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>It’s a truism within the industry that crypto is not an effective tool for crime.</li><li>Yes, it’s possible to send value without an intermediary, but all transactions leave a permanent trace that can become more visible over time as tracking tools improve.</li><li>It’s even possible to track funds that move through Tornado Cash – a protocol built specifically to enhance privacy by obfuscating token flows. </li></ul>

It’s a truism within the industry that crypto is not an effective tool for crime.Yes, it’s possible to send value without an intermediary, but all transactions leave a permanent trace that can become more visible over time as tracking tools improve.It’s even possible to track funds that move through Tornado Cash – a protocol built specifically to enhance privacy by obfuscating token flows. 

Lifting the Veil on Centralized Exchanges

<ul><li>Last quarter I published the first liquidity ranking system for crypto assets, comparing each asset’s liquidity ranking to its market cap and investigating which token’s market cap is the most misleading from a liquidity standpoint.</li><li>Liquidity has arguably never been at more of a premium than right now in crypto, with USD payment rails being shut down and market makers pulling orders from exchanges.</li><li>With market depth at 10 month lows, price volatility has picked up and so it is essential investors can accurately evaluate the liquidity of each individual asset to gain an understanding of how much short term volatility to expect.</li></ul>

Last quarter I published the first liquidity ranking system for crypto assets, comparing each asset’s liquidity ranking to its market cap and investigating which token’s market cap is the most misleading from a liquidity standpoint.Liquidity has arguably never been at more of a premium than right now in crypto, with USD payment rails being shut down and market makers pulling orders from exchanges.With market depth at 10 month lows, price volatility has picked up and so it is essential investors can accurately evaluate the liquidity of each individual asset to gain an understanding of how much short term volatility to expect.

<ul><li>The banking crisis and ongoing regulatory crackdown have upended crypto market structure, leaving an uncertain dynamic among the world’s largest exchanges.</li><li>Over the past two weeks, Binance has lost 16% market share of trade volume following a CFTC lawsuit and the decision to end its zero-fee trading program.</li><li>The exchange remains the largest in the world with 54% dominance. </li></ul>

The banking crisis and ongoing regulatory crackdown have upended crypto market structure, leaving an uncertain dynamic among the world’s largest exchanges.Over the past two weeks, Binance has lost 16% market share of trade volume following a CFTC lawsuit and the decision to end its zero-fee trading program.The exchange remains the largest in the world with 54% dominance. 

<ul><li>Binance is the world’s largest crypto exchange by a huge margin.</li><li>It has achieved consistent growth since its founding in 2017, but its increasing dominance has been striking to watch since 2020, when it held around 25% of spot volume market share.</li><li>Its market share approached 50% at the tail end of the 2021 bull market before retreating and again expanding to peak over 70% this year. </li></ul>

Binance is the world’s largest crypto exchange by a huge margin.It has achieved consistent growth since its founding in 2017, but its increasing dominance has been striking to watch since 2020, when it held around 25% of spot volume market share.Its market share approached 50% at the tail end of the 2021 bull market before retreating and again expanding to peak over 70% this year. 

CFTC V. Binance: The Data Behind the Suit

<ul><li>On March 22, Binance halted its no-fee trading promotion for 13 BTC spot trading pairs, reversing a move that helped boost the exchange’s market share by more than 20% relative to its competitors.</li><li>The exchange also announced that it would be eliminating trading fees for the BTC-TUSD pair, which was mothballed in September and only recently re-listed.</li><li>It is unclear why Binance has chosen to promote its TUSD pair, although it appears the exchange has selected the stablecoin as a successor to BUSD, which is being phased out because of regulatory actions in the U.S. </li></ul>

On March 22, Binance halted its no-fee trading promotion for 13 BTC spot trading pairs, reversing a move that helped boost the exchange’s market share by more than 20% relative to its competitors.The exchange also announced that it would be eliminating trading fees for the BTC-TUSD pair, which was mothballed in September and only recently re-listed.It is unclear why Binance has chosen to promote its TUSD pair, although it appears the exchange has selected the stablecoin as a successor to BUSD, which is being phased out because of regulatory actions in the U.S. 

Binance Volume Plummets After End of Zero-Fee Trading

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)

Lifting the Veil on Centralized Exchanges

It’s a truism within the industry that crypto is not an effective tool for crime. Yes, it’s possible to send value without an intermediary, but all...

Kaiko

Q1 Liquidity Ranking for Crypto Assets

Liquidity has arguably never been at more of a premium than right now in crypto, with USD payment rails being shut down and market makers pulling...

Kaiko

CFTC V. Binance: The Data Behind the Suit

Binance is the world’s largest crypto exchange by a huge margin. It has achieved consistent growth since its founding in 2017, but its increasing...

Kaiko

Binance Volume Plummets After End of Zero-Fee Trading

On March 22, Binance halted its no-fee trading promotion for 13 BTC spot trading pairs, reversing a move that helped boost the exchange’s market...

Kaiko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lifting the Veil on Centralized Exchanges

It’s a truism within the industry that crypto is not an effective tool for crime. Yes, it’s possible to send value without an intermediary, but all...

Kaiko

Q1 Liquidity Ranking for Crypto Assets

Liquidity has arguably never been at more of a premium than right now in crypto, with USD payment rails being shut down and market makers pulling...

Kaiko

Binance Market Share Tumbles 16%

The banking crisis and ongoing regulatory crackdown have upended crypto market structure, leaving an uncertain dynamic among the world’s largest...

Kaiko

CFTC V. Binance: The Data Behind the Suit

Binance is the world’s largest crypto exchange by a huge margin. It has achieved consistent growth since its founding in 2017, but its increasing...

Kaiko

Binance Volume Plummets After End of Zero-Fee Trading

On March 22, Binance halted its no-fee trading promotion for 13 BTC spot trading pairs, reversing a move that helped boost the exchange’s market...

Kaiko