Data-Driven Analysis of Cryptocurrency Markets, Kaiko

Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Kaiko is the leading cryptocurrency market data provider for institutional investors and enterprises. We empower market participants with accurate, transparent, and actionable financial data to be leveraged for a range of market activities. Kaiko’s mission is to be the foundation of the new digital finance economy by serving as a single source for market information. Our mission is premised on the idea that high-quality data drives market efficiency and greater transparency throughout the industry. For each of our enterprise clients, we build custom data plans designed for a range of use cases.

Crypto

<ul><li>Last week, Binance announced that it would restrict trading of privacy tokens for users in France, Italy, Poland, and Spain starting June 26.</li><li>This follows similar de-listings by Huobi, OkCoin, Bithumb, and Upbit.</li><li>As the name suggests, privacy tokens are designed to allow users to transact anonymously, rather than pseudonymously.</li></ul>

Last week, Binance announced that it would restrict trading of privacy tokens for users in France, Italy, Poland, and Spain starting June 26.This follows similar de-listings by Huobi, OkCoin, Bithumb, and Upbit.As the name suggests, privacy tokens are designed to allow users to transact anonymously, rather than pseudonymously.

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

<ul><li>The SET Index is expected to move sideways down in the long term, with the support at 1,530/1,517 points and the resistance at 1,540/1,550 points.</li><li>Looking ahead, the consensus expects the growth to continue contracting, with the 2Q-4Q23E US GDP forecast at +0.5%, -0.5% and -0.5%, respectively; at the same time, the unemployment rate is anticipated to accelerate in 2Q-4Q23E to 3.6%, 3.9% and 4.3%, respectively, implying higher economic risks.</li><li>We recommend MINT, TIDLOR and SCB.</li></ul>

The SET Index is expected to move sideways down in the long term, with the support at 1,530/1,517 points and the resistance at 1,540/1,550 points.Looking ahead, the consensus expects the growth to continue contracting, with the 2Q-4Q23E US GDP forecast at +0.5%, -0.5% and -0.5%, respectively; at the same time, the unemployment rate is anticipated to accelerate in 2Q-4Q23E to 3.6%, 3.9% and 4.3%, respectively, implying higher economic risks.We recommend MINT, TIDLOR and SCB.

Credit/Macro/Crypto Analyst, Former Credit/MA PM

Rose Choy

<ul>
<li>In the latest inning of the crypto credit crisis, real world banks like Silvergate was shuttered making the on-and-off ramp of crypto to fiat more challenging.</li>
<li>Crypto lenders have already been decimated in the centralised lending space while DeFi lenders seem to trudge along - but are they the bastions of success? </li>
<li>We analyse what the current landscape means for the crypto lending industry and have a regrettable conclusion.</li>
</ul>


In the latest inning of the crypto credit crisis, real world banks like Silvergate was shuttered making the on-and-off ramp of crypto to fiat more challenging.
Crypto lenders have already been decimated in the centralised lending space while DeFi lenders seem to trudge along - but are they the bastions of success? 
We analyse what the current landscape means for the crypto lending industry and have a regrettable conclusion.


Crypto Lending Series #4: The Waste Land of Lending

<ul>
<li>The best design often goes unnoticed. DeFi lending and borrowing stalwarts Aave and Compound have proven themselves to be great design: critical for day-to-day functioning but largely taken for granted.</li>
<li>This becomes apparent when a competitor experiences an exploit, highlighting the reliability of Aave and Compound</li>
<li>When last we checked in on these protocols in December they were in a period of change.</li>
</ul>


The best design often goes unnoticed. DeFi lending and borrowing stalwarts Aave and Compound have proven themselves to be great design: critical for day-to-day functioning but largely taken for granted.
This becomes apparent when a competitor experiences an exploit, highlighting the reliability of Aave and Compound
When last we checked in on these protocols in December they were in a period of change.


Leveraging LSDs: The Next Era of Lending and Borrowing

<ul><li>We recommend cutting losses on SJWD, SABUY and AAV as their returns have dropped below our threshold and selling GPSC (return: -4.14%) after the stock fell out of our top rankings.</li><li>Our Big Cap portfolio yesterday generated a return of -0.2% (vs. the SET Index's return of -0.99%), as the share prices of AAV, TTB and THG outperformed the market.</li></ul>

We recommend cutting losses on SJWD, SABUY and AAV as their returns have dropped below our threshold and selling GPSC (return: -4.14%) after the stock fell out of our top rankings.Our Big Cap portfolio yesterday generated a return of -0.2% (vs. the SET Index's return of -0.99%), as the share prices of AAV, TTB and THG outperformed the market.

United States

AAVE is a decentralised Finance (DEFI) protocol that allows users to borrow and lend crypto. Holders of AAVE get discounted fees on the platform and are allowed to vote on the future of the protocol

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Aave (XVV DAR CURNCY)

The Fraught Future of Privacy Tokens

Last week, Binance announced that it would restrict trading of privacy tokens for users in France, Italy, Poland, and Spain starting June 26. This...

Kaiko

External Risks from US Economic Slowdown

The SET Index is expected to move sideways down in the long term, with the support at 1,530/1,517 points and the resistance at 1,540/1,550...

Krungthai XSpring

Crypto Lending Series #4: The Waste Land of Lending

With the shutter of Silvergate bank, the on-off ramp for crypto to fiat is severed. While the crypto lending space is already challenged, we...

Rose Choy

Leveraging LSDs: The Next Era of Lending and Borrowing

DeFi lending and borrowing stalwarts Aave and Compound have proven themselves to be great design: critical for day-to-day functioning but largely...

Kaiko

Big Cap Tactical Picks

We recommend cutting losses on SJWD, SABUY and AAV as their returns have dropped below our threshold and selling GPSC (return: -4.14%) after the...

Krungthai XSpring

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