Crypto Research
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Encouraging Move in CB Discount at US Market Open, CORZ announcement leads HPC Miner Cohort Higher
CRYPTO MARKET UPDATE CRYPTO IS REBOUNDING NICELY TODAY FOLLOWING AN INTENSE BITCOIN-LED SELLOFF YESTERDAY, CATALYZED BY IDIOSYNCRATIC SELL PRESSURE FROM FEARS OVER MT. GOX SUPPLY COMING TO MARKET. It was a somewhat rare occurrence to have such a significant selloff in BTC -0.49% but an overall positive day for altcoins. BTC -0.49% is attempting to reclaim $62k, while ETH -1.40% hovers just above $3400, and SOL 1.22% tries to break through $140 again. Interestingly,...
CLOUD COMPUTING OVERVIEW The creation of the internet has had a significant impact on how enterprises are run and managed. Prior to the internet, companies were required to invest in on-premises infrastructure such as physical hardware, servers, networking equipment, and software applications. The internet has enabled the creation of cloud computing, or the ability for businesses to access traditional infrastructure via the internet. There are three main segments of cloud...
CRYPTO MARKET UPDATE EQUITIES ARE MIXED THIS MORNING, WITH THE SPY -0.12% GAINING 0.30% AND THE QQQ -0.77% DECREASING 0.31%, WEIGHED DOWN BY A 5% DROP IN NVDA 26.41% . The DXY N/A% has dropped 0.32%, although it has not boosted crypto assets. BTC -0.49% has fallen more than 3%, briefly dropping under $61k after news of Mt. Gox repayments beginning in July (more below). ETH -1.40% has followed suit, declining to $3,300 despite the likelihood that...
WEEKLY RECAP Private funding was suppressed as we enter the summer season, with total funding dropping 43% week-over-week to $66 million and deal count decreasing 52% to 15 deals. Infrastructure still took the top spot from a funding perspective, totaling $31 million across three deals, including Sonic, our Deal of the Week. DeFi tallied the most deals (6) and had the second most funding across categories ($24m). CeFi had its...
CRYPTO MARKET UPDATE TODAY'S FLASH S&P PMIS SURPRISED TO THE UPSIDE, LEADING TO A BRIEF UPTICK IN RATES, WHICH HAS SINCE LARGELY RECEDED. Despite this, the DXY continues its march back toward 106, nearly reaching that level this morning. Naturally, crypto continues to display relative weakness, with BTC -0.49% dropping below $64k, ETH -1.40% below $3500, and SOL 1.22% briefly dipping below $130, now trading just above that level. ETHBTC is showing some...
LDO Risk/Reward Looks Good Here, Immediate-term Macro Picture Still Uncertain (Core Strategy Rebalance)
FLOWS AND SENTIMENT STILL SUBDUED Last week, we received a better-than-expected CPI print, but the DXY continued to move higher due to global weakness and a hawkish Fed. We discussed the risks appearing in the metrics we use to gauge sentiment and flows. The overall lack of follow-through in the crypto market was evident. Volumes, net ETP flows, the Coinbase discount, stablecoin market cap trend, and search interest for key...
CRYPTO MARKET UPDATE DESPITE SLIGHTLY HIGHER THAN EXPECTED JOBLESS CLAIMS (238K VS. 235K EXP.) AND WEAK HOUSING STARTS DATA, RATES ARE RISING TODAY, WITH THE US10Y TICKING UP TO 4.27%. The DXY is also rising as investors are pricing a higher likelihood of the Bank of England cutting rates in August after holding them steady today. The S&P 500 and Nasdaq 100 opened at new all-time highs and are now...
CRYPTO MARKET UPDATE U.S. EQUITIES ARE FLAT IN TODAY’S TRADING AHEAD OF TOMORROW’S MARKET CLOSURE IN RECOGNITION OF JUNETEENTH. This morning’s retail sales report showed consumer spending slowing, with MoM sales reading +0.1% versus +0.3% expected and core sales at -0.1% versus +0.2% expected. Rates and the DXY are declining in response to the data, while crypto assets continue to show weakness. BTC -0.49% fell to the low $64,000s this morning...