29/05/2023 Data Debrief72% of ETH liquidity is concentrated on 5 exchanges
Bitcoin gained some ground early on Monday as U.S. lawmakers reached a debt ceiling deal in principle. Hong Kong confirmed it will allow retail traders to trade certain crypto assets starting June while the Digital Currency Group (DCG) closed its trade execution and prime brokerage units, citing bear market and regulatory uncertainty.
22/05/2023 Data DebriefWhy is Tether's market cap approaching all time highs?
Bitcoin lost some ground this week, down about 2%, as crypto trade volumes slipped to yearly lows. In other industry news, Digital Currency Group missed a $630 million payment owed to crypto exchange Gemini last week, the SEC responded to Coinbase’s lawsuit and Tether announced it would start buying BTC with 15% of its excess profits. In this week’s Debrief we explore:
15/05/2023 Data DebriefMarket Makers Continue to Reduce Liquidity
BTC and ETH erased most gains as the Dollar made a strong comeback. In industry news, the Ethereum network suffered technical issues, U.S.-based Bakkt de-listed 25 tokens under regulatory pressure, and Binance.US is reportedly trying to cut CZ’s dominant stake in the exchange.
09/05/2023 Data DebriefBinance halts withdrawals as BTC fees surge
Bitcoin closed the week in the red after network congestion led Binance to halt withdrawals twice over the past 48 hours, the U.S. Fed hiked rates but opened the door for a pause amid lingering banking turmoil, Coinbase reported smaller than expected loss in the first quarter while Bittrex filed for bankruptcy.
02/05/2023 Data DebriefTUSD Depegs Amidst Heavy Borrowing
This week saw continued banking and regulatory fallout as JPMorgan Chase acquired First Republic, Binance.US withdrew from the Voyager deal citing regulatory uncertainty, and Coinbase sued the SEC demanding clear rules for crypto.
24/04/2023 Data DebriefCoinbase Targets Offshore Amid Falling Volumes
A whole bunch happened on the regulatory front last week as BTC dipped below $30k: SEC chair Gary Gensler gave a marathon defense of the crypto crackdown, the SEC filed a lawsuit against Bittrex, and the landmark MiCA European crypto framework became law.
17/04/2023 Data DebriefETH's Big Post-Shapella Rally
ETH hit 11-month highs following the Shapella upgrade despite expectations of significant sell pressure after more than 1mn staked ETH were withdrawn. BTC also soared past $30k for the first time since last June and is up more than 80% YTD.
11/04/2023 Data DebriefETH Markets Lag BTC Ahead of Upgrade
BTC hit $30k for the first time since June 2022. Also, peer-to-peer exchange Paxful announced that it would be suspending operations, U.S. job openings hit a two-year low, and the U.S. Treasury released a report on illicit finance risks in DeFi.