The cryptocurrency sector is one asset class that by no means sleeps, so it’s little shock that final week was one other busy one on this planet of crypto and blockchain.
We take a look at a number of the massive crypto tales from the previous week, together with the launch of a brand new crypto volatility index from choices agency Deribit, a ground-breaking blockchain-solar change initiative from Australia’s Victoria Bitter, and Coinbase tapping former US Securities and Exchange Commission (SEC) director, Brett Redfearn, because the agency’s new vice-president.
Deribit unveils Bitcoin Volatility Index
Deribit, the world’s largest crypto choices change by buying and selling quantity, in response to Coindesk, introduced the launch of a Bitcoin Volatility Index [DVOL] final week, which it says takes “the pulse of bitcoin; the barometer of market volatility and sentiment.”
The Panama-based change, launched in 2016 by CEO John Jansen, stated: “DVOL uses the implied volatility smile of the relevant expiries to output one number that gives a gauge of the 30-day annualised implied volatility.” Implied volatility refers back to the market’s expectations for worth turbulence over a particular interval, on this case the following 30 days.
“DVOL makes use of the implied volatility smile of the related expiries to output one quantity that provides a gauge of the 30-day annualised implied volatility” – John Jansen
The index works in the same solution to the well-established Volatility Index [VIX] – also known as the “fear index” – which tracks the anticipated volatility of the S&P 500 index However, Deribit refers to its bitcoin volatility index as an “action gauge”, as a result of “bitcoin options often have positive skew and the large moves are often expected on the upside as well as downside.”
Deribit plans to introduce futures on the bitcoin volatility index “soon”, which can allow merchants “to take a position based on the market view on near-term volatility.”
Blockchain allows photo voltaic credit score for beer swap programme
Last week additionally witnessed one other first: Victoria Bitter’s (VB) new Solar Exchange programme, which “enables beer lovers to trade their excess solar energy for slabs of Victoria Bitter.” The revolutionary growth in sustainability entails Japan’s Asahi Breweries  (which acquired Carlton & United Breweries in 2020), plus Australia-based firms Diamond Energy, which specialises in renewable power, and software program expertise agency Power Ledger.
“beer lovers [can] trade their excess solar energy for slabs of Victoria Bitter”
The programme is made attainable by Power Ledger’s blockchain-powered software program platform, which permits “users [to] trace the transactions of rooftop solar energy on a public ledger”, studies Coindesk. Participants can change credit score on their energy invoice from producing extra photo voltaic at residence — each $30 value of credit score may be exchanged for a case of Victoria Bitter, which is then delivered to the shopper’s residence.
The programme, which has 500 locations obtainable initially, is a part of “Asahi’s ambitious sustainability agenda, which includes a commitment to be powered by 100% renewable electricity by 2025”.
Former SEC director Brett Redfearn joins Coinbase
Another notable growth final week was crypto change Coinbase’s recruitment of the previous US SEC’s Brett Redfearn, as vice-president of its capital markets division. Redfearn had headed the SEC’s buying and selling and markets division till departing final 12 months, studies the Wall Street Journal’s Paul Vigna.
Redfearn “will be responsible for defining and driving a vision and strategy to set the global standard for crypto capital markets, including digital asset securities and our crypto platform”, stated Coinbase’s chief product officer Surojit Chatterjee, studies Coindesk.
Intriguingly, Redfearn’s earlier position included enforcement actions in opposition to preliminary coin choices from crypto start-ups. That expertise will now profit Coinbase forward of its anticipated direct itemizing on the Nasdaq change, now confirmed for 14 April. “I appreciated the significant potential in this space if issuers, markets, and market participants could appropriately navigate the regulatory landscape. And that is something I can help make happen,” Redfearn stated.
“I appreciated the significant potential in this space if issuers, markets, and market participants could appropriately navigate the regulatory landscape” – Brett Redfearn
Redfearn is clearly optimistic about the way forward for crypto, with numerous US regulatory developments “paving the way for greater opportunities for the crypto economy”, he stated.
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