Crypto Research

THE BLOODBATH The bloodbath that has persisted for the better part of the past seven months continued this weekend, with the market shedding an additional $200 billion in total market cap, falling below the $1 trillion mark for the first time since late 2020. Yesterday was the single biggest decline for bitcoin (-16%) since March 2020. At the time of writing (early morning hours of June 14th), there have been...

Venture funding slid lower this week, with the lowest weekly amount of money raised all year. There were 28 deals, raising a total of $410M. Despite general VC funding weakness, CeFi funding has been resilient and had made up roughly ~60% of funding for the week at $235M, an increase from last week's CeFi financing of $190M. DeFi came in second for the most funding and rose from $10M to...

MERGE UPDATE If you recall, several potential catalysts for this year were highlighted during our 2022 preview. A major one was the proposed transition of Ethereum from its current Proof-of-Work (PoW) to a Proof-of-Stake (PoS) architecture through a process colloquially termed the “Merge.” This is a catalyst that we felt the market was heavily discounting due to Ethereum developers’ track record of delays (Some thought this would take place five...