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Our Data Debrief and Deep Dive insights are published twice a week and you can subscribe to them here.

Bitcoin
07/10/2025 Data Debrief
Is Wall Street Driving BTC Prices?BTC crossed $125k for the first time over the weekend as markets rose across the board last week. Following BTC’s latest record run, we’re exploring BTC’s price drivers and price discovery mechanisms. In particular, we look at the...
Bitcoin
30/09/2025 Data Debrief
Why IBIT Options Traders Paid a Premium for ProtectionToday we’re looking at how risk is measured in crypto, by comparing both traditional and native mark...
Written by Adam Morgan McCarthyIndices
22/09/2025 Data Debrief
Not Just Bitcoin: Baskets Show The Wider Market StoryAs we approach the end of the third quarter, we’re casting an eye over the broader market and which ...
Written by Adam Morgan McCarthy
DeFi
16/03/2023 Deep Dive
USDC's Depeg or: How I Learned to Stop Worrying and Trust the BotsWhat happened with USDC?
Written by Riyad CareyStablecoin
13/03/2023 Data Debrief
The Aftermath: What Happened to USDCToday, the Kaiko Research team presents a post-mortem of the mass chaos crypto markets experienced amid SVB’s collapse.
Written by The Kaiko Research TeamLiquidity
09/03/2023 Deep Dive
The Scramble for Silvergate AlternativesLast night, Silvergate decided to voluntarily liquidate, leaving the crypto industry scrambling for banking alternatives. Today, we explore the implications of Silvergate’s collapse on cryptocurrency markets and the viability of alternative fiat on-ramps for institutions and exchanges.
Written by Conor Ryder, CFACEX
06/03/2023 Data Debrief
The Future of Fiat On-RampsMarkets are steady to start the week after a volatile Friday in reaction to the closure of SEN, Silvergate’s instant payment network.
Written by The Kaiko Research TeamCurve
02/03/2023 Deep Dive
Whales vs. Retail: Who's Using Curve?This week we explore a pillar of the DeFi ecosystem: Curve Finance.
Written by Riyad CareyLiquidity
23/02/2023 Deep Dive
A Crypto Friendly Asia: What It Will Mean For MarketsThis week, reports emerged that Hong Kong could soon enable retail investors to trade certain cryptocurrencies. Will Asia lead the next bull run as US regulators continue to clamp down? What will this mean for Asia-based crypto projects and exchanges? How do indices play a role? We dive into the narrative and explore its ramifications.
Written by Conor Ryder, CFADeFi
20/02/2023 Data Debrief
BLUR’s Big DebutCrypto markets continued to soar despite another week packed with regulatory punches. Last week, the SEC formally charged Terra founder Do Kwon, alleging a “multi-billion dollar fraud” against investors in the UST stablecoin and LUNA.
Written by The Kaiko Research TeamLiquidity
09/02/2023 Deep Dive
How to Spot Artificial VolumeOften times investors are left scratching their heads when they see a small exchange high up the volume ranking on certain websites. The assumption is that some, or a significant amount of these volumes figures are artificially inflated by wash-trading on that exchange. This week, we present a framework that can be used to spot cases of wash-trading, pointing out potential examples of our own on the way.
Written by Conor Ryder, CFA
