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>First came the Terra collapse. Then the bankruptcies of the centralized lenders.</li><li>And now the (almost certain) insolvency of FTX, one of the largest cryptocurrency exchanges in the world. </li><li>FTX’s collapse has shaken the industry to its core, in part because it is a fundamentally different type of business than a crypto lender like Celsius.</li></ul>

First came the Terra collapse. Then the bankruptcies of the centralized lenders.And now the (almost certain) insolvency of FTX, one of the largest cryptocurrency exchanges in the world. FTX’s collapse has shaken the industry to its core, in part because it is a fundamentally different type of business than a crypto lender like Celsius.

<ul><li>Price Movements: For the first time since April, Lido staked ether (stETH) now trades at parity with ETH.</li><li>Market Liquidity: Coinbase reported lower than expected earnings due to a continued rout in trade volume.</li><li>Derivatives: ETH perpetual futures volume is now higher than BTC volumes as traders pounce at renewed volatility.</li></ul>

Price Movements: For the first time since April, Lido staked ether (stETH) now trades at parity with ETH.Market Liquidity: Coinbase reported lower than expected earnings due to a continued rout in trade volume.Derivatives: ETH perpetual futures volume is now higher than BTC volumes as traders pounce at renewed volatility.

Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Fintech & EM-focused Analyst

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>DeFi options protocols' TVL did not change much in the past three months despite the bear market we are now in.</li>
<li>Many (TradFi) institutions and institutional investors we spoke to believed the next bull market/major innovations in DeFi might be coming from protocols that offer yields from real-world assets. </li>
<li>To drive the next phase of growth, options protocols should leverage their composability to tap into it by offering those protocols additional use cases related to options. </li>
</ul>


DeFi options protocols' TVL did not change much in the past three months despite the bear market we are now in.
Many (TradFi) institutions and institutional investors we spoke to believed the next bull market/major innovations in DeFi might be coming from protocols that offer yields from real-world assets. 
To drive the next phase of growth, options protocols should leverage their composability to tap into it by offering those protocols additional use cases related to options. 


DeFi Options Protocols Series (#3): Where Can the Next Phase of Growth Come From?

<ul><li>Price Movements: Crypto markets are soaring, led by the memecoin DOGE, which is up +100% in a week. </li><li>Market Liquidity: High volatility caused bid-ask spreads to spike across ETH markets, which rippled throughout altcoin markets.</li><li>Derivatives: BitMEX, once the largest derivatives exchange, has experienced a sharp drop in perpetual futures volumes over the past two years. </li></ul>

Price Movements: Crypto markets are soaring, led by the memecoin DOGE, which is up +100% in a week. Market Liquidity: High volatility caused bid-ask spreads to spike across ETH markets, which rippled throughout altcoin markets.Derivatives: BitMEX, once the largest derivatives exchange, has experienced a sharp drop in perpetual futures volumes over the past two years. 

Crypto Analyst

Edward Wu

<ul>
<li>Hong Kong government published on Oct 31 a statement titled “Policy Statement on Development of Virtual Assets in Hong Kong” with a much friendlier stance on crypto industry</li>
<li>The policy statement mainly focuses on crypto asset ETF, NFT, tokenized assets, stablecoin, and e-HKD; while utility tokens are missing from it.</li>
<li>While this has been perceived positively by the industry, the biggest concern is still the regulatory uncertainty, especially considering mainland China’s outright ban on all crypto-related activity</li>
</ul>


Hong Kong government published on Oct 31 a statement titled “Policy Statement on Development of Virtual Assets in Hong Kong” with a much friendlier stance on crypto industry
The policy statement mainly focuses on crypto asset ETF, NFT, tokenized assets, stablecoin, and e-HKD; while utility tokens are missing from it.
While this has been perceived positively by the industry, the biggest concern is still the regulatory uncertainty, especially considering mainland China’s outright ban on all crypto-related activity


Quick Update on the New Hong Kong Crypto Policy Statement – A Revival of the Crypto Hub?

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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