Podcast with Crypto Gigabrains, The Delphi Podcast

The Delphi Podcast

Podcast with Crypto Gigabrains

Conversations with Crypto Gigabrains. Hosted by Tommy, Co-Founder and Founding Partner at Delphi Ventures

Crypto

<ul><li>Discussion on the performance and outlook of various assets, including Solana, Ethereum, and Bitcoin</li><li>Analysis of market trends and potential factors that could drive asset valuations in the future</li><li>Debate on the future dominance and valuation of different L1 networks such as Solana and Ethereum</li><li>Speculation on the potential for an L1 network to surpass the market cap of Bitcoin and gold</li><li>Mention of upcoming report release and the importance of becoming a subscriber for detailed insights</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Discussion on the performance and outlook of various assets, including Solana, Ethereum, and BitcoinAnalysis of market trends and potential factors that could drive asset valuations in the futureDebate on the future dominance and valuation of different L1 networks such as Solana and EthereumSpeculation on the potential for an L1 network to surpass the market cap of Bitcoin and goldMention of upcoming report release and the importance of becoming a subscriber for detailed insightsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Senior Cryptocurrency Analyst, Steno Research

Mads Eberhardt

Senior Cryptocurrency Analyst

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.

<ul><li>In Crypto Moves #44 from September 19, we stated that Ethereum would shine again.</li><li>This prediction appears to be steadily materializing.</li><li>Since the U.S. Presidential election, Ethereum has regained some of the ground it has lost against Bitcoin during the year.</li></ul>

In Crypto Moves #44 from September 19, we stated that Ethereum would shine again.This prediction appears to be steadily materializing.Since the U.S. Presidential election, Ethereum has regained some of the ground it has lost against Bitcoin during the year.

Crypto Crisp: Indeed, Ethereum Shines Again

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>The onchain economy has experienced unprecedented growth in 2024, with a 70% increase in total value locked (TVL) across major networks, surpassing $70 billion.</li>
<li>Key drivers include the adoption of stablecoins, Layer 2 solutions, gaming, collectibles, and institutional interest.</li>
<li>Base, an Ethereum Layer 2 incubated by Coinbase, stands out with 1,600% growth in daily transactions and a 470% rise in TVL since January.</li>
</ul>


The onchain economy has experienced unprecedented growth in 2024, with a 70% increase in total value locked (TVL) across major networks, surpassing $70 billion.
Key drivers include the adoption of stablecoins, Layer 2 solutions, gaming, collectibles, and institutional interest.
Base, an Ethereum Layer 2 incubated by Coinbase, stands out with 1,600% growth in daily transactions and a 470% rise in TVL since January.


Exploring Base's Role in the Growing Onchain Economy

Crypto Analyst

Edward Wu

TokenInsight

Investment Research House

<ul>
<li>The Merge narrative is the short-term factor driving the ETH price. In the mid-to-long term, structural supply reduction provides a long-term bull case for ETH.</li>
<li>Staked ETH derivatives' price will converge to 1:1 with ETH , purchasing liquid staked ETH derivatives at a discount is a better strategy to accumulate ETH long-term position.</li>
<li>Liquid staking protocol, Lido Finance, will enjoy a tailwind after the merge with a surge in staking ratio. LDO token is a high beta play of ETH's bull case. 
</li>
</ul>


The Merge narrative is the short-term factor driving the ETH price. In the mid-to-long term, structural supply reduction provides a long-term bull case for ETH.
Staked ETH derivatives' price will converge to 1:1 with ETH , purchasing liquid staked ETH derivatives at a discount is a better strategy to accumulate ETH long-term position.
Liquid staking protocol, Lido Finance, will enjoy a tailwind after the merge with a surge in staking ratio. LDO token is a high beta play of ETH's bull case. 



Investment Thesis Post-Ethereum 2.0 Merge

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

Rose Choy

<ul>
<li>We compare the yields in some Ethereum based protocols and figure out what an effective USD denominated yield would be, which is more relevant for most investors.</li>
<li>On Curve and Convex, the ETH-stETH liquidity pool can pay liquidity providers (APY) close to 10% in USD terms which appears attractive.</li>
<li>However, this reflects systematic liquidity concerns among major trading crypto firms and could be a canary in the coal mine for the crypto space.</li>
</ul>


We compare the yields in some Ethereum based protocols and figure out what an effective USD denominated yield would be, which is more relevant for most investors.
On Curve and Convex, the ETH-stETH liquidity pool can pay liquidity providers (APY) close to 10% in USD terms which appears attractive.
However, this reflects systematic liquidity concerns among major trading crypto firms and could be a canary in the coal mine for the crypto space.


Yield Comparisons Across ETH Based Protocols

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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Ethereum (XETUSD CURNCY)

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Overall, the discussion centered around the performance and outlook of Delta and other assets, global liquidity trends, a bullish outlook on risk...

The Delphi Podcast

Crypto Crisp: Indeed, Ethereum Shines Again

In Crypto Moves #44 from September 19, we stated that Ethereum would shine again. This prediction appears to be steadily materializing. Since the...

Steno Research

Exploring Base's Role in the Growing Onchain Economy

The onchain economy has experienced unprecedented growth in 2024, with a 70% increase in total value locked (TVL) across major networks, surpassing...

Delphi Digital

Investment Thesis Post-Ethereum 2.0 Merge

The bull case for ETH and Lido Finance, and accumulating long-term ETH position through Liquid Staking Derivatives with a discount

Edward Wu

Yield Comparisons Across ETH Based Protocols

Yields on some Ethereum based protocols look attractive. However, this reflects systematic liquidity concerns among trading crypto firms and could...

Rose Choy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)