Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Crypto

<ul><li>Price Movements: Bullish sentiment has returned to crypto, with BTC up 20% over the past week.</li><li>Market Liquidity: Binance.US's market share relative to other U.S. exchanges climbed to 15%, a marked increase after dropping to 6% post-FTX.  </li><li>Derivatives: BTC open interest fell sharply after a short squeeze caused millions in liquidations.</li></ul>

<ul><li>Some people think of crypto as purely an investment opportunity. A highly volatile asset class that comes with risk, but eventually the returns will be worth it.</li><li>However, this perception is somewhat naive, as it ignores one of crypto’s biggest use cases: financial freedom.</li><li>The concept of financial freedom is hard to grasp for the privileged of us living in Europe or the US - despite record levels of inflation, we are not financially oppressed, and we can bank on our savings being relatively intact next year.</li></ul>

Etherbridge

Digital Asset Management Firm

<ul><li>We've all been there. At some point in the Christmas supper, maybe between the roast turkey and the mince pies, Aunty Hilda or Granda Joe inadvertently starts a heated debate around this "bitcoin thing."</li><li>There may be a tech-savvy cousin who tries to come to the rescue and explain how blockchain works or why people value jpegs on the internet, to no avail. </li><li>This year the Etherbridge team thought we would do a holiday special titled "Crypto At The Christmas Table" so you are fully prepared to handle any blockchain conversation that may arise. So let's dive in.</li></ul>

<ul><li>Price Movements: The stETH discount worsened after a whale withdrew $100m ETH from Curve. </li><li>Market Liquidity: BUSD's market share of volume on centralized exchanges is approaching all time highs. </li><li>Derivatives: The ratio of futures to spot volume has experienced a 5x drop, meaning fewer derivatives are being traded relative to spot.</li></ul>

<ul><li>The FTX saga keeps entering new levels of strange.</li><li>On Friday, both FTX and FTX US filed for bankruptcy, along with 134 related entities, highlighting just how tangled the exchange’s corporate web had become.</li><li>Just a few hours later, the exchange suffered what now appears to be a massive hack, with more than $600mn siphoned from both FTX and FTX US wallets, instantly triggering rumors of an inside job. </li></ul>

United States

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Bitcoin Pro - BTCP CURNCY

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