July 24 Futures Market Dynamics

Bitget2024/07/26 05:01

By:Bitget

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TON Blockchain Simplifies User Onboarding with Gasless Transactions

The TON blockchain has introduced gasless transactions through the launch of the W5 smart wallet standard, allowing users to make transactions without holding toncoin. Instead, they can use USDT and Notcoin for transaction and gas fees. This innovation is a result of collaboration between the TON Core team and the non-custodial wallet Tonkeeper.

Tonkeeper CEO Oleg Andreev highlighted the wallet's enhanced security, efficiency, and user-friendliness, aiming to make blockchain technology more accessible to the mainstream audience. The W5 Smart Wallet simplifies getting started on the TON blockchain, eliminating the need for toncoin and incorporating features like two-factor authentication and password recovery.

The new standard also supports advanced parallel processing, enabling users to conduct up to 255 transactions simultaneously. This functionality opens up various use cases, such as transferring multiple NFTs or managing decentralized subscriptions efficiently.

The W5 standard is currently live on Tonkeeper and will soon be available on other wallets like TON Space and MyTonWallet. This development is part of TON’s broader strategy to increase adoption, leveraging Telegram's massive user base. The integration with Telegram’s mini-app games has driven a significant rise in active addresses on the TON blockchain, reaching over 350,000 daily active addresses by late July 2024.

Source: The Block

Futures Market Updates

In the past 24 hours, BTC futures have seen a notable increase in both open interest and volume. Conversely, ETH futures experienced only a slight uptick in open interest by 0.14%, while their volume dropped by 6.09%. BTC liquidations were more balanced between long and short positions, whereas ETH saw higher long liquidations than short liquidations. Additionally, the BTC long/short ratio is almost even at 50.03%/49.97%, while ETH leans slightly more short at 49.44%/50.56%. The funding rates are also marginally higher for BTC at 0.0088% compared to ETH's 0.0063%.

BTC Futures Updates

Total BTC Open Interest: $36.10B (+3.45%)

BTC Volume (24H): $68.34B (+3.65%)

BTC Liquidations (24H): $22.99M (Long)/$33.31M (Short)

Long/Short Ratio: 50.03%/49.97%

Funding Rate: 0.0088%

Ether Futures Updates

Total ETH Open Interest: $14.33B (+0.14%)

ETH Volume (24H): $37.11B (-6.09%)

ETH Liquidations (24H): $51.50M (Long)/$19.89M (Short)

Long/Short Ratio: 49.44%/50.56%

Funding Rate: 0.0063%

Top 3 OI Surges

CLOUD: $1.59M (+158.82%)

ZKL: $2.52M (+72.50%)

A8: $2.58M (+56.01%)

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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