Crypto Investing and Decentralized Finance, Coinstack

Coinstack

Crypto Investing and Decentralized Finance

Coinstack is published weekly by Ryan Allis. He was previously CEO and Co-founder of iContact and led the company from 300 employees, 70,000 customers, and $50M in annual sales and an exit for $169M. Ryan was an angel investor in SpaceX, LendingClub, Change.org, Kuli Kuli, and Catalant. Today, Ryan advises companies and governments on blockchain-related projects and is the Chairman of Hive.org, a global community of 3,500 purpose-driven leaders from 130 countries making a positive impact in the world. Ryan holds an MBA from Harvard Business School where he was Co-President of the Harvard Social Enterprise Club and a fellow of the Harvard Graduate School Leadership Institute.

Crypto

<p>In this week, we talk about the rapid rise of Avalanche into the fastest-growing major blockchain in DeFi. We also highlight the most important news and highlights from the top reports in our industry, as Bitcoin passes $54k and ETH passes $3600.</p>

In this week, we talk about the rapid rise of Avalanche into the fastest-growing major blockchain in DeFi. We also highlight the most important news and highlights from the top reports in our industry, as Bitcoin passes $54k and ETH passes $3600.

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.

<ul><li>After years of waiting, Ripple finally got a ruling in their highly anticipated lawsuit with the SEC: the company did not violate federal securities law by selling its XRP token on public exchanges.</li><li>The market reaction was near instantaneous.</li><li>Since Thursday, XRP is up 61% and several exchanges that had previously de-listed the token, including Coinbase and Kraken, immediately re-listed it.</li></ul>

After years of waiting, Ripple finally got a ruling in their highly anticipated lawsuit with the SEC: the company did not violate federal securities law by selling its XRP token on public exchanges.The market reaction was near instantaneous.Since Thursday, XRP is up 61% and several exchanges that had previously de-listed the token, including Coinbase and Kraken, immediately re-listed it.

XRP Volume Surpasses BTC Following Landmark Ruling

<ul><li>Binance.US is bleeding. One week after the SEC lawsuit, market makers and traders have fled the exchange en masse.</li><li>Liquidity, as measured by aggregated market depth for 17 tokens on the exchange, has fallen nearly 80% over the past week.</li><li>On June 4, the day before the SEC lawsuit, market depth was $34mn. Today, market depth is just $7mn.</li></ul>

Binance.US is bleeding. One week after the SEC lawsuit, market makers and traders have fled the exchange en masse.Liquidity, as measured by aggregated market depth for 17 tokens on the exchange, has fallen nearly 80% over the past week.On June 4, the day before the SEC lawsuit, market depth was $34mn. Today, market depth is just $7mn.

<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>The rise in popularity of BRC-20 tokens, essentially memecoins on the Bitcoin blockchain, has pushed Bitcoin fees to 2 year highs.</li><li>BRC-20s have massively increased demand for Bitcoin blockspace for the first time in recent history, with the network suffering from congestion and unconfirmed transactions as a result.</li><li>Over the weekend, Binance had to pause BTC withdrawals twice as they hadn’t accounted for a surge in BTC fees in the amount they pay miners, which had caused many transactions to go unconfirmed.</li></ul>

The rise in popularity of BRC-20 tokens, essentially memecoins on the Bitcoin blockchain, has pushed Bitcoin fees to 2 year highs.BRC-20s have massively increased demand for Bitcoin blockspace for the first time in recent history, with the network suffering from congestion and unconfirmed transactions as a result.Over the weekend, Binance had to pause BTC withdrawals twice as they hadn’t accounted for a surge in BTC fees in the amount they pay miners, which had caused many transactions to go unconfirmed.

Binance Halts Withdrawals as BTC Fees Surge

Solana (SOL CURNCY)

Is Avalanche the New Solana?

In this week, we talk about the rapid rise of Avalanche into the fastest-growing major blockchain in DeFi. We also highlight...

Coinstack

XRP Volume Surpasses BTC Following Landmark Ruling

After years of waiting, Ripple finally got a ruling in their highly anticipated lawsuit with the SEC: the company did not violate federal...

Kaiko

Market Makers Flee Binance.US

Liquidity, as measured by aggregated market depth for 17 tokens on the exchange, has fallen nearly 80% over the past week.

Kaiko

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

Binance Halts Withdrawals as BTC Fees Surge

The rise in popularity of BRC-20 tokens, essentially memecoins on the Bitcoin blockchain, has pushed Bitcoin fees to 2 year highs.

Kaiko