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>In the hours following Sillicon Valley Bank's collapse, news emerged that Circle, issuer of the USDC stablecoin, held $3.3bn of reserves in SVB, triggering panic that the stablecoin was no longer fully backed.</li>
<li>As of Sunday night, we know that Circle's reserves are safe, but over the weekend both centralized and decentralized markets descended into chaos.</li>
<li>Today, we'll walk you through what exactly happened.</li>
</ul>


In the hours following Sillicon Valley Bank's collapse, news emerged that Circle, issuer of the USDC stablecoin, held $3.3bn of reserves in SVB, triggering panic that the stablecoin was no longer fully backed.
As of Sunday night, we know that Circle's reserves are safe, but over the weekend both centralized and decentralized markets descended into chaos.
Today, we'll walk you through what exactly happened.


<ul><li>Crypto optimists have said for the last few months that the worst is behind us.</li><li>Just in the last year we’ve seen the collapse of crypto hedge funds, lenders and exchanges.</li><li>They say the bad actors have been removed from the space and there’s only good news from here</li></ul>

Crypto optimists have said for the last few months that the worst is behind us.Just in the last year we’ve seen the collapse of crypto hedge funds, lenders and exchanges.They say the bad actors have been removed from the space and there’s only good news from here

<ul><li>Silvergate is in deep trouble. On March 1, the “crypto bank” revealed in a regulatory filing that it could soon be “less than well capitalized.”</li><li>The news prompted Coinbase, Paxos, Galaxy Digital and a host of other large crypto enterprises to drop Silvergate as a banking partner. Why does this matter? </li><li>The “fiat problem” has long plagued crypto markets: to buy bitcoin, you at some point need to interact with the traditional banking system.</li></ul>

Silvergate is in deep trouble. On March 1, the “crypto bank” revealed in a regulatory filing that it could soon be “less than well capitalized.”The news prompted Coinbase, Paxos, Galaxy Digital and a host of other large crypto enterprises to drop Silvergate as a banking partner. Why does this matter? The “fiat problem” has long plagued crypto markets: to buy bitcoin, you at some point need to interact with the traditional banking system.

<ul><li>Price Movements: Huobi listed a token representing a claim on FTX's debt, which briefly surged to as high as $100 before crashing to $13. </li><li>Market Liquidity: Coinbase trade volume is increasingly outpacing Uniswap's, suggesting traders still prefer CEXs.</li><li>Derivatives: BTC open interest remains flat despite heavy volatility. </li></ul>

Price Movements: Huobi listed a token representing a claim on FTX's debt, which briefly surged to as high as $100 before crashing to $13. Market Liquidity: Coinbase trade volume is increasingly outpacing Uniswap's, suggesting traders still prefer CEXs.Derivatives: BTC open interest remains flat despite heavy volatility. 

<ul><li>In six years, stablecoins have grown from making up just 1.5% of BTC trade volume relative to fiat currencies such as the Dollar or Euro, to more than 87%.</li><li>This has been matched with an explosion in market capitalization for the three largest centralized stablecoins: Tether (USDT), USD Coin (USDC), and Binance USD (BUSD).</li><li>The three had a combined market cap of $10bn in May 2020, the start of DeFi Summer.</li></ul>

In six years, stablecoins have grown from making up just 1.5% of BTC trade volume relative to fiat currencies such as the Dollar or Euro, to more than 87%.This has been matched with an explosion in market capitalization for the three largest centralized stablecoins: Tether (USDT), USD Coin (USDC), and Binance USD (BUSD).The three had a combined market cap of $10bn in May 2020, the start of DeFi Summer.

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Tether (USDT CURNCY)

The Aftermath: What Happened to USDC?

As of Sunday night, we know that Circle's reserves are safe, but over the weekend both centralized and decentralized markets descended into chaos.

Kaiko

The Scramble for Silvergate Alternatives

Crypto optimists have said for the last few months that the worst is behind us. Just in the last year we’ve seen the collapse of crypto hedge...

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The Future of Fiat On-Ramps

Silvergate is in deep trouble. On March 1, the “crypto bank” revealed in a regulatory filing that it could soon be “less than well capitalized.”

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BLUR's Big Debut

Price Movements: Huobi listed a token representing a claim on FTX's debt, which briefly surged to as high as $100 before crashing to $13.

Kaiko

The Three-Stablecoin Problem

In six years, stablecoins have grown from making up just 1.5% of BTC trade volume relative to fiat currencies such as the Dollar or Euro, to more...

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