Credit/Macro/Crypto Analyst, Former Credit/MA PM

Rose Choy

Crypto

<ul>
<li>The new Mastercard Binance debit card allows users to make purchases with selected cryptocurrencies in their Binance wallet and will first be rolled out in Argentina.</li>
<li>BNB, the Binance native token, will benefit from network effect as adoption for the crypto card grows.</li>
<li>Binance is expanding its payment strategy as a tool to drive user adoption and expand its ecosystem.</li>
</ul>


The new Mastercard Binance debit card allows users to make purchases with selected cryptocurrencies in their Binance wallet and will first be rolled out in Argentina.
BNB, the Binance native token, will benefit from network effect as adoption for the crypto card grows.
Binance is expanding its payment strategy as a tool to drive user adoption and expand its ecosystem.


Mastercard Partnership with Binance: BNB Will Benefit from Network Effect

<ul>
<li>We use a simple framework to analyse 3 exchange tokens’ value and we find FTT and LEO tokens are decent bear market plays.</li>
<li>For crypto exchanges, buying the token is the only way for non-VC investors to gain exposure to the growth. Private valuations could differ greatly from the publicly traded valuations. </li>
<li>While exchange tokens are the easiest to understand and most equity-like in the traditional finance sense, we can also further apply the framework to tokens on other protocols.</li>
</ul>


We use a simple framework to analyse 3 exchange tokens’ value and we find FTT and LEO tokens are decent bear market plays.
For crypto exchanges, buying the token is the only way for non-VC investors to gain exposure to the growth. Private valuations could differ greatly from the publicly traded valuations. 
While exchange tokens are the easiest to understand and most equity-like in the traditional finance sense, we can also further apply the framework to tokens on other protocols.


Bear Market Plays - Crypto Exchange Tokens

Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Fintech & EM-focused Analyst

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>Options offer an additional source of yield that could be much more sustainable in the long run for investors in DeFi.  </li>
<li>The current ecosystem of DeFi options protocols is divided into two main layers - the marketplace layer and the structured product layer.</li>
<li>Opyn, Ribbon Finance, and Dopex are the three protocols we think will have an exciting year ahead.</li>
</ul>


Options offer an additional source of yield that could be much more sustainable in the long run for investors in DeFi.  
The current ecosystem of DeFi options protocols is divided into two main layers - the marketplace layer and the structured product layer.
Opyn, Ribbon Finance, and Dopex are the three protocols we think will have an exciting year ahead.


DeFi Options Protocols Series (#1): The New "Robhinhood" Of DeFi?

<ul>
<li>From a cryptocurrency buyer's perspective, the competitive landscape of crypto exchanges can be broadly divided into Fintech companies, centralized exchanges, and decentralized exchanges.</li>
<li>These three categories of companies target different user segments and offer different value propositions to the users.</li>
<li>Instead of replacing each other, the key future trend could be platforms that combine the advantages of centralized and decentralized exchanges.</li>
</ul>


From a cryptocurrency buyer's perspective, the competitive landscape of crypto exchanges can be broadly divided into Fintech companies, centralized exchanges, and decentralized exchanges.
These three categories of companies target different user segments and offer different value propositions to the users.
Instead of replacing each other, the key future trend could be platforms that combine the advantages of centralized and decentralized exchanges.


Crypto Exchanges: Is the Disruptor Being Disrupted?

Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>The SEC's approval of 19b-4 forms marks a critical step towards spot Ethereum ETFs, signaling a potential near-term final approval that could drive significant ETH spot buying.</li>
<li>Despite recent gains following ETF approval news, Ethereum remains a laggard in the crypto rally, underperforming relative to Bitcoin and smaller cryptocurrencies like Solana, BNB, and Dogecoin.</li>
<li>Bitcoin faces headwinds from an expected influx of supply due to Mt. Gox repayments and losses from the DMM hack, which could pressure BTC prices in the short term.</li>
</ul>


The SEC's approval of 19b-4 forms marks a critical step towards spot Ethereum ETFs, signaling a potential near-term final approval that could drive significant ETH spot buying.
Despite recent gains following ETF approval news, Ethereum remains a laggard in the crypto rally, underperforming relative to Bitcoin and smaller cryptocurrencies like Solana, BNB, and Dogecoin.
Bitcoin faces headwinds from an expected influx of supply due to Mt. Gox repayments and losses from the DMM hack, which could pressure BTC prices in the short term.


Long ETH, Short BTC on Expected ETH ETF Approval

United States

BNB was launched in 3rd July 2017 as an ERC-20 Token that enabled holders to get discounted trading fees at Binance Exchange. BNB has evolved over time to also be the native token of its own blockchain. BNB can still be used to pay for discounted Binance services though it is also heavily used as payment for gas when confirming transactions on BNB Chain.

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Binance Coin (XBIUSD CURNCY)

Mastercard Partnership with Binance: BNB Will Benefit from Network Effect

The newly launched Binance Mastercard prepaid card is a path for more mass adoption of crypto. BNB benefits from the network effect, as Binance...

Rose Choy

Bear Market Plays - Crypto Exchange Tokens

We use a simple framework to analyse 3 exchange tokens’ value and we find FTT and LEO tokens are decent bear market plays. We can also further...

Rose Choy

DeFi Options Protocols Series (#1): The New "Robhinhood" Of DeFi?

The first piece of a four-part DeFi options protocols series which delves into the three protocols (Opyn, Ribbon Finance, and Dopex) that we think...

Alec Tseung

Crypto Exchanges: Is the Disruptor Being Disrupted?

This Original looks to shed some light on the debate whether centralized crypto exchanges will be replaced by decentralized exchanges. The...

Alec Tseung

Long ETH, Short BTC on Expected ETH ETF Approval

SEC approval of 19b-4 forms paves way for spot Ethereum ETFs, while ETH lags behind in crypto rally. ETHBTC ratio may have present further upside.

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Mastercard Partnership with Binance: BNB Will Benefit from Network Effect

The newly launched Binance Mastercard prepaid card is a path for more mass adoption of crypto. BNB benefits from the network effect, as Binance...

Rose Choy

Bear Market Plays - Crypto Exchange Tokens

We use a simple framework to analyse 3 exchange tokens’ value and we find FTT and LEO tokens are decent bear market plays. We can also further...

Rose Choy

DeFi Options Protocols Series (#1): The New "Robhinhood" Of DeFi?

The first piece of a four-part DeFi options protocols series which delves into the three protocols (Opyn, Ribbon Finance, and Dopex) that we think...

Alec Tseung

Crypto Exchanges: Is the Disruptor Being Disrupted?

This Original looks to shed some light on the debate whether centralized crypto exchanges will be replaced by decentralized exchanges. The...

Alec Tseung

Long ETH, Short BTC on Expected ETH ETF Approval

​SEC approval of 19b-4 forms paves way for spot Ethereum ETFs, while ETH lags behind in crypto rally. ETHBTC ratio may have present further upside.

Mint Finance

SEC approval of 19b-4 forms paves way for spot Ethereum ETFs, while ETH lags behind in crypto rally. ETHBTC ratio may have present further upside.