Category

Crypto

Aug 25
0

Daily Brief Crypto: Comparing Liquidity on Uniswap and Binance and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Comparing Liquidity on Uniswap and Binance

Comparing Liquidity on Uniswap and Binance

By Kaiko

  • Market depth is a widely used measure of liquidity, commonly calculated across the order books of cryptocurrency pairs on centralized exchanges (CEXes).
  • It provides the amount of bids and asks at varying distances from the mid-price, encompassing a range from -0.1% to 10%.
  • This chart shows cumulative ETH-USDT bid and ask volumes at various levels on the ten largest CEXes.

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Aug 22
0

Daily Brief Crypto: Top Trends of The Summer and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Top Trends of The Summer

Top Trends of The Summer

By Kaiko

  • Exceptionally low liquidity, macro factors, and a flurry of bad news were among the drivers of last week’s flash crash, pushing BTC to its lowest level in months and spurring a wave of liquidations across derivative markets. 
  • While BTC 2% market depth has stabilized over the past few months at around 5k BTC, it remains more than 50% below its pre-FTX highs.
  • As BTC prices began falling towards $25k around 8pm UTC on August 17, market depth dropped 50% to just 2k BTC.

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Aug 19
0

Daily Brief Crypto: Where Has the Volatility Gone? and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Where Has the Volatility Gone?

Where Has the Volatility Gone?

By Kaiko

  • This week, news broke that the oldest crypto market maker, GSR, has been scaling back operations – particularly in the U.S. – while a number of top executives have left the company.
  • This is yet another hit to U.S. and global liquidity and volumes; in May, Jump Crypto and Jane Street revealed they were reducing crypto operations.
  • This week, we’ll take a look at the state of the crypto market, including volatility, liquidity, and volumes, and then examine some budding narratives and tokens.

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Aug 15
0

Daily Brief Crypto: Curve 3pool Sees $175m Outflows and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Curve 3pool Sees $175m Outflows

Curve 3pool Sees $175m Outflows

By Kaiko

  • The Curve 3pool – long one of the most important sources of liquidity for DAI, USDC, and USDT – has continued to bleed this summer, shrinking by $175mn.
  • This outflow has been primarily led by USDC; users have withdrawn $125mn of Circle’s stablecoin.
  • By this metric, USDT has remained roughly even while $60mn DAI has been removed, $25mn of which came in just three transactions on July 31.

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Aug 08
0

Daily Brief Crypto: Tether Imbalance on Curve Raises Questions and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Tether Imbalance on Curve Raises Questions

Tether Imbalance on Curve Raises Questions

By Kaiko

  • Curve’s 3pool and Uniswap V3’s main USDT-USDC pool both became imbalanced heading into the weekend as USDT selling escalated.
  • However, this trend actually started in mid-July, with $100mn net selling on Uniswap from July 15 to July 22.
  • While the net selling eased in the last few weeks of July, it picked up again on July 31, the day after the Curve exploit (these two events seem to be unrelated).

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Aug 07
0

Daily Brief Crypto: The Layer 2 War: Arbitrum Vs Optimism and more

By | Crypto, Daily Briefs

In today’s briefing:

  • The Layer 2 War: Arbitrum Vs Optimism

The Layer 2 War: Arbitrum Vs Optimism

By Etherbridge

  • Every crypto market cycle is fuelled by a new coordination structure, business model or alleviant to a constraint of a previous cycle.
  • We see Layer 2 solutions as the next area of innovation and investor attention.
  • In this article, we will explore Layer 2 solutions and attempt to describe their role in the broader crypto economy. 

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Aug 04
0

Daily Brief Crypto: DeFi Options Protocols Series (#4): Bringing Real World Risks On-Chain? and more

By | Crypto, Daily Briefs

In today’s briefing:

  • DeFi Options Protocols Series (#4): Bringing Real World Risks On-Chain?
  • Loans, Buy Walls, and OTC Deals: The Curve Finance Exploit

DeFi Options Protocols Series (#4): Bringing Real World Risks On-Chain?

By Alec Tseung

  • Bringing yields from real-world assets on-chain is one of the major themes for DeFi, given the high interest rate environment.
  • The natural extension to that would be bringing yields from real-world risks on-chain, a space that has not been explored extensively yet. 
  • DeFi options protocols could look to cover these real-world risks as they seek further growth. 

Loans, Buy Walls, and OTC Deals: The Curve Finance Exploit

By Kaiko

  • Curve Finance is back as the center of attention in DeFi just a few weeks after CEO Michael Egorov’s large CRV-backed loans drew scrutiny.
  • This time, however, the inciting incident was an exploit.
  • Rekt and Llama Risk have done a nice job breaking down the technical aspects of the exploit.

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Aug 01
0

Daily Brief Crypto: Analysis: The Impact of Binance’s Zero-Fee Markets and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Analysis: The Impact of Binance’s Zero-Fee Markets

Analysis: The Impact of Binance’s Zero-Fee Markets

By Kaiko

  • About a year ago, right as crypto trade volumes started to slump in the aftermath of the Celsius and Terra collapses, Binance vastly expanded its zero-fee trading promotions to 13 BTC pairs.
  • This practice, though not new, had never been implemented on such a large scale.
  • However, just nine months later the exchange decided to reverse this strategy and adopt a more selective approach.

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Jul 31
0

Daily Brief Crypto: Cosmos IBC Vs Chainlink CCIP and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Cosmos IBC Vs Chainlink CCIP

Cosmos IBC Vs Chainlink CCIP

By Etherbridge

  • In the rapidly evolving world of blockchain technology, one concept that has gained significant attention is interoperability.
  • Interoperability, in its simplest terms, refers to the ability of different systems or platforms to communicate and interact with each other seamlessly.
  • In the context of blockchain, it means the ability of different blockchain networks to exchange information and transactions, thereby enabling them to work together in a cohesive manner.

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Jul 28
0

Daily Brief Crypto: Breaking Down Worldcoin’s Launch and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Breaking Down Worldcoin’s Launch

Breaking Down Worldcoin’s Launch

By Kaiko

  • Worldcoin’s launch was one of the most unique and controversial in recent years.
  • Much of the controversy stems from the understandable skittishness with Worldcoin’s goal (creating a global identity network) and sci-fi-like methods of achieving this goal (eye scans).
  • This has been nicely summarized by the MIT Technology Review. 

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