Crypto Research
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The crypto market commenced 2024 on a high note. BTC spearheaded the rally, climbing from just above $42k to nearly $46k, setting a new peak in the ongoing bull market. Despite a slight retracement, Bitcoin's price remains over $45k. ETH -1.53% , while not matching Bitcoin's pace, has still made considerable bullish strides, now trading around $2,350 after briefly nearing $2,400. ETH's Layer 2 solution, ARB 0.18% , is undergoing consolidation following its ascent...
WEEKLY RECAP After multiple weeks of total funding near $300 million, things have cooled slightly, with this week’s total falling to $155 million across 19 deals. Metaverse & Gaming was the leading category due to a $100 million fundraise by MapleStory Universe, our Deal of the Week. Infrastructure was the most popular category from a deal count perspective, tallying eight deals totaling $14 million. Seed rounds were the most common...
Risk assets received another shot in the arm today, with core PCE data registering at just 0.06%, well below the 0.20% consensus estimate. This has led to a continuation of the downward trend in the DXY. Both the SPX and QQQ are up on the day, and gold is edging closer to new YTD highs. In crypto markets, there's been a significant rotation into ETH L2s this morning, especially OP...
In this week's Crypto Comments video, we discuss positive flows data, the influx of capital into Base, and the strong performance of Stacks and Solana, presenting an optimistic picture going into 2024. Click HERE our full Crypto Strategy note. https://vimeo. com/897066430/7b96462bd7? share=copy
LET IT FLOW As we approach the holiday weekend and the final week of the year, which is typically marked by lower liquidity due to many stepping away from their desks, one might expect to see a dialing back of risk and a slowdown in trading volumes. However, contrary to these expectations, most data suggest animal spirits seem poised for a rally through the New Year. CME futures data, the...
3AC Creditors May Receive 46% Recovery Rate, PancakeSwap Proposes 40% Supply Reduction
U.S. equity indices are rising today after yesterdayâs late afternoon sell-off. The SPY and QQQ are both up over 0.70% following the Q3 GDP report showing 4.9% growth vs. 5.2% expected, moving the probability of a rate cut in March to 72.7%. Crypto markets are mixed, with BTC (-0.22%) showing modest declines while ETH -1.53% is up approximately 1% on the day. SOL -1.70% (+7.74%) is outperforming today as lately DeFi activity...
INTRODUCTION Metablox Games is a Web3 gaming studio leveraging Roblox to become a collaborative gaming venture synonymous with groundbreaking gaming experiences. Metablox is adopting a four-point strategy of (1) game development, (2) game acquisition, (3) strategic investments, and (4) empowerment and education to become a cornerstone of the Roblox ecosystem. For those unfamiliar with Roblox, it is an online platform and game creation system that allows users to design and...
The âSanta Clause rallyâ is in full effect within equity markets, as the QQQ (+0.08%) has made a new all-time high, and the SPY (+0.07%) is less than 1% away from doing the same. Crypto markets are joining the fun, with BTC (+3.90%) rising to just under $44k and ETH -1.53% (+2.99%) trading near $2,350. Bitcoin layer-2, Stacks (STX 5.89% ), is outperforming today, rising over 26% amid Bitcoin monthly transactions reaching an...
After experiencing an overnight drawdown during Asian market hours, cryptoassets are witnessing a notable bounce at the US market open. BTC is at the forefront, rebounding to $41.5k after briefly dipping to $40.5k last evening. Meanwhile, ETH -1.53% is trailing behind, currently down about 1% to $2170. Although altcoins are broadly lower at the start of the day, select ones like STX 5.89% , a Bitcoin layer 2 network, are performing well, likely...
WEEKLY RECAP Crypto funding remained elevated for the third consecutive week, totaling $271 million, a slight drop from last week’s $289 million. The most funded category was Web3 and NFTs, largely due to a $140 million round closed by Line Next, the Web3 unit of the Japanese messaging app Line. Crescendo Equity Partners, a Peter Thiel-backed private equity firm, led the investment round. Infrastructure was the most popular category from...
Equities are mixed today but on track for the seventh straight week of gains, the longest winning streak since 2017. The Nasdaq gained .38% while the S&P fell .49%. Both indices are in striking distance of all-time highs following comments from Fed officials about inflation coming down and potential rate cuts in 2024. BTC has pulled back to $41.8k, down 3.3% after facing resistance at $43.4k. ETH -1.53% is performing in...
