Today's Cryptocurrency Gains Lead Axelar Flare Injective Convex Finance

This Friday at 8:00 AM UTC, leading crypto derivatives exchange Deribit will see a staggeringly large options expiration involving $10.18 billion in Bitcoin (BTC) and Ethereum (ETH). This accounts for more than 40% of Deribit’s total open interest, which currently exceeds $23 billion. Such huge quarterly expiration usually triggers increased market volatility, with traders scrambling to adjust their positions, making price movements difficult to predict.

According to Deribit CEO Luuk Strijers, $2.7 billion of these options are expected to be profitable (inside). This figure exceeds $10 billion in notional value. This upcoming event will have a significant impact on the market, and traders are preparing for the possibility of huge changes. Despite the recent drop of nearly 9% in Bitcoin and nearly 10% in Ethereum, investors are actively seeking higher premiums for call options. This shows a bullish sentiment, suggesting expectations for a market rebound despite the recent price pressure.

Today's Biggest Crypto Gainers - Ranking
Axelar, Flare, Injective, and Convex Finance emerged as the top gainers today, driven by the massive volatility in their respective markets. Axelar excels in secure cross-chain communication infrastructure, gaining traction among developers and users. Meanwhile, Flare uses EVM-based technology to facilitate decentralized data access, promote innovative dApp solutions, and expand its utility. Injective excels in DeFi, with a decentralized order book and cross-chain capabilities. In contrast, Convex Finance improves returns for liquidity providers in the Curve ecosystem, influencing DeFi strategies. These gainers showcase a variety of blockchain innovations poised to grow in the cryptocurrency market.

Axelar aims to provide secure cross-chain communication for Web3. It provides a decentralized network and necessary tools for developers of decentralized applications (dApps). Its protocol suite includes a decentralized network and a software development kit (SDK) with a set of protocols and APIs. In addition, it provides gateway smart contracts designed to enable seamless cross-chain connections. Axelar distinguishes itself from projects that use optimistic settings or federated multi-signatures through its approach to secure cross-chain communication. Axelar enables open participation through a decentralized network of validators and the adoption of a proof-of-stake (PoS) consensus mechanism. Axelar simplifies the development of dApps through protocols, APIs, and tools, enabling cross-chain applications without the need to learn new programming languages. It also allows users to easily access decentralized network services with a single click.

Flare is an EVM-based layer 1 blockchain designed to provide decentralized access to high integrity data to other chains and the Internet. This enables developers to create dApps that interact with multiple chains and facilitate new use cases and monetization models with a single deployment. Flare's State Connector securely ingests event information from blockchains and the Internet. Flare Time Series Oracle (FTSO) provides decentralized price and data series. These protocols ensure reliable access to cryptocurrency prices, transaction data, and Web2 event information, enhancing the utility and reach of dApps.

99Bitcoins is a much-anticipated presale that has reached a critical stage. With a strong user base of over 700,000 and over 2 million registered course learners, 99Bitcoins plays a major role in cryptocurrency education. Notably, the platform has successfully raised over $2.3 million in its presale, marking a significant milestone.

Injective is a blockchain built for finance that aims to reinvent decentralized finance (DeFi) applications. It supports a variety of DeFi solutions, including decentralized exchanges, prediction markets, and lending protocols. One of its standout features is its fully decentralized, MEV-resistant on-chain order book. Injective's cross-chain bridging infrastructure works with Ethereum, IBC-enabled blockchains, and Solana to enable seamless transfer of assets.

Convex Finance is a DeFi protocol that enhances capital efficiency for Curve liquidity providers. LPs can stake through Convex instead of directly on Curve to earn increased CRV and liquidity mining rewards. This makes Convex a key player in the "Curve Wars", a highly competitive race to control the CRV token and influence Curve's interest rate as the largest DEX.