Senior Cryptocurrency Analyst, Steno Research

Mads Eberhardt

Senior Cryptocurrency Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Crypto

<ul><li>Greetings from a sunny Copenhagen, where it feels like summer is just around the corner, and the warm weather seems to be spreading to the crypto market as well.</li><li>Bitcoin has risen by approximately 4.5%, reaching $72,250, and Ethereum has seen an increase of nearly 4%, up to $3,620 during the same timeframe.</li><li>We would like to reiterate our optimistic outlook from last week, as highlighted in both Crypto Crisp and Crypto Moves #22.</li></ul>

Greetings from a sunny Copenhagen, where it feels like summer is just around the corner, and the warm weather seems to be spreading to the crypto market as well.Bitcoin has risen by approximately 4.5%, reaching $72,250, and Ethereum has seen an increase of nearly 4%, up to $3,620 during the same timeframe.We would like to reiterate our optimistic outlook from last week, as highlighted in both Crypto Crisp and Crypto Moves #22.

<ul><li>We are swiftly approaching the fourth Bitcoin halving, which is expected to take place at block number 840,000.</li><li>Currently, the network has reached a block height of approximately 837,700.</li><li>Bitcoin experiences a halving event every 210,000 blocks.</li></ul>

We are swiftly approaching the fourth Bitcoin halving, which is expected to take place at block number 840,000.Currently, the network has reached a block height of approximately 837,700.Bitcoin experiences a halving event every 210,000 blocks.

Crypto Moves #22 – The 2024 Bitcoin Halving Will Be A ‘Buy the Rumor, Sell the News’ Event

<ul><li>As we predicted in the last few weeks’ Crypto Crisp, the crypto market has been relatively stable in recent weeks.</li><li>However, things are beginning to shift.</li><li>During a speech in San Francisco on Friday, Federal Reserve Chairman Jerome Powell mentioned that robust economic growth in the US allows Federal Reserve officials to take their time with interest rate cuts.</li></ul>

As we predicted in the last few weeks’ Crypto Crisp, the crypto market has been relatively stable in recent weeks.However, things are beginning to shift.During a speech in San Francisco on Friday, Federal Reserve Chairman Jerome Powell mentioned that robust economic growth in the US allows Federal Reserve officials to take their time with interest rate cuts.

<ul><li>We are witnessing an unexpected showdown in the crypto world.</li><li>On one side stands Larry Fink, co-founder and CEO of BlackRock, the world’s largest asset manager.</li><li>On the opposite side is Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC).</li></ul>

We are witnessing an unexpected showdown in the crypto world.On one side stands Larry Fink, co-founder and CEO of BlackRock, the world’s largest asset manager.On the opposite side is Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC).

Crypto Crisp: Larry Fink vs. Gary Gensler

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.

<ul><li>Market depth is a widely used measure of liquidity, commonly calculated across the order books of cryptocurrency pairs on centralized exchanges (CEXes).</li><li>It provides the amount of bids and asks at varying distances from the mid-price, encompassing a range from -0.1% to 10%.</li><li>This chart shows cumulative ETH-USDT bid and ask volumes at various levels on the ten largest CEXes.</li></ul>

Market depth is a widely used measure of liquidity, commonly calculated across the order books of cryptocurrency pairs on centralized exchanges (CEXes).It provides the amount of bids and asks at varying distances from the mid-price, encompassing a range from -0.1% to 10%.This chart shows cumulative ETH-USDT bid and ask volumes at various levels on the ten largest CEXes.

Comparing Liquidity on Uniswap and Binance

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)

Crypto Crisp: Bitcoin Leads the Market

Greetings from a sunny Copenhagen, where it feels like summer is just around the corner, and the warm weather seems to be spreading to the crypto...

Steno Research

Crypto Moves #22 – The 2024 Bitcoin Halving Will Be A ‘Buy the Rumor, Sell the News’ Event

We are swiftly approaching the fourth Bitcoin halving, which is expected to take place at block number 840,000. Currently, the network has reached...

Steno Research

Crypto Crisp: Where’s the Volatility?

As we predicted in the last few weeks’ Crypto Crisp, the crypto market has been relatively stable in recent weeks. However, things are beginning...

Steno Research

Crypto Crisp: Larry Fink vs. Gary Gensler

We are witnessing an unexpected showdown in the crypto world. On one side stands Larry Fink, co-founder and CEO of BlackRock, the world’s largest...

Steno Research

Comparing Liquidity on Uniswap and Binance

Market depth is a widely used measure of liquidity, commonly calculated across the order books of cryptocurrency pairs on centralized exchanges...

Kaiko

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