Category

Crypto

Sep 20
0

Daily Brief Crypto: Post-Merge Market Mayhem and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Post-Merge Market Mayhem

Post-Merge Market Mayhem

By Kaiko

  • Price Movements: ETH is down 25% on the week despite the successful completion of the Merge.
  • Market Liquidity: The U.S. dollar remains the dominant fiat currency in crypto, possessing 70% of total fiat trade volume.
  • Derivatives: ETH funding rates have returned to neutral after dipping to all time lows of less than -0.4%. 

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Sep 17
0

Daily Brief Crypto: Updates on Centralized Stablecoins: Reserve Assets and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Updates on Centralized Stablecoins: Reserve Assets, Transparency, and Regulatory Recognition

Updates on Centralized Stablecoins: Reserve Assets, Transparency, and Regulatory Recognition

By Edward Wu

  • Benefiting from safer reserve assets and lower regulatory risk, Circle’s USDC is quickly eating into Tether’s USDT market share in recent months
  • USDT is highly used in the crypto on-off-ramp and as a quote currency in trading pairs, while a large share of USDC is locked into Defi protocols
  • BUSD is in its own niche to serve Binance’s ecosystem. The recent move of Binance to only keep BUSD & USDT in its exchange will have a profound impact

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Sep 16
0

Daily Brief Crypto: Merge Chart Jamboree and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Merge Chart Jamboree

Merge Chart Jamboree

By Kaiko

  • By now, you probably already know the basics of the Merge, so let’s dive into how markets reacted, both in the run-up and in the immediate aftermath.
  • We will explore pre- and post-Merge markets, looking closely at derivatives, spot markets, liquidity, staked ETH, and proof-of-work alternatives to ETH.
  • Derivatives markets dominated ETH market activity in the month preceding the Merge, with the derivatives to spot volume ratio surging at the fastest rate ever observed. 

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Sep 14
0

Daily Brief Crypto: Access Private Credit Market Through Defi with a Better and Stable Yield and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Access Private Credit Market Through Defi with a Better and Stable Yield
  • The Ethereum Merge: Past, Present and Future

Access Private Credit Market Through Defi with a Better and Stable Yield

By Edward Wu

  • Stablecoins borrowing demand, and thus the lending yield is strongly correlated with crypto market performance. Stablecoins yields are now less than U.S. 1-year Treasury rate.
  • Newer Defi lending protocols channel stablecoins liquidity to institutions, businesses, and consumers outside the crypto industry. They provide a more stable yield that is not dependent on crypto market performance.
  • While these protocols present yield opportunities for stablecoins, their protocol tokens are not ideal targets for investment.

The Ethereum Merge: Past, Present and Future

By Ocular

  • The much anticipated Ethereum Merge is upon us – on September 15 UTC, Ethereum mainnet will be merging with the proof-of-stake consensus layer, the Beacon Chain.
  • The Beacon Chain was created on December 1, 2020, and has since existed as a separate blockchain to Mainnet, running in parallel.
  • This will be one of the most significant upgrades in Ethereum’s history, and took years of research and development.

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Sep 13
0

Daily Brief Crypto: It’s Merge Week and more

By | Crypto, Daily Briefs

In today’s briefing:

  • It’s Merge Week
  • Sporting Crypto – September 12th 2022: NBA Sign Multiyear Sorare Deal

It’s Merge Week

By Kaiko

  • Price Movements: Markets experienced a strong rebound dominated by ETH, which closed the week up 12%. 
  • Market Liquidity: USDC, TUSD, and USDP accounted for just 3% of total stablecoin volume on Binance before the exchange announced plans to de-list pairs and auto-convert deposits to BUSD.
  • Derivatives: Open interest for Ethereum Classic (ETC) recently hit all time highs as miners shift computational resources to the hard-forked PoW Ethereum chain.

Sporting Crypto – September 12th 2022: NBA Sign Multiyear Sorare Deal

By Sporting Crypto

  • The NBA, and NBPA (National Basketball Player’s Association) have signed a multi year deal with Sorare, to create the basketball league’s first NFT fantasy game.
  • Before we talk about the NBA’s ventures into Web3, let’s remind ourselves of just how well Sorare have done over the past three years.
  • Sorare, who started as an NFT Soccer fantasy game, have raised incredible sums of money including a $50m Series A which broke french tech records, followed by a $680m Series B raise led by none other than Softbank.

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Sep 07
0

Daily Brief Crypto: #35 Who cares about The Merge? and more

By | Crypto, Daily Briefs

In today’s briefing:

  • #35 Who cares about The Merge?

#35 Who cares about The Merge?

By Carbono Insights

  • The current context is messy. Prices of BTC and ETH slumped twice this year (following the Terra and the Celsius/3AC crises) and show no symptoms of long-lasting recovery (yet).
  • Trading volume on top NFT marketplace OpenSea down 99% in USD from May peak, and DeFi is going through an identity crisis after the Tornado Cash case (more on this later), the most notable example of the increasing regulatory pressure coming from a dozen angles.
  • And all of this within a backdrop of global financial crisis and stagnation. Suppose you’re not heavily invested in crypto, financially or intellectually.

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Sep 06
0

Daily Brief Crypto: ETH Open Interest Retraces From All Time Highs and more

By | Crypto, Daily Briefs

In today’s briefing:

  • ETH Open Interest Retraces From All Time Highs

ETH Open Interest Retraces From All Time Highs

By Kaiko

  • Price Movements: Historically, crypto assets have performed worse than equities during the September market slump.
  • Market Liquidity: Market share of volume for Binance’s BUSD stablecoin hit all time highs. 
  • Derivatives: Ether options reveal investor apprehension ahead of the Merge but bullish sentiment prevails post-Merge.

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Sep 04
0

Daily Brief Crypto: Capturing Opportunities in the Emerging PoS Staking Industry and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Capturing Opportunities in the Emerging PoS Staking Industry

Capturing Opportunities in the Emerging PoS Staking Industry

By Edward Wu

  • Proof-Of-Stake blockchain staking already generates over $5 billion worth of revenue annually; professional node operators and liquid staking providers emerge as new forms of businesses to capture the lucrative return.
  • While this emerging industry provides opportunities to professional node operators, they are not the right choice for investment due to the nature of their business model.
  • Investment opportunities exist in liquid staking protocols as they could build distinct competitive advantages.

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Sep 03
0

Daily Brief Crypto: Sell MKR Token- DAO Governance Wars and Centralization Means MKR Token Will Go Nowhere and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Sell MKR Token- DAO Governance Wars and Centralization Means MKR Token Will Go Nowhere

Sell MKR Token- DAO Governance Wars and Centralization Means MKR Token Will Go Nowhere

By Rose Choy

  • Decentralized organizations are still struggling to find the “right” way to govern themselves and there are well-known tradeoffs between decentralization and efficiency.
  • MKR tokens (governance tokens of MakerDAO) suffer from lack of alignment of incentives for tokenholders and protocol governance which is evident in the token price performance.
  • The trade is to sell or short the token as we do not see any benefits to tokenholders if incentives are not aligned and decision making continues to be inefficient.

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Sep 02
0

Daily Brief Crypto: Derivatives Dominate ETH Markets Ahead of Merge and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Derivatives Dominate ETH Markets Ahead of Merge

Derivatives Dominate ETH Markets Ahead of Merge

By Kaiko

  • The perpetual futures market serves as the battleground for institutions, risk-hedgers and speculators alike.
  • In the bull run of 2021, perpetual futures acted as one of the main catalysts for all time highs as new money piled into the market with excessive leverage.
  • Flash forward to September 2022 and we’re seeing this new money return to perpetual futures markets more ferociously than ever, specifically for ETH, with open interest recently breaking all time highs, ahead of one of the biggest idiosyncratic catalysts crypto has seen in some time, the Ethereum Merge. 

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