Crypto Research
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Cryptoassets and equities swapped roles today as the crypto market received a significant boost during Asian trading hours (more on this below). BTC reclaimed its position above $27k, while ETH made a strong push toward $1850. Among alts, the performance has been mixed. ETH scaling solutions ARB 0.05% , OP, and IMX all experienced gains of over 2% during the day. Meanwhile, the native token of the decentralized GPU rendering platform, RNDR,...
A NOSEDIVE IN VOLATILITY Equities are not the only asset class undergoing a noticeable decline in volatility. Both Bitcoin and Ethereum are following a similar path. Over the past two months, there has been a significant decrease in the implied volatilities of these blue chip cryptoassets, especially following the fallout from the Silicon Valley Bank (SVB) crisis and the subsequent rally in prices following the Federal Reserve’s intervention. The sense...
DCG Misses $640m Payment, 3AC's NFTs Fetch $2.5m, and Pudgy Penguins Launch Toys on Amazon
Equity markets opened the week with mixed results while bonds yields ticked higher as investors eagerly await updates on debt-ceiling negotiations. Relative to last week's close, NDAQ 1.25% is trading at -0.2%, ^SPX 0.91% is flat (+0.1%), while QQQ 1.15% is changing hands at +0.4%. US02Y and US10Y are up 1% on the day, reflecting the President's and House Speaker's meeting later today in an effort to avoid a technical default. Digital asset...
After bleeding lower this morning, crypto markets and gold saw relief immediately following Janet Yellen's statement to bank CEOs that "more mergers may be necessary." At the time of writing, BTC is up 0.12%, ETH is up 0.72%, and gold is up 1.07%. While most altcoins continue to underperform, AI-related coins have been standouts the past few days. AI coins SingularityNET (AGIX) and Fetch. ai (FET -3.29% ) are up 18.49% and...
This morningâs jobless claims were softer than anticipated (242k vs. 254k exp.), potentially giving the Fed room to diverge from the expected âpauseâ at Juneâs FOMC meeting. The data release has not disheartened equity investors as the divergence between equities and crypto has continued. The SPY 0.91% (+0.53%) is approaching $4,200, and the QQQ 1.15% (+1.24%) surpassed August â22 highs, while BTC (-0.71%) and ETH (-0.40%) are showing modest declines. Among the...
Stocks are rising as investors anticipate a potential agreement between congressional leaders and President Joe Biden regarding the U.S. debt ceiling. The S&P gained 1.19%, while the Nasdaq is up 1.2%. Leaders on both sides of the aisle made positive comments following negotiations. House Speaker McCarthy stated it's "possible to get a deal by the end of the week," President Biden said he was "confident" about a deal resolution. BTC...
Lido Finance Launches v2 Upgrade, Institutional Infrastructure Continue to Attract Funding and Partnerships
Markets saw a retracement as retail sales data for April came in lower than expected, triggering fears of weak earnings from retailers. ^SPX 0.91% and NDAQ 1.25% slid 0.3% and 0.6% lower than yesterday's close, while the QQQ 1.15% continued its ascent from nearly two weeks ago, up 0.5%. Digital asset markets saw a similar decline, with BTC dipping below $27k for the second time in the past month, and ETH trading at...
Bitcoin (BTC) and the broader crypto market are staging a recovery after a week of bearish price action, with altcoins facing particularly excessive pressure. Bitcoin has successfully bounced off its key 200-week moving average around $25,800 and is now hovering around $27,400. Ethereum (ETH), meanwhile, remains stable above the $1,820 level. Notable standout performers include altcoin LDO, up 12% on the day, potentially driven by improved withdrawal capabilities and short...
FIGURE: PEPES WEARING CONES TO CELEBRATE NEW CURVE ECOSYSTEM PROTOCOL INVESTMENT THESIS Out of the numerous tokenomic designs that emerged (and failed) last cycle, the vote-escrowed model proved objectively most ‘feasible’, as evidenced by Curve’s dominant position in TVL amongst DEXs. Control over a protocol’s gauge emissions made sense to many, assigning real value to governance tokens. The second-order expectations that liquidity would follow did as well. However, maximizing yield...
