The first crypto long and short of 2021 have different formats: instead of general articles, I asked some top analysts – from Kaiko, Int the block, skew.com And Crypto in Arkansas – Share your favorite charts with you. The depth and quality of metrics available to market observers has jumped this year, and the work of these analysts and others will not only help investors better understand the crypto ecosystem, but also how to differentiate and appreciate the resources and their markets. Click on the links below to learn more about the work of these analysts and the data they provide.
Clara Medley, Business Development and Strategy Development Kaiko
The March market crash will go down to clear the cryptocurrency markets as the fastest and fastest sell-off ever in history. For an hour, BitcoinIts price is thousands of dollars and the liquidity of the order book all evaporates. This chart shows the sum of all bids and asks on the BTC-USD order book of Coinbase before and after the first price crash. We can observe that when the crash started around 10.30am, the volume of orders surrounding the midpress was reduced, forcing a liquidity crisis that perpetuated the steep fall in prices.
This chart is one of my favorites because it demonstrates the important role that market makers play in creating and maintaining liquidity in the cryptocurrency market. In the end, March Crush has proven that asset prices are often less reflective of “a true value at a given time through the process of market-based price discovery” and is another product of relentless response loops driven by automated liquidity and the depth of the decimated order book. As cryptocurrency markets mature and book liquidity orders, we can expect that such national prices will decrease in quantity and frequency.
Lucas Outumuro, Senior Analyst Int the block
Int the Block classifies on-chain transfers as more than ,000 100,000 in “larger transactions.” The overall volume of large transactions serves as a proxy for the transaction activities of institutional investors ‘and high-valued individuals’.
Institutional interest as well as the volume of large transactions for Bitcoin increased significantly in 2020. Comparing the average volume of large transactions in the Bitcoin blockchain compared to December 2020, we observe that it has doubled from an average of billion 1 billion to $ 30 billion per day.
Emmanuel Goh, CEO skew.com
In 2020, companies finally adopted Bitcoin but not always as expected. For example, sophisticated investors like hedge funds are looking at spread capture in view of the inefficiency of this national market. This has translated CME Bitcoin futures into leveraged fund positions, creating new record shorts on an almost weekly basis, especially in the last quarter of 2020.
Bendik Narahim Shai, head of the research department Crypto in Arkansas
The DFI sector saw moderate recourse in the first half of the year, with nding protocols dominating the space. At this point, the total value locked in DFI was relatively stable, ranging from $ 700 million to 1 1 billion for the most part. Then, on June 16, the compound introduced its administration token. Interest in the field then exploded (quite literally), with crop farming attracting many new participants into space.
- The total value locked in DFI increased from 70 670m to .5 14.5B in 2020, an increase of 2100%.
- By December, 1 million unique addresses were approved with DFI, an increase of 10x from January. Both nding platforms and decentralized exchanges (DXS) have seen particularly strong growth this year, while derivatives platforms have grown more moderately (albeit stronger).
2021 Forecast: As DFI derivatives platforms see further growth, centralized derivatives take traders to alternative markets with stricter regulation of the market.
Does anyone know what is still going on?
Instead of trying to recover annual or even weekly performances in macro markets (because many have done it in more depth and with more perspective), I will leave you with a great summary from the mouth of a particularly observant kid, when asked Here’s how he added 2020:
“That’s what happens when you want to cross the road, and you look carefully right and then left and then you run with the submarine.”
But I will share with you our general chart of relative performance, because, well …
For an insightful rundown Development of the Bitcoin market in 2020, See my colleague Pieces of Bradley Kevin.
Anthony Scaramucci Skybridge is the capital Already invested 2 182 million in Bitcoin. Exceed: The Bitcoin Fund brochure lists increasing acceptance, low risk, low interest rates, and “unprecedented money printing” as the main reasons for Bitcoin’s growing respect. A quote from the brochure: “Bitcoin is digital gold. Better a poor horse than no horse at all.
Black rock Is Trying to rent A vice president to help create demand for the company’s crypto-related offers. Exceed: Gacha here is Blackrock Crypto is planning products! This will certainly signal the acceptance of mainstream institutional acceptance – it is unlikely that BlackRock will take this step unless it already sees some demand.
Director of the fund Vanek There is Submitted an application To the US Securities and Exchange Commission (SEC) for Bitcoin exchange-trade funds. Exceed: Venek has withdrawn the most recent application of September 2019, before and with failure, the ETF proposed. This latest effort indicates that the firm believes that the environment is more favorable now than in the recent past, and we will see other ETF managers submit more proposals in the coming months.
Earlier this week, Chicago Mercantile Exchange (CME) In short it was the largest bitcoin futures exchange By open interest, which reached 1.66 billion. Exceed: This, in my view, is the clearest sign that institutional interest in Bitcoin is growing. At the beginning of 2020, CME Bitcoin Future Open Interest was in fifth place, behind Bitmax, OKX and Hubby. The daily volumes on CME’s Bitcoin futures, however, are better than the Asian parts of the exchange, which means less trading and more strategic positioning of crypto derivatives exchanges outside the United States.
Gazpromneft, Russia’s natural gas giant Gazprom has oil subsidiaries A venue has been opened for cryptocurrency mining Siberia is an oil drilling site Exceed: There are so many pieces to be drawn here: 1) oil and gas producers see cryptocurrency mining as a source of diversity; 2) the geographical spread of crypto mining activity; 3) Gazprom a State-owned Involvement in cryptocurrency mining (albeit indirectly).
Canadian Augmented Reality (AR) Agency NEXTECH AR (NTAR) plans Use its treasury funds Buy ল 2 million bitcoin for “capital diversification”. Exceed: This is not a big bet like Microstructure (MSTR) Made this year, Since this amount is only 15% of the cash received at the end of Q3. The firm’s CEO said he sees Bitcoin as a long-term appreciation prospect rather than just keeping cash. We will probably see more such announcements in the coming months.
National Football League player Russell Okung Willpower Get half of his 13 13 million annual salary in Bitcoin, Via the crypto startup Zap, whose strike product enables converting conventional paychecks into bitcoin. Exceed: Aside from the high-spread publicity it gives Bitcoin (and we’ll probably see a few more athletes make crypto-related announcements in the next few months), it’s also a sign of increasing breadth of products for the market outside the company. According to Zap’s CEO, Strike can now be used as a checking account through a partnership between two named banks. What’s more, Okung’s lawyer for Bitcoin is not news – he introduced Bitcoin Projects that write and host meetups about cryptocurrency – so we can expect to see more bad-spirited public comments next year.
For those of us working in the industry, it is interesting to see the failure of Bitcoin and the number of imminent deaths. Website 99bitcoins.com Tracked Bitcoin “Level,” And now it shows Disguises are raising flags. Exceed: This is understandable since Bitcoin has had a few winters and market fluctuations. This, too, is unfortunate, since the neglected benefit of criticism is that it forces us to improve our interpretations. There is still much to learn; However, it seems that there is more career risk now in eliminating Bitcoin than advising clients to invest.
Ripple Suite: List of excluded crypto platforms XRP The suit continues to grow in the light of the SEC, with Coinbase, Benson USA, Genesis, Okecoin, Crypto.com And Etiro USA Joining the post. This week, as a Coinbase client, brings a twist to the story Bring case against Exchange of knowingly selling XRP by pocketing the commission as unregistered protection.