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>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>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>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?

<ul><li>The stablecoin market has been upended in 2023.</li><li>The start of the year saw BUSD given an expiry date of 2024, a banking crisis in March hit USDC and DAI hard, while Binance anointed TUSD as its stablecoin of choice by choosing it for one of the few zero-fee BTC pairs in crypto.</li><li>All of these events had huge ramifications for stablecoin market structure.</li></ul>

The stablecoin market has been upended in 2023.The start of the year saw BUSD given an expiry date of 2024, a banking crisis in March hit USDC and DAI hard, while Binance anointed TUSD as its stablecoin of choice by choosing it for one of the few zero-fee BTC pairs in crypto.All of these events had huge ramifications for stablecoin market structure.

<ul><li>Last week, some of the biggest market makers in crypto, Jane Street and Jump Crypto, announced they were winding down some of their crypto exposure, particularly in the U.S due to regulatory uncertainty.</li><li>This move should have major implications for liquidity in the industry which has already lost several big players over the last year.</li><li>Interestingly, market depth for BTC has barely shifted since the announcement or over the past month, remaining at depressed levels.</li></ul>

Last week, some of the biggest market makers in crypto, Jane Street and Jump Crypto, announced they were winding down some of their crypto exposure, particularly in the U.S due to regulatory uncertainty.This move should have major implications for liquidity in the industry which has already lost several big players over the last year.Interestingly, market depth for BTC has barely shifted since the announcement or over the past month, remaining at depressed levels.

Market Makers Continue to Reduce Liquidity

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Tether (USDT CURNCY)

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 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

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

Stablecoins: Does Trust Really Matter?

The start of the year saw BUSD given an expiry date of 2024, a banking crisis in March hit USDC and DAI hard, while Binance anointed TUSD as its...

Kaiko

Market Makers Continue to Reduce Liquidity

Last week, some of the biggest market makers in crypto, Jane Street and Jump Crypto, announced they were winding down some of their crypto...

Kaiko

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