Crypto Research
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Despite the US Dollar and US Treasury yields declining, US equity indices continue their slide this week, with the ^SPX 1.81% and QQQ 3.41% down 0.12% and 0.47%, respectively. Crypto markets are also negative today as BTC (-1.56%) continues to trade in the upper 16,000s and ETH -0.32% (-3.27%) in the mid 1,200s. Alt layer-1 tokens are taking a larger hit today, with ATOM 13.23% , FTM, and SOL 4.24% down -5.57%, -6.01%, and -4.69%, respectively....
Crypto markets remain choppy this morning. BTC is up 0.30% and ETH -0.32% is down 0.26%. Traditional markets are down - SPX has fallen 0.75%, and NDQ has fallen 1.24%. Sushiswap (SUSHI) has been particularly volatile and is down 7.39%. Sushi is reaching its maximum token supply, meaning there are fewer incentives for Sushiswap to give to protocol users. Because of this, CEO Jared Grey has called for 100% of the protocol's...
FIGURE: QUANT PEPES TAKING TURNS PREACHING DECENTRALIZED OPTIONS INTRODUCTION AND OPPORTUNITY Options are one of the most popular derivatives in traditional markets among institutional and retail investors. Due to their versatility, traders use options to hedge existing positions, speculate on a security's directional moves, or generate income. In 2021 alone, 33.3b options contracts were traded, up 35% from 2020. Much of this growth can be attributed to retail traders, who...
Risk assets slid this morning on the release of positive economic data, heightening the probability of continued tightening from the Fed. The November ISM reading came in at 56.5%, much hotter than the expected 53.7%, indicating persistent economic activity. Yields are higher across the board, with the US 10Y rising 2.6% thus far on the day. The DXY has inched 0.6% higher while the VIX is up 6.8%. The QQQ 3.41% ...
ADJUSTING TO A POST-FTX WORLD A couple of weeks ago, we discussed several critical risk vectors remaining in the market and provided our take on each matter. Our near-term view was that it was more likely than not that most of the contagion from the implosion of FTX had been sifted through, but due to the unknown status of Digital Currency Group, investors might not be getting paid enough for...
The Bureau of Labor Statistics' (BLS) November employment report points to a hotter-than-expected labor market, inciting fears of higher rates for longer in markets. Non-farm payroll employment increased by 263k (vs 200k consensus), while the unemployment rate remained at 3.7%. Traditional markets reacted negatively to the news, with ^SPX 1.81% (-0.5%) and QQQ 3.41% (-1.0%) opening lower before rebounding 4,055 and 291, respectively. Crypto markets were equally affected, with BTC (-0.3%) and...
In anticipation of Fed Chair Powellâs speech today at 1:30 pm EST, traditional markets are relatively muted. The S&P 500 is trading just under $3,950 (-0.30%), and the Nasdaq 100 is trading around $11,500 (+0.08%). Investors will be paying attention to Powellâs speech for insight into how high interest rates will need to rise. In contrast, crypto markets are rallying today, with BTC and ETH -0.32% rising 2.12% and 4.13%, respectively,...
Crypto markets rallied today, recovering from yesterday's pullback - BTC is up 1.08%, and ETH -0.32% is up 3.49%. Interestingly, this rally came during Asian market hours (the same time the sell-off occurred yesterday in crypto assets and Asian equities). Markets appear to be moving higher on hopes that the public unrest in China couldlead to a loosening of Beijing's zero-COVID-19 restrictions. SPX and NDQ are down 0.23% and 0.12%, respectively,...
