Data-Driven Analysis of Cryptocurrency Markets, Kaiko

Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Kaiko is the leading cryptocurrency market data provider for institutional investors and enterprises. We empower market participants with accurate, transparent, and actionable financial data to be leveraged for a range of market activities. Kaiko’s mission is to be the foundation of the new digital finance economy by serving as a single source for market information. Our mission is premised on the idea that high-quality data drives market efficiency and greater transparency throughout the industry. For each of our enterprise clients, we build custom data plans designed for a range of use cases.

Crypto

<ul><li>Crypto optimists have said for the last few months that the worst is behind us.</li><li>Just in the last year we’ve seen the collapse of crypto hedge funds, lenders and exchanges.</li><li>They say the bad actors have been removed from the space and there’s only good news from here</li></ul>

Crypto optimists have said for the last few months that the worst is behind us.Just in the last year we’ve seen the collapse of crypto hedge funds, lenders and exchanges.They say the bad actors have been removed from the space and there’s only good news from here

<ul><li>In 2020 and 2021, investors opted for TIPS over conventional bonds, yet over the past year, they have moved the other way.</li><li>The TIPS ETF has fallen from $40bn of assets to $20bn, while the long bond ETF has doubled from $15bn to $30bn.</li><li>The loud and clear message from this shift is that investors are woefully unprepared for an inflation shock.</li></ul>

In 2020 and 2021, investors opted for TIPS over conventional bonds, yet over the past year, they have moved the other way.The TIPS ETF has fallen from $40bn of assets to $20bn, while the long bond ETF has doubled from $15bn to $30bn.The loud and clear message from this shift is that investors are woefully unprepared for an inflation shock.

When Bond Yields Exceed 4%, UK Governments Fall

<ul><li>It’s impossible to paint a full picture of Ethereum DeFi without an understanding of Curve.</li><li>Its unique AMM mechanism enables large stablecoin swaps with extremely low price slippage and its governance and incentives make it a kingmaker for stablecoins; Terra founder Do Kwon touted the infamous 4pool – containing UST – as the thing that would catapult his stablecoin ahead of DAI.</li><li>In the past, we have <a href="https://d2-cwy04.eu1.hubspotlinks.com/Ctc/W+113/d2-CwY04/VVM5M-4MT7sSW8kchtV5kG1dWW3X6sTS4XF--HN5n2LRN3q90_V1-WJV7CgVG_W7hxn1z8wmgYmW3z3-424Nk3PcW27_JZR1kR5zHW8_HKBx3lsDXdW3j7gRm3sCjV6W5rz7y3475_mtW5Zhttx5SYXL5W3ZvcT_7crWjKW7ZhKR_4J5kvcW7PL-9d6f7xhWW7pp0DS3gRcZhW1SDh4f8_lGMRML39MzsCC7WVcybsS2-_Tb9W5GH-bf6l2fVVW762KNb2DDPwbW5Z6GK82qrF01VtqqqB5qV809W3wT4w75QDv0PW39jpQ_2LVwrLN23LdMjX_YhWW7lwQ163QV7bgVqCRVX6wST9XW7j85gK33YzRlW4xJhy22-gjqMW3BsSMq26yWlJN3fgQvnYlRL7N5zq3b5lkl2cW6mjkcl9cB18_W1gh2T-6y80Fb326_1" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://d2-CwY04.eu1.hubspotlinks.com/Ctc/W%2B113/d2-CwY04/VVM5M-4MT7sSW8kchtV5kG1dWW3X6sTS4XF--HN5n2LRN3q90_V1-WJV7CgVG_W7hxn1z8wmgYmW3z3-424Nk3PcW27_JZR1kR5zHW8_HKBx3lsDXdW3j7gRm3sCjV6W5rz7y3475_mtW5Zhttx5SYXL5W3ZvcT_7crWjKW7ZhKR_4J5kvcW7PL-9d6f7xhWW7pp0DS3gRcZhW1SDh4f8_lGMRML39MzsCC7WVcybsS2-_Tb9W5GH-bf6l2fVVW762KNb2DDPwbW5Z6GK82qrF01VtqqqB5qV809W3wT4w75QDv0PW39jpQ_2LVwrLN23LdMjX_YhWW7lwQ163QV7bgVqCRVX6wST9XW7j85gK33YzRlW4xJhy22-gjqMW3BsSMq26yWlJN3fgQvnYlRL7N5zq3b5lkl2cW6mjkcl9cB18_W1gh2T-6y80Fb326_1&amp;source=gmail&amp;ust=1677884357107000&amp;usg=AOvVaw2xrho6lUWQX2iukgSzMdCY" rel="noopener">written</a> on how Curve pools can be a useful barometer for stablecoin demand particularly during volatile market events. </li></ul>

It’s impossible to paint a full picture of Ethereum DeFi without an understanding of Curve.Its unique AMM mechanism enables large stablecoin swaps with extremely low price slippage and its governance and incentives make it a kingmaker for stablecoins; Terra founder Do Kwon touted the infamous 4pool – containing UST – as the thing that would catapult his stablecoin ahead of DAI.In the past, we have written on how Curve pools can be a useful barometer for stablecoin demand particularly during volatile market events. 

Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

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Cross Asset Strategy

<ul>
<li>There still is an abundance of inflation out there. Eurozone 'Supercore' inflation has not peaked and is now at 6.0%, while US Core PCE stunned markets by accelerating.</li>
<li>The S&amp;P 500 Index <a href="https://www.smartkarma.com/entities/spdr-s-p-500-etf-trust" target="_blank" data-smartkarma-citation="entities:763:1" rel="noopener">SPDR S&amp;P 500 (SPY US)</a>  has closed within 1% of the 200-day moving average. Dropping below it, would trigger another sell signal.</li>
<li>The 2-year US Treasury Yield has made news high, but stock market valuation has not followed, providing additional downside for equities. <a href="https://www.smartkarma.com/insights/yields-up-add-another-10-downside-for-stocks" target="_blank" data-smartkarma-citation="insights:96301" rel="noopener">Yields Up? Add Another 10% Downside for Stocks!</a> </li>
</ul>


There still is an abundance of inflation out there. Eurozone 'Supercore' inflation has not peaked and is now at 6.0%, while US Core PCE stunned markets by accelerating.
The S&amp;P 500 Index SPDR S&amp;P 500 (SPY US)  has closed within 1% of the 200-day moving average. Dropping below it, would trigger another sell signal.
The 2-year US Treasury Yield has made news high, but stock market valuation has not followed, providing additional downside for equities. Yields Up? Add Another 10% Downside for Stocks! 


Weekly Market Monitor Week 8 - Sticky Inflation, Moving Average Anxiety, and the Bond Yield Issue

<ul><li>Price Movements: cbETH, Coinbase's liquid staking derivative, started trading at a discount after news broke that the SEC had fined Kraken $30mn. </li><li>Market Liquidity: LocalBitcoins shut down after 10 years of service after competition and a prolonged bear market sapped trade volume. </li><li>Derivatives: ETH options markets look bullish but more volatile than BTC. </li></ul>

Price Movements: cbETH, Coinbase's liquid staking derivative, started trading at a discount after news broke that the SEC had fined Kraken $30mn. Market Liquidity: LocalBitcoins shut down after 10 years of service after competition and a prolonged bear market sapped trade volume. Derivatives: ETH options markets look bullish but more volatile than BTC. 

United States

Virtual currencies are decentralized, math-based digital assets in which transactions can be performed cryptographically without the need for a central issuing authority. The first specification and proof of concept of Bitcoin, the first widely used virtual currency, was published in 2009 based on a paper published pseudonymously by Satoshi Nakamoto.

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Bitcoin (XBTUSD CURNCY)

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