HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

Crypto

<ul>
<li>Market inefficiencies persist in crypto markets, particularly in cross-exchange arbitrage and futures basis trading</li>
<li>Traditional factor models can be adapted for cryptocurrency markets with size, momentum, and liquidity factors showing statistical significance</li>
<li>On-Chain metrics provide unique alpha signals unavailable in traditional markets</li>
</ul>


Market inefficiencies persist in crypto markets, particularly in cross-exchange arbitrage and futures basis trading
Traditional factor models can be adapted for cryptocurrency markets with size, momentum, and liquidity factors showing statistical significance
On-Chain metrics provide unique alpha signals unavailable in traditional markets


New Research: Unlocking Quantitative Alpha in Cryptocurrency Markets

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>Morning from Copenhagen ahead of a big week.</li><li>I was coincidentally sitting in front of the screens when Moody’s announced its downgrade of the US late in the Friday session, and the timing was admittedly peculiar—with just 5–10 minutes left of futures trading before the closing bell.</li><li>Back in August 2023, when Fitch downgraded the US, it did spark a mild risk-off environment, with the long end of the yield curve continuing its upward trend.</li></ul>

Morning from Copenhagen ahead of a big week.I was coincidentally sitting in front of the screens when Moody’s announced its downgrade of the US late in the Friday session, and the timing was admittedly peculiar—with just 5–10 minutes left of futures trading before the closing bell.Back in August 2023, when Fitch downgraded the US, it did spark a mild risk-off environment, with the long end of the yield curve continuing its upward trend.

Steno Signals #197 – The Mood(Y)’s Is Bad in the Fiat

Cross Asset Strategy

<ul><li>Episode number eight of the Barbarians podcast on Valentine's Day, February 14, 2025, featuring guest Kevin Jang, CIO of Virgo Digital Asset Management</li><li>Kevin's background includes experience in trading fixed income markets and digital assets, providing valuable insights on correlations between traditional macroeconomics and digital assets</li><li>Discussion on recent market events such as blowout jobs numbers and higher than expected CPI, signaling a potential turning point in the markets and a shift in investor sentiment</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Episode number eight of the Barbarians podcast on Valentine's Day, February 14, 2025, featuring guest Kevin Jang, CIO of Virgo Digital Asset ManagementKevin's background includes experience in trading fixed income markets and digital assets, providing valuable insights on correlations between traditional macroeconomics and digital assetsDiscussion on recent market events such as blowout jobs numbers and higher than expected CPI, signaling a potential turning point in the markets and a shift in investor sentimentThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Kevin Jiang - The Biggest Trade of Our Lifetime & The Next Financial Shift | The New Barbarians #008

Crypto Research and Data, Delphi Digital

Delphi Digital

Crypto Research and Data

Institutional-Grade Crypto Research & Data

Delphi Digital seeks to produce unbiased, actionable content for our clients on critical themes affecting digital assets and distributed ledger technology. Our team is committed to providing investors and institutions with key insights through a diverse suite of products including individual project analysis, bespoke research, and tailored consulting services.

<ul>
<li>We're excited to share our deep dive on zkVerify as part of the inaugural cohort for Delphi x The Tie's Institutional Accelerator.</li>
<li>This modular L1 blockchain is designed to become the universal verification layer for zero-knowledge proofs (ZKPs).</li>
<li>Developed by Horizen Labs, zkVerify addresses critical challenges in ZKP implementation by optimizing verification efficiency, enabling proof verification at a fraction of the cost and expanding possibilities for scalable and interoperable applications.</li>
</ul>


We're excited to share our deep dive on zkVerify as part of the inaugural cohort for Delphi x The Tie's Institutional Accelerator.
This modular L1 blockchain is designed to become the universal verification layer for zero-knowledge proofs (ZKPs).
Developed by Horizen Labs, zkVerify addresses critical challenges in ZKP implementation by optimizing verification efficiency, enabling proof verification at a fraction of the cost and expanding possibilities for scalable and interoperable applications.


ZkVerify: Optimizing Zero Knowledge Proof Verification at Scale

Senior Cryptocurrency Analyst, Steno Research

Mads Eberhardt

Senior Cryptocurrency Analyst

<ul><li>Nobody enjoys reading lengthy analyses during the holidays between Christmas and New Year’s Eve, and frankly, I am not inclined to write much either.</li><li>Therefore, this edition of Crypto Moves is a concise one, focusing solely on our boldest predictions for the coming year—specifically for 2025.</li><li>These forecasts are straightforward and easy to verify a year from now, whether we turn out to be right or wrong.</li></ul>

Nobody enjoys reading lengthy analyses during the holidays between Christmas and New Year’s Eve, and frankly, I am not inclined to write much either.Therefore, this edition of Crypto Moves is a concise one, focusing solely on our boldest predictions for the coming year—specifically for 2025.These forecasts are straightforward and easy to verify a year from now, whether we turn out to be right or wrong.

Crypto Moves #58 – Our Predictions for the Crypto Market in 2025

United States

Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

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New Research: Unlocking Quantitative Alpha in Cryptocurrency Markets

AI Agent Deep Dive! Not enough time to READ 👀? Check out the AI Agent Deep Dive Discussion of this Paper on Youtube: https://youtu.be...

William Mann

Steno Signals #197 – The Mood(Y)’s Is Bad in the Fiat

Morning from Copenhagen ahead of a big week. I was coincidentally sitting in front of the screens when Moody’s announced its downgrade of the US...

Steno Research

Kevin Jiang - The Biggest Trade of Our Lifetime & The Next Financial Shift | The New Barbarians #008

On the Valentine's Day episode of Barbarians podcast, Kevin Jang, CIO of Virgo Digital Asset Management, discusses digital assets and their...

William Mann

ZkVerify: Optimizing Zero Knowledge Proof Verification at Scale

We're excited to share our deep dive on zkVerify as part of the inaugural cohort for Delphi x The Tie's Institutional Accelerator.

Delphi Digital

Crypto Moves #58 – Our Predictions for the Crypto Market in 2025

Nobody enjoys reading lengthy analyses during the holidays between Christmas and New Year’s Eve, and frankly, I am not inclined to write much...

Steno Research

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