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Flash

first_img Tesla delivered 486,500 vehicles in the third quarter, exceeding market expectations

According to a report by Financial Associated Press, Tesla's official website released data on October 2, showing that third-quarter deliveries reached 486,532 vehicles, exceeding analysts' average expectation of 463,761 vehicles; during the same period, production was 464,391 vehicles, and energy products deployed amounted to 13.7 gigawatt-hours. This delivery volume is lower than the 497,099 vehicles delivered in the same period last year, which was a record at the time, primarily because American consumers concentrated their purchases before the federal electric vehicle purchase incentives were canceled.Deliveries of Model 3 and Model Y in the third quarter totaled 478,237 vehicles, accounting for approximately 98.3% of the total deliveries for the quarter. Financial Associated Press reported that Tesla has ceased production of the higher-priced Model S and Model X, leaving only Model Y, Model 3, and Cybertruck available for consumer sales, and mentioned the revamped Roadster, which has begun production of a version without a steering wheel and pedals, as well as the sale of the Semi all-electric heavy truck.StoneX analyst Mickey Legg stated that the deliveries were better than expected, which could provide upside potential for automotive business forecasts, but there are still questions regarding the energy business. Financial Associated Press noted that Musk is pushing the company to shift towards artificial intelligence, autonomous vehicles, and humanoid robots, with plans to invest over $25 billion this year to expand factories and establish a Robotaxi business. Regulatory documents this week showed that the company has secured $30 billion in new loans and credit lines. Tesla's stock price rose nearly 6% during the day.

first_img Cboe is exploring the launch of VIX perpetual futures, still in the early stages

According to CoinDesk, Cboe is exploring the launch of perpetual futures linked to the VIX index, which is still in the early stages, with no contract specifications yet and no filing documents submitted. This news comes from Bloomberg.The VIX index measures the expected volatility over the next 30 days as reflected by the pricing of S&P 500 options. As investors buy options to hedge against sharp market declines, the demand for options during downturns surges, thereby raising the index, which is why it is regarded as Wall Street's "fear gauge." Perpetual futures were first proposed by economist Robert Shiller in 1993 and were subsequently commercialized by the cryptocurrency industry.A mature derivatives ecosystem has already formed around the VIX, covering futures, options, and exchange-traded products tracking the index. However, futures come with expiration dates, and when contracts terminate, traders must roll over their positions or shift their bets to the next available contract. This rolling operation is costly and erodes returns, which was a major criticism faced by Bitcoin futures ETFs when they debuted at the end of 2021.In contrast, perpetual swaps never settle and instead anchor contract prices to the spot index through a funding rate mechanism, theoretically providing investors with the closest investment channel to the actual VIX spot price. Martin Lee, Head of Market Insights at DWF Labs, told CoinDesk that traders do not need to worry about expiration and value decay, as they can focus solely on assessing the direction of the underlying asset. He expects a strong trend of "perpetualization" to emerge in the coming months.

first_img ARK Invest Digital Asset Research Director: USDe scale is expected to expand to 40 billion USD

ARK Invest's Director of Digital Asset Research Lorenzo Valente published a discussion on the synthetic dollar protocol Ethena: tokenized stocks are changing the landscape in which ENA operates. He stated that the supply of USDe had bottomed out at $3.8 billion and has now risen by about 30%, recovering to nearly $5 billion.Lorenzo Valente: The inverted or low funding rates in the crypto market have forced more USDe collateral to shift towards off-chain yields such as government bonds, with sUSDe's average annualized rate once approaching or falling below SOFR; the market capitalization has remained stable over the long term, and the open interest has also limited the pace of expansion. He noted that basis trading has rebounded to about 20% of the collateral and is growing rapidly, with the U.S. stock market size at approximately $70 trillion, averaging over 8% annual growth. Continued bullish demand is expected to bring sustained positive funding rates, with lower stock volatility and lower hedging costs.He believes this is the first clear path for USDe to expand its supply to over $20 billion, and reaching $30 billion to $40 billion in the next 12 to 18 months would not be surprising, as the upper limit has shifted from crypto open interest to tokenized stock open interest. He also mentioned that Ethena's infrastructure and operations have been validated, and it is expected that Ethena Pay will further drive USDe from the demand side, with the chains, protocols, and vaults supporting USDe's supply and circulation strategies becoming the main beneficiaries.
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