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>This has been perhaps the single most consequential week for crypto in the U.S., as the SEC charged Coinbase with operating an unregistered securities exchange and charged Binance, Binance.US, and CEO Changpeng Zhao (“CZ”) with a variety of securities law violations. </li><li>Just two months ago, we chronicled the CFTC’s charges against Binance and CZ, which primarily focused on Binance’s alleged efforts to onboard high-volume U.S. traders onto Binance, rather than Binance.US (for simplicity, “Binance” will refer to the international exchange and “Binance.US” its U.S. affiliate).</li><li>This analysis showed that despite the creation of Binance.US in 2019, Binance’s trading had actually become more skewed towards U.S. hours, in fact resembling U.S.-based exchanges like Coinbase.</li></ul>

This has been perhaps the single most consequential week for crypto in the U.S., as the SEC charged Coinbase with operating an unregistered securities exchange and charged Binance, Binance.US, and CEO Changpeng Zhao (“CZ”) with a variety of securities law violations. Just two months ago, we chronicled the CFTC’s charges against Binance and CZ, which primarily focused on Binance’s alleged efforts to onboard high-volume U.S. traders onto Binance, rather than Binance.US (for simplicity, “Binance” will refer to the international exchange and “Binance.US” its U.S. affiliate).This analysis showed that despite the creation of Binance.US in 2019, Binance’s trading had actually become more skewed towards U.S. hours, in fact resembling U.S.-based exchanges like Coinbase.

<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.

<ul><li>Since the collapse of FTX last year, there has been little good news on the liquidity front for crypto assets.</li><li>The shutdown of the Signet and SEN fiat settlement networks in the US severely impacted market makers operational efficiency.</li><li>This can be seen in 2% market depth for ETH, which dipped in March and has failed to recover to pre-FTX levels.</li></ul>

Since the collapse of FTX last year, there has been little good news on the liquidity front for crypto assets.The shutdown of the Signet and SEN fiat settlement networks in the US severely impacted market makers operational efficiency.This can be seen in 2% market depth for ETH, which dipped in March and has failed to recover to pre-FTX levels.

<ul><li>Asset Metrics is perhaps the most powerful product that Kaiko has ever released.</li><li>With a single endpoint, users are able to fetch historical liquidity and volume data for any asset we cover, including all instruments and all exchanges – centralized or decentralized.</li><li>Additionally, it includes historical holder data for a wide variety of ERC-20 tokens.</li></ul>

Asset Metrics is perhaps the most powerful product that Kaiko has ever released.With a single endpoint, users are able to fetch historical liquidity and volume data for any asset we cover, including all instruments and all exchanges – centralized or decentralized.Additionally, it includes historical holder data for a wide variety of ERC-20 tokens.

LDO's Shifting Market Structure: Unveiling Asset Metrics

<ul><li>Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction.</li><li>Over the weekend, daily volume dropped to multi-year lows.</li><li>Yet, amid the lull, Tether’s market cap is quickly approaching a new all time high, with the total supply currently at $82.9 billion.</li></ul>

Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction.Over the weekend, daily volume dropped to multi-year lows.Yet, amid the lull, Tether’s market cap is quickly approaching a new all time high, with the total supply currently at $82.9 billion.

Why Is Tether's Market Cap Approaching ATH?

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)

The Data Behind the SEC's Big Week

This analysis showed that despite the creation of Binance.US in 2019, Binance’s trading had actually become more skewed towards U.S. hours

Kaiko

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

ETH Liquidity Shows Positive Trend

The shutdown of the Signet and SEN fiat settlement networks in the US severely impacted market makers operational efficiency.

Kaiko

LDO's Shifting Market Structure: Unveiling Asset Metrics

Asset Metrics is perhaps the most powerful product that Kaiko has ever released. With a single endpoint, users are able to fetch historical...

Kaiko

Why Is Tether's Market Cap Approaching ATH?

Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction.

Kaiko

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52-week Range

Market Cap (USDm)

P/E

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