KEYTAKEAWAYS
- Only 11 public blockchains generated over $100,000 in revenue in the past 7 days.
- The "October 11th Insider Whale" has closed its long positions of 15,000 ETH in batches, profiting $846,000.
- Arthur Hayes: Price Discovery for Major US Tech Stocks and Indices Expected to Occur in the Perpetual Contract Market
- KEY TAKEAWAYS
- Only 11 public blockchains generated over $100,000 in revenue in the past 7 days.
- The “October 11th Insider Whale” has closed its long positions of 15,000 ETH in batches, profiting $846,000.
- Arthur Hayes: Price Discovery for Major US Tech Stocks and Indices Expected to Occur in the Perpetual Contract Market
- DISCLAIMER
- WRITER’S INTRO
CONTENT
Only 11 public blockchains generated over $100,000 in revenue in the past 7 days.
According to Nansen data, only 11 public blockchains generated over $100,000 in revenue in the past 7 days. The top 6 are Tron, Ethereum, Solana, BNB, Bitcoin, and Base. They account for over 95% of on-chain user spending. The vast majority of the remaining public blockchains have low activity, with some generating near-zero revenue.
The “October 11th Insider Whale” has closed its long positions of 15,000 ETH in batches, profiting $846,000.
The “October 11th Short Insider Whale” has closed its long positions. It just closed its long positions of 15,000 ETH ($45.32 million) in batches, ultimately profiting $846,000.
Ultimately, the long position lasted less than four days before ending in profit. As of now, only the BTC long position from November 8th is currently showing a loss; all others are profitable, with the account accumulating a profit of $101 million.
Arthur Hayes: Price Discovery for Major US Tech Stocks and Indices Expected to Occur in the Perpetual Contract Market
BitMEX co-founder Arthur Hayes published an article today titled “Survival of the Fittest: How Perpetual Contracts Are Disrupting Traditional Finance,” pointing out that traditional finance (TradFi) is desperately trying to maintain its dominance in stock trading. It will be very interesting to observe how they respond to the rapid market acceptance of stock index perpetual contracts. The first perpetual contract sector to dominate the market will be offshore trading of US stock price risk. US stocks, and all stocks, will eventually be tokenized. However, stock index perpetual contracts do not rely on stock tokenization to succeed. Stock perpetual contracts already have mature infrastructure that allows for rapid scaling. Currently, daily trading volume for stock index perpetual contracts exceeds $100 million. As traders and market makers become familiar with the contract specifications, trading volume will soon reach billions of dollars daily. Given the frequent breaking news and announcements from around the world after the TradeFi market closes every Friday, stock index perpetual contracts will become a tool for institutional and retail traders to hedge risks over the weekend. This will force major US securities trading platforms to implement 24/7 trading faster than originally planned.
It is predicted that by the end of 2026, price discovery for the largest US tech stocks and major stock indices (such as the S&P 500 and Nasdaq 100) will occur in the perpetual contract market for retail investors. The market landscape will change significantly when financial media show S&P 500 perpetual contract quotes as the best pricing source, rather than the CME Globex version. Furthermore, it states that the next wave of cryptocurrency exchange billionaires will come from the intersection of perpetual contracts and stocks.
