017%.

BTC Futures Updates

Total BTC Open Interest: $30.34B (-1.12%)

BTC Volume (24H): $50.36B (-29.27%)

BTC Liquidations (24H): $7.78M (Long)/$8.97M (Short)

Long/Short Ratio: 49.92%/50.08%

Funding Rate: 0.0017%

Ether Futures Updates

Total ETH Open Interest: $10.43B (-1.69%)

ETH Volume (24H): $15.97B (-39.02%)

ETH Liquidations (24H): $9.88M (Long)/$4.96M (Short)

Long/Short Ratio: 49.48%/50.52%

Funding Rate: 0.0052%

Top 3 OI Surges

BIGTIME: $79.97M (+139.06%)

CKB: $26.85M (+129.21%)

WEN: $2.10K (+102.91%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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As the deadline set by Trump for imposing a 50% tariff approaches this Saturday, Canadian representatives held consultations with the U.S. side in Washington on Friday. According to Canadian media, the U.S.-Canada trade agreement plans to establish a tariff-rate quota (TRQ) system for Canadian steel exports: an annual export volume of up to 4 million tons will be subject to a 25% tariff, while any amount exceeding the quota will continue to face a 50% tariff. In exchange, Canada has agreed to remove all retaliatory tariffs on U.S. steel. Progress has been made in auto tariff negotiations, though Canada's demands have not been fully met. Trade in aluminum, lumber, and furniture still awaits resolution.

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