Now Available: Q3 2024 Crypto Market Research Report
Insights.
Our Data Debrief and Deep Dive insights are published twice a week and you can subscribe to them here.
21/10/2024 Data Debrief
Why is ETH still lagging behind BTC?Bitcoin gained more than 5% last week despite Tesla moving $765 million of its BTC holdings to an unknown wallet. Meanwhile, DeFi protocol Radiant Capital halted lending after $50mn exploit, Singapore’s largest bank introduced tok...
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17/10/2024 Deep Dive
Data Reveals Wash Trading on Crypto MarketsThis week, we’re looking at wash trading on cryptocurrency exchanges, focusing on the FBI’s recent i...
Written by Anastasia Melachrinos -
14/10/2024 Data Debrief
MiCA is Reshaping EUR Stablecoin MarketsLast week saw significant regulatory developments in the cryptocurrency space. The U.S. Securities a...
Written by The Kaiko Research Team
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29/05/2023 Data Debrief
72% of ETH liquidity is concentrated on 5 exchangesBitcoin 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.
Written by The Kaiko Research Team -
25/05/2023 Deep Dive
LDO's Shifting Market Structure: Unveiling Market MetricsThis week we are excited to reveal Kaiko’s brand new Asset Metrics product, which aggregates liquidity and volumes for all assets across all exchanges. Using LDO as a case study, we’ll show how this product is a game changer for understanding a crypto asset’s market structure.
Written by Riyad Carey -
22/05/2023 Data Debrief
Why 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:
Written by The Kaiko Research Team -
18/05/2023 Deep Dive
Stablecoins: Does Trust Really Matter?After the events of 2023, Tether has become the dominant stablecoin, despite being the least trusted. In this week’s Deep Dive, we explore whether this is evidence that trust is a lower priority for crypto investors, who seem to prefer peg stability, liquidity and versatility more.
Written by Conor Ryder, CFA -
15/05/2023 Data Debrief
Market Makers Continue to Reduce LiquidityBTC 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.
Written by The Kaiko Research Team -
11/05/2023 Deep Dive
TriCrypto: Curve's Ace in the HoleThis week we examine an upcoming change to Curve that has gone relatively unnoticed: its new TriCrypto pool.
Written by Riyad Carey -
09/05/2023 Data Debrief
Binance halts withdrawals as BTC fees surgeBitcoin 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.
Written by The Kaiko Research Team -
04/05/2023 Deep Dive
The State of Crypto DerivativesThis week we’ll provide an update on all things crypto derivatives and look at how perpetual futures are increasingly driving price action in markets.
Written by Conor Ryder, CFA -
02/05/2023 Data Debrief
TUSD Depegs Amidst Heavy BorrowingThis 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.
Written by The Kaiko Research Team -
27/04/2023 Deep Dive
Leveraging LSDs: The Next Era of Lending and BorrowingThis week we’ll cover the evolution of top lending and borrowing protocols, Aave and Compound, as they battle for market share.
Written by Riyad Carey -
24/04/2023 Data Debrief
Coinbase Targets Offshore Amid Falling VolumesA 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.
Written by The Kaiko Research Team -
20/04/2023 Deep Dive
The Binance EffectThis week, we explore how Binance influences global patterns in trade volume in light of their reintroduction of fees on most BTC pairs, aside from TUSD which is now the largest stablecoin by BTC volume on Binance.
Written by Conor Ryder, CFA -
17/04/2023 Data Debrief
ETH's Big Post-Shapella RallyETH 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.
Written by The Kaiko Research Team -
13/04/2023 Deep Dive
Lifting the Veil on Centralized ExchangesThis week we present a case study exploring how centralized exchange data can be used for powerful analysis, despite its anonymity.
Written by Riyad Carey -
11/04/2023 Data Debrief
ETH Markets Lag BTC Ahead of UpgradeBTC 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.
Written by The Kaiko Research Team -
06/04/2023 Deep Dive
Q1 Liquidity Ranking For Crypto AssetsThis week we are providing a Q1 update to our Liquidity Ranking Model for Crypto Assets, highlighting the winners and losers along the way.
Written by Conor Ryder, CFA