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 markets have been weighed down recently by bouts of forced selling by institutions looking to quickly liquidate their holdings</li><li>When someone becomes a forced seller, they can’t afford to sit on their hands and wait for the ideal day to trade</li><li>Often it’s on very short notice and they are looking to get any liquid return for their holdings</li></ul>

Crypto markets have been weighed down recently by bouts of forced selling by institutions looking to quickly liquidate their holdingsWhen someone becomes a forced seller, they can’t afford to sit on their hands and wait for the ideal day to tradeOften it’s on very short notice and they are looking to get any liquid return for their holdings

<ul><li>Trend of the Week: Tether’s market cap has plummeted amid a reportedly sharp increase in bearish bets.</li><li>Price Movements: BTC dipped below $20k while ETH held steady above $1k as credit contagion continued to roil markets.</li><li>Market Liquidity: Binance.US processed a record number of transactions after eliminating BTC trading fees.</li></ul>

Trend of the Week: Tether’s market cap has plummeted amid a reportedly sharp increase in bearish bets.Price Movements: BTC dipped below $20k while ETH held steady above $1k as credit contagion continued to roil markets.Market Liquidity: Binance.US processed a record number of transactions after eliminating BTC trading fees.

BTC Drops Below $20k as Credit Contagion Spreads

China and US Equity Analyst

Roger Xie

Cross Asset Strategy

<ul>
<li>Stablecoin <a href="https://www.smartkarma.com/entities/terrausd" target="_blank" data-smartkarma-citation="entities:35209:1" rel="noopener">TerraUSD (UST CURNCY)</a> has de-pegged from USD; the implosion put pressure on <a href="https://www.smartkarma.com/entities/tether" target="_blank" data-smartkarma-citation="entities:35208:1" rel="noopener">Tether (USDT CURNCY).</a> This resembled the confidence crises that precede bank runs.</li>
<li>The incident happened under macro headwind such as tech stock sell-off, rising benchmark interest rates and TerraUSD specific algorithm design. </li>
<li>The bigger worry of de-pegging has investors to re-assess the reserve behind stablecoin in the crypto ecosystem; we expect the ripple impact will continue for some time before settling down.</li>
</ul>


Stablecoin TerraUSD (UST CURNCY) has de-pegged from USD; the implosion put pressure on Tether (USDT CURNCY). This resembled the confidence crises that precede bank runs.
The incident happened under macro headwind such as tech stock sell-off, rising benchmark interest rates and TerraUSD specific algorithm design. 
The bigger worry of de-pegging has investors to re-assess the reserve behind stablecoin in the crypto ecosystem; we expect the ripple impact will continue for some time before settling down.


Crypto: Perfect Storm on Stablecoin Infrastructure

Crypto Fundamental Investor/Analyst

Josh Du

NASDEX Ltd

We believe that the tokenization of all asset classes, including stocks, is inevitable as the world further increases adoption of crypto and blockchain technology.

NASDEX is designed to serve as a bridge between the crypto world and the equity world. We believe that the onchain adoption of the equity asset class will deliver increased accessibility with improved capabilities for both crypto and equity investors

<ul>
<li>Stablecoins are the critical $170 billion dollar sector that is the key building block for the entire $2 trillion dollar crypto asset class with increasing attention from regulators</li>
<li>In part 1, we explore some real world case studies on problems that stablecoins solved for crypto such as stability of payments to vendors, and the enabling of lending</li>
<li>We also present a (almost) risk-free arb where traders pay 1.5% to borrow USD and receive 9% on stablecoin dollars </li>
</ul>


Stablecoins are the critical $170 billion dollar sector that is the key building block for the entire $2 trillion dollar crypto asset class with increasing attention from regulators
In part 1, we explore some real world case studies on problems that stablecoins solved for crypto such as stability of payments to vendors, and the enabling of lending
We also present a (almost) risk-free arb where traders pay 1.5% to borrow USD and receive 9% on stablecoin dollars 


Stablecoin Part 1 - The Game Changing Tech in Crypto and a Real World Arb Trade

<ul>
<li>HKMA released a discussion paper on the regulation of stablecoins in Hong Kong which seems to suggest a divergence in regulatory approach towards crypto from China's current stance</li>
<li>China has historically allowed banned activities from the mainland to operate in a controlled environment such as gaming in Macau</li>
<li>We explore the potential that HK is the perfect firewalled environment where crypto could be allowed to develop without contagion for the rest of China</li>
</ul>


HKMA released a discussion paper on the regulation of stablecoins in Hong Kong which seems to suggest a divergence in regulatory approach towards crypto from China's current stance
China has historically allowed banned activities from the mainland to operate in a controlled environment such as gaming in Macau
We explore the potential that HK is the perfect firewalled environment where crypto could be allowed to develop without contagion for the rest of China


Crypto Weekly: Will Hong Kong Be the Macau of Crypto?

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Tether (USDT CURNCY)

How to Liquidate Large Bitcoin Holdings

Crypto markets have been weighed down recently by bouts of forced selling by institutions looking to quickly liquidate their holdings

Kaiko

BTC Drops Below $20k as Credit Contagion Spreads

Trend of the Week: Tether’s market cap has plummeted amid a reportedly sharp increase in bearish bets. Price Movements: BTC dipped below $20k while...

Kaiko

Crypto: Perfect Storm on Stablecoin Infrastructure

The bigger worry of TerraUSD de-pegging has investors to re-assess the reserve behind stablecoin in the crypto ecosystem; we expect the ripple...

Roger Xie

Stablecoin Part 1 - The Game Changing Tech in Crypto and a Real World Arb Trade

Introduction piece to a deep dive series on the USD170 bn mkt cap stablecoins which are systematically important for crypto and is increasingly...

Josh Du

Crypto Weekly: Will Hong Kong Be the Macau of Crypto?

Based on the latest HKMA crypto regulation paper, we explore the potential that HK is the perfect firewalled environment where crypto may be...

Josh Du

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