Category: Cryptocurrency

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DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, is excited to unveil its latest crypto derivatives report. This insightful report explores the market’s response to recent price fluctuations and the backdrop of the upcoming U.S. election.

Key Insights:

Decline in BTC Options Implied Volatility: Surprisingly, implied volatility for Bitcoin (BTC) options has dropped, despite the looming U.S. election. Traditionally, market uncertainty would lead to increased volatility ahead of major events, like the much-anticipated BTC Spot ETF launch, making this a noteworthy deviation.

Surge in Call Option Volumes: BTC call option trading volumes have surged significantly in recent weeks, potentially signaling a shift towards a bullish market sentiment.

Muted Futures Activity: While futures trading saw positive momentum with early October’s market volatility, open interest has remained relatively subdued compared to pre-September expiration levels.

Spike in BTC Perpetual Swap Volumes: Open interest in BTC perpetual swaps remained stable; however, trading volumes surged in response to early October’s volatility spike, marking an important market movement.

Cautious Sentiment in ETH Options: Ethereum (ETH) options also saw a decline in implied volatility. Put option volumes have surpassed call volumes over the past week, suggesting traders are taking a more cautious stance regarding ETH‘s future price movements.

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-oct-9-2024/

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
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The First Trading Arena Where 1,149 Traders Put Real Cash on the Line

SINGAPORE, Oct. 10, 2024 /PRNewswire/ — The Alpha Trading Cup 2024 is a high-stakes, live trading competition in which traders worldwide showcase their skills and dominate the financial markets. Hosted by Next Level Academy, Ascension Profits, and Monaxa, the event runs from August 15 to September 30, 2024.

This competition brings together top traders who compete in various asset classes, including crypto, forex, precious metals, indices, and stocks. With a prize pool of USD 44,000, participants also gain the unique opportunity to learn from seasoned professionals, test their strategies in real time, and potentially secure positions with hedge funds scouting for fresh talent.

“The purpose of the Alpha Trading Cup (ATC) is to discover the best traders and foster a culture of learning and collaboration,” says Sean Seah, Founder of Next Level Academy. “Our goal is to build a tribe of successful traders who are eager to share their knowledge and learn from one another. Throughout the competition, I’ve seen traders step up to share valuable lessons, strategies, and even their mistakes, while others have supported and guided newer participants. Together, we’ve helped over 1,000 traders progress, creating a thriving, supportive community.”

Over 1,149 traders from 22 countries have not only risked real money but also benefited from training by over a dozen world-class experts in diverse trading techniques, including algorithmic charting, crypto, forex, hedge fund strategies, and options. This is the first trading competition that combines high-stakes practical implementation with comprehensive education.

“While emotions may sway others, the quant trader focuses on data. The patterns are always there if you know how to find them, and that’s where the real opportunities lie,” says Alison Gan, AI Quant Trader at Next Level Academy.

Eric Ong, a Private Hedge Fund Advisor, adds, “The Alpha Trading Cup has enriched the trading community by fostering innovation, skill development, and collaboration. It provides a dynamic platform for traders of all levels to exchange knowledge and showcase their talents, driving the industry forward. The competition reinforces our commitment to integrity and sustainability by emphasizing ethical and responsible trading practices. As we celebrate this year’s participants, we recognize how the Alpha Trading Cup strengthens the entire trading ecosystem, creating a more informed, engaged, and resilient community. Together, we are shaping the future of trading.”

“When the Alpha Trading Cup (ATC) was first conceived, the idea was to create an enriching and informative environment for people from all walks of life to be able to learn and immerse themselves in the journey towards creating income in the financial markets. All too often, many people have the pre-conceived notion that being able to create income in the financial markets is only for proficient traders. Through this ATC and its related sharing sessions and tools and services provided, I’ve seen not just experienced traders profit but also beginner and novice participants alike.There has been tremendous growth in the community in terms of knowledge, financial gains, and breakthroughs. I sincerely wish that the vibrant ATC community continues their journey towards financial betterment through what they’ve learned and experienced in this ATC,” says Terence Tan, founder of Ascension Profits.

In the Alpha Trading Cup, participants invest their own capital, applying live strategies such as algorithmic trading and quantitative modeling, rather than relying on virtual capital or demo accounts. This ensures that every trader leaves the competition with actionable, practical techniques that can help them achieve financial independence.

About Next Level Academy

Next Level Academy is a premier educational platform offering comprehensive training and mentorship for investors and traders.

Known for its hands-on approach and expert-led events, Next Level empowers individuals to achieve financial freedom and transform their lives through effective wealth-building strategies.

About Monaxa

Monaxa is a leading online trading platform that empowers traders of all levels to achieve financial success. Through its educational resources, hands-on training, and cutting-edge technology, Monaxa enables individuals to trade a wide variety of assets and make informed financial decisions.

About Ascension Profits:

Ascension Profits empowers individuals to achieve financial freedom through strategic passive income generation and wealth compounding. We serve a diverse clientele—from busy professionals to entrepreneurs and retirees—all seeking to maximize their financial potential without additional time investment. Our proven methods enable clients to build wealth efficiently, allowing them to prioritize what truly matters: family, passions, and life experiences. At Ascension Profits, we don’t just build wealth; we pave the way for lives well-lived.

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SOURCE Next Level Academy

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The U.S. Securities and Exchange Commission (SEC) has taken significant steps to combat crypto market manipulation, an issue that has plagued the digital asset space for years. In a recent wave of enforcement actions, the SEC filed civil fraud charges against nine individuals and three companies accused of using market manipulation schemes to artificially inflate the value and trading volume of various cryptoassets. These cases highlight the ongoing challenges of regulating a nascent industry prone to exploitation

Crypto Market Manipulation: A Growing Concern

Crypto market manipulation has become a central concern for regulators as the digital asset market continues to evolve. The focus keyword, “crypto market manipulation,” has surfaced in numerous discussions as authorities attempt to curb illegal trading practices that deceive retail investors. The SEC’s charges are centered on fraudulent tactics that created the illusion of a thriving market, leading to substantial financial losses for unsuspecting investors.

One notable method used in these schemes is “wash trading,” a practice where traders simultaneously buy and sell the same cryptoasset to generate fake trading volume. By creating the appearance of liquidity and demand, fraudsters can manipulate prices, making the asset more attractive to potential investors. Wash trading has been illegal in traditional financial markets for decades, and U.S. regulators are now applying these standards to cryptocurrency as well.

SEC Targets Crypto Manipulation-as-a-Service

According to the SEC, two companies—ZM Quant and Gotbit—offered “market-manipulation-as-a-service.” These firms provided services to artificially inflate the trading volumes or manipulate the prices of certain cryptoassets, all while duping retail investors. By fostering an illusion of activity, they drove up interest and investment in assets that otherwise had little to no value.

One of the cryptoassets targeted by these manipulators was actually created by the FBI as part of an investigation into fraudulent activity within the crypto market. The asset’s creation allowed authorities to track illegal transactions and gather evidence against those involved in the manipulation schemes. This operation marks the first of its kind and signals that regulators are becoming more sophisticated in their approach to cracking down on crypto market manipulation.

Criminal Charges in Parallel Cases

In addition to the SEC’s civil charges, the U.S. Attorney’s Office for the District of Massachusetts filed parallel criminal charges. Several individuals were accused of market manipulation and wash trading in the crypto sector. Four defendants, including a Canadian resident, have pleaded guilty, and three others have been arrested in Texas, the U.K., and Portugal.

More than $25 million in cryptocurrency has been seized during the investigation, and multiple trading bots responsible for millions of dollars in wash trades across 60 different cryptocurrencies have been deactivated. This operation has significantly disrupted the infrastructure of these manipulation schemes, marking a critical victory for U.S. authorities in their effort to regulate the crypto market.

Implications for the Crypto Industry

The SEC’s actions reflect the growing concern over crypto market manipulation and its potential to harm investors. While the technology behind cryptocurrency is innovative, it has also opened the door to age-old financial scams like pump-and-dump schemes, where promoters artificially drive up the price of an asset before selling off their holdings, leaving investors with significant losses.

“We remain concerned about the ease with which the market for a cryptoasset can be manipulated and are committed to rooting out instances of such misconduct when it involves securities,” said Jorge Tenreiro, acting chief of the SEC enforcement division’s cryptoasset and cyber unit.

The allegations have not been proven, but three individuals have agreed to settlements with the SEC, subject to court approval. These settlements include conduct-based injunctions to prevent further violations of securities laws. The court will later determine financial penalties and disgorgement in these cases.

The Road Ahead for Crypto Regulation

As the crypto market grows, so does the need for stronger regulatory frameworks to protect investors from fraud. The SEC and other U.S. authorities have made it clear that they will not tolerate market manipulation in any form, whether in traditional securities or digital assets.

This crackdown on crypto market manipulation represents a turning point in the ongoing effort to regulate the industry. Investors can expect increased scrutiny on crypto exchanges, token issuers, and other market participants as regulators work to ensure transparency and fairness in the market.

The SEC’s focus on crypto market manipulation signals a new chapter in cryptocurrency regulation, one where enforcement actions and technological innovations work hand in hand to safeguard investors and uphold the integrity of the financial system.

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Crypto.com has taken a bold step in its ongoing battle against the U.S. Securities and Exchange Commission (SEC) by filing a lawsuit challenging the agency’s regulatory stance on cryptocurrencies. The legal action comes in response to a Wells Notice issued to Crypto.com, signaling potential enforcement actions due to alleged securities law violations.

The Wells Notice, which serves as a formal warning, has sparked significant debate in the cryptocurrency industry. Crypto.com argues that the SEC’s approach to regulating digital assets is overly broad and stifles innovation. The company claims that the lack of clear guidelines has left crypto businesses in a state of uncertainty, hindering their ability to operate effectively.

The lawsuit filed by Crypto.com seeks to compel the SEC to provide more precise regulatory frameworks. The company emphasizes the importance of clarity in regulations to foster growth and protect investors. Crypto.com insists that without such clarity, the U.S. risks falling behind in the global race for blockchain and cryptocurrency innovation.

Crypto.com’s legal team is building its case on the premise that cryptocurrencies represent a fundamentally different asset class that requires tailored regulatory treatment. They argue that applying traditional securities laws to digital assets is not only inappropriate but also detrimental to the industry’s growth.

In its defense, the SEC maintains that its regulatory actions are necessary to protect investors from potential fraud and market manipulation. The agency argues that many cryptocurrencies function similarly to securities and should therefore be subject to the same regulatory scrutiny.

This legal confrontation could set a significant precedent for how cryptocurrencies are regulated in the United States. Industry experts are closely monitoring the case, as its outcome could influence future regulatory policies and the broader acceptance of digital currencies.

As Crypto.com continues its legal battle, other crypto companies are expressing solidarity, with some considering similar actions. The case highlights the ongoing tensions between regulatory authorities and the rapidly evolving cryptocurrency market.

Crypto.com, known for its user-friendly platform and innovative financial products, is determined to lead the charge for clearer regulations. The company believes that with the right legal framework, cryptocurrencies can thrive and provide immense value to both individual investors and the global financial system.

This lawsuit marks a pivotal moment for the cryptocurrency industry, as it seeks to balance regulatory compliance with the need for innovation and growth. The outcome of this case could redefine the future of digital assets in the U.S., setting a course for more defined and supportive regulatory environments.

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The ongoing battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken another turn as the SEC filed an appeal against the recent court ruling that declared XRP not to be a security. This legal struggle has captured the attention of the crypto industry, as it holds significant implications for the regulatory landscape of digital assets.

Ripple, a prominent blockchain company, has been embroiled in a legal conflict with the SEC since December 2020. The crux of the dispute lies in whether XRP, Ripple’s native cryptocurrency, should be classified as a security. The initial ruling in July 2023 was a major victory for Ripple, as the court determined that XRP does not meet the criteria of a security, thereby exempting it from the stringent regulations that securities must adhere to.

However, the SEC’s decision to appeal this ruling underscores its firm stance on maintaining regulatory control over cryptocurrencies that it believes fall under its jurisdiction. The appeal process is expected to prolong the legal proceedings, causing further uncertainty in the crypto markets.

This case is pivotal for the broader cryptocurrency industry as it could set a precedent for how digital assets are classified and regulated in the United States. A ruling in favor of the SEC could lead to increased regulatory scrutiny over other cryptocurrencies, potentially impacting their market dynamics and prices.

Investors and crypto enthusiasts alike are closely monitoring the situation, aware that the outcome could influence the future of blockchain technology and its adoption across various sectors. The case also highlights the necessity for clear regulatory guidelines to promote innovation while safeguarding investor interests.

As the appeal process unfolds, Ripple remains optimistic. The company continues to argue that XRP functions primarily as a digital currency and not as an investment contract, a key characteristic of securities. Ripple’s legal team is preparing to counter the SEC’s arguments, emphasizing the importance of technological advancement and the need for regulatory frameworks that align with the evolving nature of digital assets.

Moreover, the crypto community is rallying behind Ripple, viewing the SEC’s actions as an overreach that could stifle innovation. Industry leaders are advocating for a balanced approach that fosters growth while ensuring compliance and consumer protection.

While the appeal is unlikely to be resolved quickly, its outcome will have lasting implications. The legal battle between Ripple and the SEC serves as a microcosm of the broader regulatory challenges facing the cryptocurrency industry. As stakeholders await the next developments, the case underscores the urgency for comprehensive regulatory clarity to guide the future of digital finance.

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OpenSea, the leading NFT marketplace, has recently received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), indicating that the agency may take enforcement action against the company. This notice is generally a precursor to formal charges, giving the recipient a chance to respond before any official action is taken.

The SEC’s investigation focuses on whether certain NFTs (non-fungible tokens) offered by OpenSea should be classified as securities. If they are deemed to be securities, OpenSea could be accused of operating an unregistered securities exchange. This would have significant ramifications for the company and potentially the entire NFT market.

OpenSea’s potential legal troubles come amid increasing scrutiny of the broader crypto and NFT markets. Regulators around the world are grappling with how to classify and regulate these emerging digital assets. The SEC has been particularly active in this area, previously targeting other crypto-based platforms and projects.

Industry experts suggest that the outcome of this case could set a precedent for how NFTs are regulated in the future. If the SEC decides that NFTs are securities, other NFT marketplaces and platforms might also come under regulatory scrutiny. This could lead to increased compliance costs and potentially stifle innovation in the space.

Despite the looming legal challenges, OpenSea remains a dominant player in the NFT market. The platform has facilitated billions of dollars in transactions and attracted millions of users. Its success has also drawn significant investment, with the company valued at over $13 billion in its last funding round.

OpenSea has stated that it intends to cooperate fully with the SEC and is committed to ensuring that its platform complies with all applicable laws and regulations. The company has also emphasized its belief that NFTs represent a new and innovative way for artists and creators to monetize their work, and it hopes to continue supporting this burgeoning ecosystem.

The SEC’s focus on OpenSea highlights the broader regulatory challenges facing the crypto and NFT industries. As these markets continue to evolve, it is likely that regulatory bodies will play an increasingly central role in shaping their development. For now, all eyes are on OpenSea as it navigates this complex legal landscape.

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Bitcoin ETFs have recently seen a surge in popularity, attracting attention from major investors. These financial instruments offer a way to invest in Bitcoin without having to directly purchase and manage the cryptocurrency, which has been known for its volatility and security concerns.

One of the key drivers behind this trend is the growing acceptance of Bitcoin as a legitimate asset class. This shift in perception has been fueled by endorsements from prominent figures in the financial world. For instance, Morgan Stanley has allowed some of its wealthy clients access to Bitcoin funds, signaling a broader acceptance within the traditional financial sector.

Another significant factor is the regulatory environment. The U.S. Securities and Exchange Commission (SEC) has been more open to approving Bitcoin ETFs, providing a layer of legitimacy and security that individual Bitcoin investments lack. This regulatory support has made Bitcoin ETFs more attractive to institutional investors who require compliance and transparency.

One notable Bitcoin ETF is the one managed by Grayscale, which has seen substantial inflows. Grayscale’s Bitcoin Trust (OTC:GBTC) offers a way for investors to gain exposure to Bitcoin through a traditional investment vehicle. This has lowered the barrier to entry for many who are interested in Bitcoin but are wary of the complexities involved in direct investment.

Investors are also drawn to Bitcoin ETFs due to their potential for high returns. Bitcoin’s price has seen significant increases over the past few years, and many believe that it will continue to rise as adoption grows. ETFs provide a convenient way to capitalize on this potential without having to navigate the intricacies of cryptocurrency exchanges.

However, it’s important to note that Bitcoin ETFs are not without risks. The value of the ETF is closely tied to the price of Bitcoin, which is known for its extreme volatility. Investors should be prepared for significant price swings and should consider their risk tolerance before investing.

In conclusion, the rise of Bitcoin ETFs represents a significant development in the financial markets. As more institutional investors get involved and regulatory frameworks evolve, these investment vehicles are likely to become even more popular. For those looking to gain exposure to Bitcoin, ETFs offer a compelling option that combines the benefits of traditional investment structures with the growth potential of cryptocurrency.

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Goldman Sachs, one of the leading global investment banks, has made a significant move into the cryptocurrency market. According to a recent filing, the financial giant holds more than $400 million in Bitcoin Exchange-Traded Funds (ETFs). This investment marks a substantial shift in the bank’s strategy, showcasing its growing interest in the digital asset realm.

The filing detailed that Goldman Sachs has invested in several Bitcoin ETFs, which are funds that track the price of Bitcoin and allow investors to gain exposure to the cryptocurrency without directly owning it. These ETFs are becoming increasingly popular among institutional investors who seek to capitalize on the potential growth of Bitcoin while mitigating some of the risks associated with direct ownership.

Goldman Sachs’ foray into Bitcoin ETFs is part of its broader strategy to embrace digital assets. The bank has been gradually expanding its offerings in the cryptocurrency space, including providing Bitcoin futures trading and establishing a cryptocurrency trading desk. This move aligns with the increasing acceptance of cryptocurrencies by mainstream financial institutions and highlights the growing demand for crypto-related investment products.

In the filing, it was revealed that the majority of Goldman Sachs’ Bitcoin ETF holdings are concentrated in a few key funds. These include the Purpose Bitcoin ETF, the world’s first Bitcoin ETF launched in Canada, and the Galaxy Bitcoin ETF, which is managed by Galaxy Digital, a financial services firm dedicated to the digital asset and blockchain technology sectors. The Purpose Bitcoin ETF has been particularly popular since its inception, attracting significant inflows from institutional investors.

The investment in Bitcoin ETFs by Goldman Sachs is seen as a bullish signal for the cryptocurrency market. It suggests that the bank views Bitcoin as a viable long-term investment and is confident in the future growth potential of the digital currency. This move could pave the way for other major financial institutions to follow suit and increase their exposure to Bitcoin and other cryptocurrencies.

Moreover, Goldman Sachs’ involvement in Bitcoin ETFs could provide a boost to the overall market liquidity and stability. As more institutional investors enter the space, the market could become less volatile and more attractive to a broader range of investors. This increased participation could also lead to further development and innovation within the cryptocurrency industry.

Despite the positive implications, there are still challenges and risks associated with investing in Bitcoin ETFs. Regulatory uncertainty remains a significant hurdle, as governments and financial regulators around the world continue to grapple with how to effectively oversee and regulate the burgeoning cryptocurrency market. Additionally, the inherent volatility of Bitcoin and other cryptocurrencies poses risks to investors, requiring them to exercise caution and conduct thorough due diligence.

Nevertheless, Goldman Sachs’ substantial investment in Bitcoin ETFs represents a landmark moment for the cryptocurrency industry. It underscores the growing legitimacy and acceptance of digital assets within the traditional financial sector and signals a shift in how major financial institutions perceive and engage with cryptocurrencies.

As the adoption of Bitcoin ETFs continues to rise, it will be interesting to see how other major banks and financial institutions respond. Will they follow Goldman Sachs’ lead and increase their exposure to Bitcoin and other digital assets? Only time will tell, but one thing is certain: the cryptocurrency market is evolving rapidly, and the involvement of heavyweight financial players like Goldman Sachs is likely to accelerate its growth and maturation.

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Grayscale Investments, a prominent player in the digital currency investment space, has recently launched a new fund dedicated to investing in the MakerDAO token. This move marks a significant step in the company’s ongoing efforts to provide investors with diversified exposure to the growing decentralized finance (DeFi) sector.

The new fund aims to capitalize on the increasing interest in DeFi applications, which have gained substantial traction in recent years. MakerDAO, known for its stablecoin DAI and decentralized governance model, is at the forefront of this revolution. By launching a fund specifically for MakerDAO, Grayscale is positioning itself to attract investors who are eager to gain exposure to high-potential DeFi projects.

Michael Sonnenshein, CEO of Grayscale, expressed enthusiasm about the new fund, highlighting the importance of offering varied investment options in the rapidly evolving crypto landscape. He noted that MakerDAO’s innovative approach to decentralized finance aligns well with Grayscale’s mission to bring more transparency and accessibility to digital asset investments.

The MakerDAO token, MKR, plays a crucial role in the Maker ecosystem. It is used for governance, allowing token holders to vote on critical decisions that affect the protocol. Additionally, MKR is utilized to maintain the stability of DAI, MakerDAO’s decentralized stablecoin, which is pegged to the US dollar. The interplay between MKR and DAI is a unique aspect of MakerDAO, setting it apart from other DeFi projects.

Grayscale’s new fund is expected to draw interest from institutional and retail investors alike. Institutional investors, in particular, have been showing increased interest in the DeFi space, seeking opportunities that offer high returns and diversification benefits. The launch of this fund comes at a time when the DeFi market is experiencing robust growth, with total value locked (TVL) in DeFi protocols reaching all-time highs.

One of the key factors driving the success of MakerDAO is its strong community and decentralized governance model. Unlike traditional financial institutions, decisions within the MakerDAO ecosystem are made collectively by MKR token holders. This democratic approach ensures that the protocol remains aligned with the interests of its users and adapts to changing market conditions.

In addition to the new fund, Grayscale continues to explore other opportunities in the digital asset space. The company’s portfolio already includes funds for Bitcoin, Ethereum, and several other major cryptocurrencies. By expanding its offerings to include DeFi tokens like MakerDAO, Grayscale is demonstrating its commitment to staying ahead of market trends and providing investors with a comprehensive range of investment options.

For investors interested in the new MakerDAO fund, it is essential to understand the risks involved. As with any investment in digital assets, there are inherent risks, including market volatility, regulatory changes, and technological challenges. However, the potential rewards of investing in a leading DeFi project like MakerDAO may outweigh the risks for many investors.

In summary, Grayscale’s launch of a fund dedicated to the MakerDAO token represents a significant development in the world of digital asset investments. This move not only highlights the growing importance of DeFi but also underscores Grayscale’s role as a pioneer in the industry. As the DeFi market continues to evolve, Grayscale’s new fund is poised to offer investors a unique opportunity to participate in the future of finance.

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