A large bitcoin options trade anticipates a shift from the present low-volatility regime to a period of heightened price swings, potentially exceeding the $53,000-$87,000 range. The trade saw the entity pay a net premium of over $1 million to purchase 100 contracts of the $66,000 strike call and put options expiring on Nov. 29, according to data confirmed by Lin Chen, head of business development Asia at Deribit. A long straddle is preferred when the market is expected to move far enough in either direction to make the call or the put option worth more than the cumulative premium paid. For the strategy to turn profitable and overcompensate for the premium paid, the bitcoin price needs to move either above $87,000 or below $53,000 by the end of November, Chen told CoinDesk.

The incoming deposits should be enough to instantly vault Babylon to the top of the industry leaderboard for Bitcoin DeFi projects, with the Lightning Network a distant second at $321 million of collateral, based on DeFi Llama data. That’s still well below the overall DeFi projects, such as the Ethereum-based liquid staking platform Lido, with $23.7 billion of collateral, or EigenLayer, a retaking project on Ethereum, at $10.9 billion.

Still, Monday’s price action meant that BTC briefly reclaimed the 200-day moving average, which currently sits at $63,575 per TradingView data, but ultimately failed to hold above it. Moving and holding past that key level would reaffirm bitcoin’s uptrend since the lows of around $52,000 hit in the first week in September.

• Ubisoft is launching 10,000 NFTs for Captain Laserhawk: The G.A.M.E., offering early access and governance rights to holders.
• Dynamic NFTs evolve with player activity, allowing more influence and rewards as players progress in the game.

Ubisoft launched a 10,000-piece NFT collection on Ethereum scaling solution Arbitrum. Developed in tandem with Magic Eden, this NFT collection relates to Ubisoft’s upcoming game Captain Laserhawk: The G.A.M.E.

Some partnerships just make sense. We’ve teamed up with @ubisoft to launch their newest game, @EdenOnline_exe, built on the @arbitrum blockchain.

With this comes their upcoming NFT mint, and the first Arbitrum mint on Magic Eden.

Welcome to the Home of Web3. pic.twitter.com/k5xoORGbV6

— Magic Eden ? (@MagicEden) October 4, 2024

Every one of these NFTs provides more than only in-game bonuses. Early access to the game allows holders to affect important areas of its development by means of a governance architecture.

The dynamic NFTs are meant to change depending on the user’s behavior inside the game, so the more a player interacts, the more rewards and influence they can get.

Players have special benefits when their “Eden Score” rises, therefore confirming their place in the network of the game. This technique offers a degree of connection and ownership not usually available in conventional gaming.

Ubisoft Embraces Arbitrum for Scalable Web3 Integration 

It is noteworthy that Ubisoft decided to introduce these NFTs on the layer-2 Ethereum solution Arbitrum blockchain.

For a big-scale game project like Captain Laserhawk: The G.A.M.E., Arbitrum is becoming well-known for its scalability and efficiency. The participation of Magic Eden also marks the first time Arbitrum has been let to be minted.

Integrating Web3 technologies lets Ubisoft let its user base actively impact the game’s development, therefore promoting a more immersive and community-driven experience.

The success of initiatives like this one could define new benchmarks for how games are created and how users participate in decision-making procedures as Web3 gaming develops.

Ubisoft and Magic Eden are entering a really difficult market even if this project is generating great buzz. Recently trading volumes in the NFT and Web3 gaming sectors have dropped; non-Ethereum games especially have suffered.

The trade volume in this industry dropped dramatically in September 2024 compared to other months, which emphasizes the need for innovation and plans meant to spark player interest.

Tether said that it commends EU for their efforts with creating MiCA but noted that it introduces some complexities for stablecoins operating in the region. “Tether commends EU regulators for their efforts in establishing a structured framework, as it plays a key role in fostering growth within the sector. However, as we have consistently expressed, some aspects of MiCA make the operation of EU-licensed stablecoins more complex and potentially introduce new risks to both local banking infrastructure and stablecoins themselves,” a spokesperson for the stablecoin issuer told CoinDesk in a statement.

If the “Trump trade” plays out in a similar way to 2016, there should be higher U.S. Treasury yields, a stronger dollar, U.S. stock market outperformance, in particular banks, and tighter credit spreads, JPMorgan said. This shift has not happened yet, with only a small move higher seen in these markets.

BTC is flat, trading above $61,100, while ETH is down 4% and trading at $2,390. Crypto markets took a hit from Tuesday night after Irani airstrikes on Israel, which the latter has vowed to retaliate, in a move that has dented a rally in risk assets, including bitcoin.