No, it’s not a misprint. Jamie Crawley at Coindesk reports today that “Bullish expands worldwide” amid some rebound for Bitcoin and other top cryptocurrencies.
Yes, there is an exchange called “Bullish” where top brass have chosen a moniker that speaks its mind (even if it can be a little confusing, like naming a fast food chain “Burger”) – with a reported $2 billion in liquidity and backing from parties like Galaxy Digital and Peter Thiel, Bullish plans to utilize an SPAC IPO early next year.
The exchange, Crawley reports, has already hit 150 million in daily trading volume.
In promo lit, Bullish bills itself as “a new kind of exchange” promising “deep liquidity, automated market making and industry-leading security.”
“Bullish Liquidity Pools let you share in the fees generated from both trading fees and lending interest, as assets are deployed at scale for automated market making (AMM) and safe margin lending,” spokespersons write. “So you have a chance to earn passive fees, while your assets maintain a balanced ratio across variable market conditions. And all this in a regulated environment.”
So if you’re inclined, go check it out and see if Bullish has what you want to conduct your defi strategies.
For market context, Bullish will have to compete with big names like Binance and Coinbase, along with a whole host of new platforms built to accommodate cryptocurrency and decentralized finance trading.
Also, many new platforms are expanding into NFTs and trying to find ways to get around high ETH gas fees. Protocols like BSV and others are gaining traction. Will this market take off like some think it will?
Meanwhile, BTC is up around $48,000, overall not too bad after the slump that the coin has been experiencing the last half of this year. We can look for more green as we deck the Christmas trees.
What else will 2022 bring for crypto? Write back and tell us.