Crypto Research

CPI STILL HOT For the second consecutive month, inflation was much hotter than analysts had anticipated. Despite headline CPI easing for the third consecutive month, the headline figure of 8.2% came in above the market consensus of 8.1%, and Core CPI accelerated to 6.6%, the highest in 40 years. Despite some relief in goods inflation, the numbers were not highly constructive for risk markets (or so it would seem). _Source:...

MACRO UPDATE The narrative in macro-land skewed negative this week until a strong jobs report on Friday morning.JOLTs data showed a big surprise to the downside, as job openings declined 10% in August. A job opening total of 10 million was materially lower than the 11 million consensus estimate and was the most significant 1-month decline since the start of COVID. Fewer job openings suggested a softening labor market.ISM Manufacturing...

Funding for this week has seen a dramatic decrease compared to last week. Total funding fell 53% to $154 million compared to $328 million last week. Web3 was the winning category of funding deals representing 75% of all capital raised, breaking the pattern of infrastructure being the dominant category over the prior two weeks. Horizon Blockchain Games tied for the largest deal this week, raising $40 million in a Series-A deal....

EXECUTIVE SUMMARYGROWING DEMAND FOR LAYER 1 BLOCK SPACE. Through 2021, the demand for Ethereum block space has exploded on all metrics. Post-merge, Ethereum will attempt to scale via execution layers, while alternate Layer 1s might continue gaining market share on different use cases.BRIDGING WEB 2 TO WEB 3 WITH HYBRID COMPUTE. Boba’s hybrid compute technology brings the decentralization of Web 3 to the compute power of Web 2, while possessing...