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>Ethereum has surged past the 3,000 ETH/USD mark, now trading at 3,050 ETH/USD.</li><li>This increase is mainly driven by the intensifying anticipation over the potential launch of an Ethereum spot ETF, along with Ethereum’s recent breakout from a months-long period of underperformance compared to Bitcoin.</li><li>Over the last week, Ethereum has seen an 8% increase relative to Bitcoin, with the latter seeing less net inflow into exchange-traded products than the week prior.</li></ul>

Ethereum has surged past the 3,000 ETH/USD mark, now trading at 3,050 ETH/USD.This increase is mainly driven by the intensifying anticipation over the potential launch of an Ethereum spot ETF, along with Ethereum’s recent breakout from a months-long period of underperformance compared to Bitcoin.Over the last week, Ethereum has seen an 8% increase relative to Bitcoin, with the latter seeing less net inflow into exchange-traded products than the week prior.

<ul><li>In the short to medium term, Ethereum is mainly depending on what is known as off-chain scaling to significantly expand its blockchain’s capacity beyond its current limit of roughly 15 transactions per second.</li><li>This strategy sets Ethereum apart from other blockchains like Solana, which primarily concentrate on scaling directly on the blockchain itself, also known as on-chain scaling.</li><li>Ethereum’s method involves using something called Layer 2s, or rollups.</li></ul>

In the short to medium term, Ethereum is mainly depending on what is known as off-chain scaling to significantly expand its blockchain’s capacity beyond its current limit of roughly 15 transactions per second.This strategy sets Ethereum apart from other blockchains like Solana, which primarily concentrate on scaling directly on the blockchain itself, also known as on-chain scaling.Ethereum’s method involves using something called Layer 2s, or rollups.

Crypto Moves #16 – Why We Are Long Ethereum Layer 2s

<ul><li>It has been just over a month since the first Bitcoin spot ETFs hit the market on January 11th.</li><li>The initial weeks saw a slow start in terms of net inflow into these ETFs, mainly because investments into the two Bitcoin ETF titans from BlackRock’s iShares and Fidelity were lower than expected.</li><li>This situation was made worse by the significant outflow from Grayscale’s Bitcoin Trust ETF.</li></ul>

It has been just over a month since the first Bitcoin spot ETFs hit the market on January 11th.The initial weeks saw a slow start in terms of net inflow into these ETFs, mainly because investments into the two Bitcoin ETF titans from BlackRock’s iShares and Fidelity were lower than expected.This situation was made worse by the significant outflow from Grayscale’s Bitcoin Trust ETF.

Crypto Moves #15 – 90% Likelihood of an Ethereum Spot ETF Approval This Year

Podcast with Crypto Gigabrains, The Delphi Podcast

The Delphi Podcast

Podcast with Crypto Gigabrains

Conversations with Crypto Gigabrains. Hosted by Tommy, Co-Founder and Founding Partner at Delphi Ventures

<ul><li>High frequency trading (HFT) involves building systems that can react in real time to incoming packets from exchanges, making fast decisions about sending orders and quickly executing them.</li><li>Working on HFT systems requires a focus on performance and often involves building systems from scratch. </li><li>HFT systems need to be scalable to handle trading multiple instruments and flexible enough to adapt to different market conditions. Models used in trading also need to be continuously retrained and optimized for speed without sacrificing accuracy.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

High frequency trading (HFT) involves building systems that can react in real time to incoming packets from exchanges, making fast decisions about sending orders and quickly executing them.Working on HFT systems requires a focus on performance and often involves building systems from scratch. HFT systems need to be scalable to handle trading multiple instruments and flexible enough to adapt to different market conditions. Models used in trading also need to be continuously retrained and optimized for speed without sacrificing accuracy.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Keone Hon of Monad: 10,000 TPS & Full EVM Equivalence - A New Era for Ethereum Apps

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

Rose Choy

<ul>
<li>As the crypto lending market recovers from the shock of large defaults in the sector, the markets are now focused on institutional lending where capital efficiency and liquidity are key. </li>
<li>Overcollateralized lending has been stagnant although holding ground, but its low utilization, low interest rates and wide bid ask are not appealing to most lenders and borrowers.</li>
<li>The market preference is switching to non-collateralized lending where a mix of Cefi and Defi characteristics may evolve to provide the winning combination.</li>
</ul>


As the crypto lending market recovers from the shock of large defaults in the sector, the markets are now focused on institutional lending where capital efficiency and liquidity are key. 
Overcollateralized lending has been stagnant although holding ground, but its low utilization, low interest rates and wide bid ask are not appealing to most lenders and borrowers.
The market preference is switching to non-collateralized lending where a mix of Cefi and Defi characteristics may evolve to provide the winning combination.


Crypto Lending Series (#2) Clearpool - A Bright Spot Emerging from the Rubble

United States

Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

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Ethereum (XETUSD CURNCY)

Crypto Crisp: Finally, Uniswap

Ethereum has surged past the 3,000 ETH/USD mark, now trading at 3,050 ETH/USD. This increase is mainly driven by the intensifying anticipation...

Steno Research

Crypto Moves #16 – Why We Are Long Ethereum Layer 2s

In the short to medium term, Ethereum is mainly depending on what is known as off-chain scaling to significantly expand its blockchain’s capacity...

Steno Research

Crypto Moves #15 – 90% Likelihood of an Ethereum Spot ETF Approval This Year

It has been just over a month since the first Bitcoin spot ETFs hit the market on January 11th. The initial weeks saw a slow start in terms of net...

Steno Research

Keone Hon of Monad: 10,000 TPS & Full EVM Equivalence - A New Era for Ethereum Apps

The speaker worked at Jump Trading for seven and a half years, leading a trading team and working as a quant using machine learning, before joining...

The Delphi Podcast

Crypto Lending Series (#2) Clearpool - A Bright Spot Emerging from the Rubble

The crypto lending market is now focused on institutional lending after some high profile failures earlier. The preference now is for...

Rose Choy

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