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Insights.
Our Data Debrief and Deep Dive insights are published twice a week and you can subscribe to them here.
Hyperliquid
09/03/2026 Data Debrief
Bitcoin Ranges While Traditional Assets Find New Home on Crypto RailsAs Bitcoin ranges between $60k and $72k following the early February sell-off, the crypto market navigates competing forces, with geopolitical shocks testing 24/7 infrastructure and options markets pricing elevated volatility into...
Ethereum
02/03/2026 Data Debrief
The Pressure of Dilution on Layer 1 ValuationsAs Layer 1 tokens are increasingly traded through ETFs and evaluated like equity investments, the ma...
Written by Laurens Fraussen
Ethereum
23/02/2026 Data Debrief
Staking Products Launch Despite Treasury FailuresAs crypto volatility continues, the markets are testing whether institutional ETH adoption follows p...
Written by Laurens Fraussen
Binance
03/04/2023 Data Debrief
Binance Market Share Tumbles 16%Bitcoin closed the week slightly up despite a major CFTC lawsuit against Binance and news that the U.S. government had sold 9,861 BTC connected to Silk Road (with plans to sell more).
Written by The Kaiko Research Team
Binance
30/03/2023 Deep Dive
CFTC v. Binance: The Data Behind the SuitThe centralized exchange space has experienced two major shocks in the past two weeks, first with Binance ending zero-fee trading for most BTC pairs, then with the CFTC alleging Binance has violated U.S. federal laws.
Written by Riyad Carey
CEX
27/03/2023 Data Debrief
Binance Volume Plummets After End of Zero-Fee TradingBitcoin continues to trade at 9-month highs after the Fed hiked rates by a quarter percentage point, suggesting increases are nearing an end. Crypto markets largely ignored news that Coinbase was served a Wells notice, the SEC charged Justin Sun with market manipulation, and Sushi received a subpoena from the SEC.
Written by The Kaiko Research Team
Liquidity
23/03/2023 Deep Dive
The State of Liquidity in Crypto MarketsLiquidity is all the talk in financial markets at present, and crypto has seen its fair share of liquidity incidents this month. We explore market depth, spreads, slippage and volumes to bring you up to date with all things crypto liquidity.
Written by Conor Ryder, CFA
CEX
20/03/2023 Data Debrief
Trade Volume Soars As BTC Crosses 28kBitcoin is on an absolute tear, currently trading at 9-month highs and up 30% in the past seven days. The rally kicked off after the USDC turmoil subsided, and continued throughout the week despite ongoing stress in the banking sector and uncertainty around this week’s Fed meeting.
Written by The Kaiko Research Team
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 Carey
Stablecoin
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 Team
Liquidity
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, CFA
CEX
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 Team
Curve
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 Carey
Liquidity
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, CFA
DeFi
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 Team
Liquidity
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