Category

Crypto

May 19
0

Daily Brief Crypto: Stablecoins: Does Trust Really Matter? and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Stablecoins: Does Trust Really Matter?

Stablecoins: Does Trust Really Matter?

By Kaiko

  • The stablecoin market has been upended in 2023.
  • The start of the year saw BUSD given an expiry date of 2024, a banking crisis in March hit USDC and DAI hard, while Binance anointed TUSD as its stablecoin of choice by choosing it for one of the few zero-fee BTC pairs in crypto.
  • All of these events had huge ramifications for stablecoin market structure.

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May 16
0

Daily Brief Crypto: Market Makers Continue to Reduce Liquidity and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Market Makers Continue to Reduce Liquidity

Market Makers Continue to Reduce Liquidity

By Kaiko

  • Last week, some of the biggest market makers in crypto, Jane Street and Jump Crypto, announced they were winding down some of their crypto exposure, particularly in the U.S due to regulatory uncertainty.
  • This move should have major implications for liquidity in the industry which has already lost several big players over the last year.
  • Interestingly, market depth for BTC has barely shifted since the announcement or over the past month, remaining at depressed levels.

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May 12
0

Daily Brief Crypto: TriCrypto: Curve’s Ace in the Hole and more

By | Crypto, Daily Briefs

In today’s briefing:

  • TriCrypto: Curve’s Ace in the Hole

TriCrypto: Curve’s Ace in the Hole

By Kaiko

  • Curve recently made waves with the release of crvUSD, its new stablecoin.
  • However, another under-the-radar development at Curve could cause an even more significant shift in the DeFi landscape: a new TriCrypto pool [1].
  • This pool contains three high-volume Ethereum assets—ETH, USDT, and wBTC—and could potentially challenge Uniswap’s market share

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May 10
0

Daily Brief Crypto: Binance Halts Withdrawals as BTC Fees Surge and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Binance Halts Withdrawals as BTC Fees Surge

Binance Halts Withdrawals as BTC Fees Surge

By Kaiko

  • The rise in popularity of BRC-20 tokens, essentially memecoins on the Bitcoin blockchain, has pushed Bitcoin fees to 2 year highs.
  • BRC-20s have massively increased demand for Bitcoin blockspace for the first time in recent history, with the network suffering from congestion and unconfirmed transactions as a result.
  • Over the weekend, Binance had to pause BTC withdrawals twice as they hadn’t accounted for a surge in BTC fees in the amount they pay miners, which had caused many transactions to go unconfirmed.

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May 05
0

Daily Brief Crypto: The State of Crypto Derivatives and more

By | Crypto, Daily Briefs

In today’s briefing:

  • The State of Crypto Derivatives

The State of Crypto Derivatives

By Kaiko

  • Derivatives markets in crypto are not only where the most speculation occurs, but also where many sophisticated investors place their bets, hedged or conviction-based.
  • The directionality of these bets: long/shorts or puts/calls can give us great insight into investor sentiment in crypto markets particularly before and after big market events, such as a Fed meeting or the Merge.
  • In this article, I’ll walk through the state of derivative markets in crypto right now, looking closely at Bitcoin and Ethereum first, before exploring some altcoins that are getting attention in futures markets, and finally looking at the exchange landscape in the derivatives market.

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May 03
0

Daily Brief Crypto: Crypto Lending Series #4: The Waste Land of Lending and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Crypto Lending Series #4: The Waste Land of Lending
  • GOALS Raise $20m & Karate Combat Raise $18m, Series A Rounds
  • TUSD Depegs Amidst Heavy Borrowing

Crypto Lending Series #4: The Waste Land of Lending

By Rose Choy

  • In the latest inning of the crypto credit crisis, real world banks like Silvergate was shuttered making the on-and-off ramp of crypto to fiat more challenging.
  • Crypto lenders have already been decimated in the centralised lending space while DeFi lenders seem to trudge along – but are they the bastions of success? 
  • We analyse what the current landscape means for the crypto lending industry and have a regrettable conclusion.

GOALS Raise $20m & Karate Combat Raise $18m, Series A Rounds

By Sporting Crypto

  • My prediction is the news cycle in crypto heats up over the next 6 months as bigger and bigger brands start experimenting or building solid propositions using this nascent technology.

  • Almost every startup in the space I’ve spoken to over the last 6-9 months is looking to raise capital.

  • And even though deal count as a metric has stabilised and actually seen an increase in Q2 2023, numbers still aren’t as strong.

TUSD Depegs Amidst Heavy Borrowing

By Kaiko

  • TUSD depegged on a number of exchanges yesterday, hitting a high of $1.20 relative to USDT on Binance.
  • Binance has recently been promoting TUSD, making BTC-TUSD the only zero-fee pair on the exchange.
  • This quickly made Binance BTC-TUSD one of the highest-volume pairs in all of crypto despite TUSD being relatively unknown amongst stablecoins.

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Apr 28
0

Daily Brief Crypto: Leveraging LSDs: The Next Era of Lending and Borrowing and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Leveraging LSDs: The Next Era of Lending and Borrowing

Leveraging LSDs: The Next Era of Lending and Borrowing

By Kaiko

  • The best design often goes unnoticed. DeFi lending and borrowing stalwarts Aave and Compound have proven themselves to be great design: critical for day-to-day functioning but largely taken for granted.
  • This becomes apparent when a competitor experiences an exploit, highlighting the reliability of Aave and Compound
  • When last we checked in on these protocols in December they were in a period of change.

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Apr 25
0

Daily Brief Crypto: Coinbase Targets Offshore Amid Falling Volumes and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Coinbase Targets Offshore Amid Falling Volumes

Coinbase Targets Offshore Amid Falling Volumes

By Kaiko

  • Last week, Coinbase received approval to operate an offshore derivatives exchange, based in Bermuda.
  • This move makes a lot of sense, particularly when looking at Coinbase’s share of total spot volumes.
  • Since the start of 2022, Coinbase’s share of volumes has almost halved, falling from 10% to 5% while Binance gained as much as 30% market share over the same time period, before losing some in the last couple of weeks with their reintroduction of fees.

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Apr 21
0

Daily Brief Crypto: The Binance Effect and more

By | Crypto, Daily Briefs

In today’s briefing:

  • The Binance Effect

The Binance Effect

By Kaiko

  • The events of the last few months, namely the relentless regulatory enforcement and the banking crisis have upended crypto exchange market structure.
  • During a bear market, consolidation among exchanges is expected.
  • However, as the SEC targets specific exchanges and leave some cutoff from USD payment rails, many exchanges have been left at a competitive disadvantage.

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Apr 18
0

Daily Brief Crypto: ETH’s Big Post-Shapella Rally and more

By | Crypto, Daily Briefs

In today’s briefing:

  • ETH’s Big Post-Shapella Rally

ETH’s Big Post-Shapella Rally

By Kaiko

  • Last week, the Shapella upgrade went live without a hitch, enabling millions of staked ETH to be withdrawn.
  • While Ethereum’s Merge upgrade last September was more of a “buy the rumor sell the news” type of event, Shapella appears to have had the opposite impact on price.
  • ETH spot prices dropped by nearly 18% post-Merge while they are up 11% since Shapella, despite fears of mass selling. 

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