Bybit has announced the listing of TRUMPUSDT for Perpetual Pre-Market Trading, marking a significant step in its derivatives offerings. The trading will commence with a Call Auction on January 18, 2025, at 9:35 AM UTC, followed by structured phases to ensure market stability.
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Key Details of the TRUMPUSDT Listing
Trading Phases
- Call Auction: Initial price discovery period.
- Order Withdrawal: Participants may adjust or cancel orders.
- Match-Making Tradeoff: Orders are matched based on liquidity.
- Continuous Auction (if applicable): Ongoing trading post-auction.
Note: This listing is for pre-market notice and does not guarantee permanent inclusion on Bybit’s platform.
Broader Crypto Market Updates
Regulatory Developments
- SEC Pauses Grayscale ETF Approval: The SEC halted Grayscale’s Digital Large Cap Fund ETF, citing regulatory concerns. The fund includes Bitcoin, Ethereum, Solana, XRP, and Cardano.
- Hong Kong’s Stablecoin Framework: Effective August 1, Hong Kong introduces regulated stablecoin operations, reinforcing its role in global offshore yuan transactions.
Institutional Moves
- KBC Bank’s Crypto Offering: Belgium’s KBC will enable Bitcoin and Ethereum purchases via its Bolero platform this fall.
- BlackRock’s Bitcoin ETF Success: iShares Bitcoin ETF (IBIT) outperforms its S&P 500 fund in revenue due to higher fee structures.
Market Trends & Predictions
- Standard Chartered’s Bitcoin Forecast: Projects Bitcoin could reach $200K by end-2025, driven by ETF inflows and corporate demand.
Corporate Bitcoin Holdings:
- Strategy: Acquired 4,980 BTC ($531.9M), totaling 597,325 BTC (~2.8% of circulating supply).
- Metaplanet: Now the 7th-largest corporate BTC holder with 12,345 BTC ($1.3B).
Emerging Crypto Products
- Solana ETF Proposal: Invesco and Galaxy Digital filed for a Solana ETF ("QSOL") with the SEC.
- Paxos’s Global Dollar Stablecoin: Launched in the EU, compliant with MiCA regulations.
FAQ Section
1. What is Perpetual Pre-Market Trading?
A derivative trading phase allowing price discovery before official market opening, without expiration dates.
2. Why did the SEC pause Grayscale’s ETF?
Due to evolving regulatory scrutiny and the need for additional compliance checks.
3. How does Hong Kong’s stablecoin regulation impact the market?
It positions Hong Kong as a pioneer in regulated stablecoin ecosystems, boosting investor confidence.
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