Crypto Research
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BTC remained above $43k in morning trading, holding a 0.5% increase over the last day. LINK -0.51% surged to a 22-month peak, surpassing $18 and recording a nearly 30% gain over the week, outperforming most large-cap cryptos. This surge is indicative of a bullish departure from its previous three-month trading range of $13 to $17, continuing its recovery from lows near $5 in June 2023. AI-related crypto tokens surged following Meta's...
QRA IN LINE WITH MARKET EXPECTATIONS _THE RESULTS_ The Treasury’s quarterly refunding announcement (QRA) was the first of two major macro events to transpire on Wednesday. Leading up to this, on Monday, there was an indication that the net borrowing for the current quarter would be $760 billion, which is $55 billion lower than the initial $815 billion estimate, and the total funding needs for Q2 would be just over...
Crypto markets are mixed as BTC climbs 0.4% higher to reach $43.6k, while the aggregate crypto market cap is lower. ETH is underperforming, falling 1.3% to $2.3k. As we close the month, the top performers among the top 100 over the last 30 days have been new L1 SUI 0.56% (+95%), AI-focused network TAO (+68.6%), and gaming token RON (+21.4%). In the same period, BTC has gained ~3% from its yearly...
WHAT IS PEAPODS FINANCE? Peapods is a decentralized, permissionless, and trustless on-chain index investing and volatility farming protocol. Peapods permits the creation of fully customizable index tokens called “pods” which can be created with any ERC20 token and enables users to capitalize on the inexhaustible volatility of crypto markets, unlocking yield opportunities for any liquid asset. PROTOCOL DYNAMICS Part of our Peapods investment thesis is predicated on their protocol design,...
U.S. equities are showing moderate declines after JOLTS surprised to the upside with 9.03 million job openings vs. 8.75 million expected. The SPY and QQQ have declined by 0.14% and 0.63%, respectively. All eyes will be on tomorrowâs FOMC meeting and QRA announcement, which should give near-term direction to rates and the DXY. Crypto markets are showing strength, with BTC rising 0.36% to $43.5k and ETH gaining 2.46% to exceed...
This week is shaping up to be a significant one on the macro front, with the JOLTS report on Tuesday, the FOMC meeting and Treasury Quarterly Refunding Announcement (QRA) on Wednesday, PMIs on Thursday, and jobs data on Friday. Despite a downward trend in rates today, possibly hinting at the Fed's tone this week, DXY is climbing, largely due to a weakening Euro. In the equities market, major indices are...
WEEKLY RECAP Total funding fell 29% week-over-week from $221 million to $158 million, while deal count rose about 14% from 22 to 25. This week marks the third consecutive week with triple-digit total funding and over 20 deals, potentially signaling increasing appetite in the private market. Infrastructure and CeFi were the leading categories, raising $76 million and $50 million, respectively. CeFi deals struggled in 2023 but have been a strong...