Our Data Debrief and Deep Dive insights are published twice a week.


30/11/2023 Deep Dive

Who's the Winner After Binance's Settlement?

Another market overhang was removed last week as Binance settled with the DOJ. But who came out on top?

Written by Riyad Carey
  • FTX

    02/10/2023 Data Debrief

    Looking Back on FTX's Impact

    Bitcoin started Q4 on a positive note, hitting multi-month highs this morning after closing September in the green for the first time since 2016.

  • Liquidity

    28/09/2023 Deep Dive

    Q3 Token Liquidity Rankings

    We’re back with another edition of Kaiko Research’s quarterly liquidity ranking, this time enhanced with more metrics and expanded to the top 40 tokens. As mentioned in previous rankings, it’s our contention that market capitalization is a flawed metric, and a ranking of liquidity is more representative of a token’s true value. Let’s see how the tokens fared this quarter before breaking down the components that went into the ranking.

    Written by Riyad Carey
  • Ethereum

    25/09/2023 Data Debrief

    ETH, One Year Post-Merge.

    Bitcoin remained range-bound over the past week despite a hawkish Fed meeting that caused equity markets to shudder. Meanwhile, Mt Gox postponed its creditor repayment deadline, Balancer suffered yet another attack and Bybit announced it will suspend its UK services. This week we explore:

  • FTX

    18/09/2023 Data Debrief

    Will FTX Liquidations Trigger an Altcoin Crash?

    BTC made some early morning gains, crossing $27k for the first time since August 31. This capped a volatile week triggered by concerns around FTX’s altcoin liquidations. In other news, Deutsche Bank will offer crypto custody for institutional clients and the ECB hiked rates to an all-time high.This week we explore:

  • DEX

    14/09/2023 Deep Dive

    Beneath the Surface of Uniswap Pools: Just-in-Time Liquidity Revisited

    This week we take another look at justintime liquidity, a little-studied phenomenon that has generated $750bn in liquidity event volume on Uniswap V3 this year.

    Written by Riyad Carey
  • Liquidity

    11/09/2023 Data Debrief

    Liquidity Remains Flat Amid Low Volatility

    It was another low-volatility week for crypto markets, though plenty still happened. Visa expanded stablecoin settlement to Solana, the London Stock Exchange Group is exploring plans for a digital asset business, and three DeFi protocols were hit with CFTC enforcement actions.This week we explore:

  • Liquidity

    07/09/2023 Deep Dive

    The Crypto Liquidity Concentration Report.

    We are back this week with a brand new crypto liquidity analysis. Using trade volume and market depth, we find that the majority of liquidity is concentrated on just a handful of exchanges.

    Written by Clara Medalie
  • XRP

    04/09/2023 Data Debrief

    Bitcoin ETF Decision Ignites Volatility

    Markets pulled back after the SEC delayed a decision on several ETFs until October. In other news, Coinbase’s Base blockchain continues to see strong activity, the SEC settled with an NFT issuer, and a judge called ETH a commodity.

  • Stablecoin

    31/08/2023 Deep Dive

    Defining Depegs: A New Metric for Stablecoin Stability

    This week we present a novel method for measuring the severity of stablecoin depegs.

    Written by Riyad Carey
  • Memecoins

    28/08/2023 Data Debrief

    PEPE Plunges as Founders Sell

    Markets are flat with BTC and ETH still trading at 2-month lows. Last week, MasterCard and Visa announced they are stepping back from Binance card partnership, the IRS proposed new crypto tax rules, and the U.S. central bank Jackson Hole symposium failed to move markets.

  • Liquidity

    24/08/2023 Deep Dive

    Comparing Liquidity on Uniswap and Binance

    This week we’ll take our first in-depth look at Market Depth on CEXs and on Uniswap V3 with a comparative approach. We’ll mainly focus on liquidity distribution across prices and markets, aiming to enhance our understanding of liquidity dynamics and provide you with tools to harness the potential of CEX/DEX data. In today’s trading landscape with DEXes gaining market share, knowing which exchanges or pairs offer optimal trade execution is crucial. Kaiko’s depth data makes that possible.

  • Bitcoin

    21/08/2023 Data Debrief

    Top Trends of the Summer

    Volatility came back to life last week as BTC dropped 9% in under 24 hours, hitting its lowest level since June. Today’s Data Debrief is taking a broader view of the market, revisiting some of the key trends shaping the market this summer.

  • CEX

    18/08/2023 Deep Dive

    Where Has the Volatility Gone?

    This week we recap a slow summer, examining volatility, liquidity, and volumes.

    Written by Riyad Carey
  • Curve

    14/08/2023 Data Debrief

    Curve 3pool Sees $175m Outflows

    Last week, the U.S. SEC delayed its decision on the Ark 21Shares Bitcoin spot ETF application and said it will appeal the Ripple court ruling, Coinbase officially launched its Base Blockchain. The U.S. Fed added Hedera-based Dropp to its list of FedNow service providers.

  • Tether

    07/08/2023 Data Debrief

    Tether Imbalance on Curve Raises Questions

    The DeFi sector continues to reel from the Curve exploit, although more than 70% of funds have been returned. In non-exploit news, Coinbase exceeded analyst expectations with Q2 revenues, a wave of companies filed for ether ETFs, and Tether is now one of the largest Bitcoin holders.

  • Curve

    03/08/2023 Deep Dive

    Loans, Buy Walls, and OTC Deals: The Curve Finance Exploit

    Curve Finance is back as the center of attention in DeFi just a few weeks after CEO Michael Egorov’s large CRV-backed loans drew scrutiny. This time, however, the inciting incident was an exploit.

    Written by Riyad Carey

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