Crypto Research

WHAT IS A MEME? A meme is defined by Webster’s New World College Dictionary as “a concept, belief, or practice conceived as a unit of cultural information that may be passed on from person to person, subject to influences in a way analogous to natural selection.” Memes have always existed but have grown rapidly in popularity due to the internet and social media. Sites such as Twitter and TikTok are...

BACK TO LIFE If you were 100% deployed on January 1st and decided to lock in your returns for the year, frankly, we wouldn’t blame you, especially not after the carnage witnessed last year. However, as we discussed last week, we view this current rally as a sign of more opportunities to come and are excited to help our clients navigate the crypto market in 2023. The choppy, directionless crypto...

For the first time in over a year, we’ve seen mining dominate crypto funding, comprising $625M of this week’s $746M of funding. There were two mining deals, Core Scientific and Blockstream, which received $500M and $125M, respectively. This heavy funding in mining caused total funding this week to skyrocket from last week, increasing nearly 4x from $194M to $746M (one of the most funded weeks in months). Aside from mining,...

Stocks are reacting positively to this morning’s U.S Q4 GDP release, which showed GDP grew 2.9% annualized, beating Dow Jones’ 2.8% estimate. The S&P was up 0.27%, while the Nasdaq gained 0.74%. Although the growth rate slowed compared to Q3, the beat above expectations gives bulls additional ammo in their outlook for a soft landing. Attention now turns to the remaining Q4 earnings releases and next week’s Fed meeting, where...

WHAT ARE EXCHANGE TOKENS? Centralized exchanges are centerpieces in the crypto industry and have garnered some of the highest historical valuations in both private and public markets. Despite their core function in the space, we have seen that they can be highly cyclical, and their performance is most often dependent upon price action. Further, the business model and value proposition have been revealed to be quite simple: provide users with...