Crypto Research
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Figure: Pepe Meditating to Peg the Universe of DeFi Stablecoins FINDING STABILITY FIGURE: MARKET CAPITALIZATION OF PROMINENT STABLECOINSSource: CoinMetrics. io Stablecoins (‘stables’) are cryptocurrencies that aim to peg their prices to another cryptocurrency, fiat money, or commodities. For the stables primer below, we specifically refer to stablecoins pegged to currencies, the most widely adopted of which is the U.S. Dollar. Many stablecoin projects try to maintain the peg to their...
WEEKLY RECAP Outside of a Sunday-night dip, cryptoassets have performed robustly, with bitcoin reclaiming the $40k level and ether reestablishing its perch above $3k. This week, crypto investors ventured further out on the risk curve as DeFi and Web3 sectors outperformed currencies. Interestingly, the privacy sector recorded another green weekly candle, as privacy-focused names including Monero (XMR), Zcash (ZEC), and Decred (DCR) each increased more than 15% over the last...
WEEKLY RECAP It was yet another choppy, risk-off week for crypto, as investor concerns over inflation and the impending Fed response grew. Last week, we discussed how the March FOMC meeting minutes discussed an expeditious plan for rate hikes and a roadmap for quantitative tightening starting as early as May. This clearly reverberated throughout both traditional and crypto markets over the past week. On Tuesday, March CPI figures were released,...
