Crypto Research

Venture capital firms took a shotgun approach to investing this week, raising just over $1 billion in total for investments across the crypto space, focusing heavily on NFTs, Infrastructure, and Centralized Finance (CeFi) projects. NFT projects raised $240 million, infrastructure saw $239 million, CeFi raked in $324 million, and DeFi and Metaverse raised $33 million and $45 million, respectively. Acquisition activity was also high, with OpenSea and BitMEX eyeing other...

Macro continues to dominate the crypto discourse as the 90-day rolling correlation between BTC and the BVP Emerging Cloud Index approaches 1.We discuss our thoughts pertaining to where Bitcoin sits on investors’ risk curves, how it will move to a lower risk bucket in 2022, and why this would be a major tailwind for the asset.SOPR gives us a view into the profile of recent sellers. Meanwhile, long-term holders continue...

This week’s venture capital was heavily weighted towards infrastructure projects, with some dabbling into NFTs, Gaming, DAOs, and DeFi. Crypto infrastructure projects raised over $1.3 billion, with interoperability and usability as the biggest attractions in the space. Token sales were effective fundraising instruments this week, raising $85 million for 3 protocols. Signs point to a massive influx of capital in future Funding Fridays, as 3 new funds raised $7.9 billion...

On Wednesday, the global crypto market experienced some partial relief as the Labor Department released a December CPI figure that met analyst expectations. Consumer prices increased 7.0% over the prior 12 months, up 0.5% from last month.Funding rates in the perpetual futures market turned negative leading up to the CPI print, reducing the near-term risk of a long squeeze.Open interest continues to climb, as we are now well beyond the...