Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
727 documents
The article explains how leveraged perpetual futures positions can be liquidated when traders fail to meet maintenance margin requirements. It treats liquidation data as forced buy or sell order flow that may reveal short-term market pressure, and describes…
This market snapshot reviews several crypto themes: a sharp contraction in AI-agent token capitalization alongside rebounds in a few assets, relative strength in DeFAI, and a newly announced WLFI fund focused on major crypto assets. It also discusses…
This podcast recap discusses how AI agents may interact with crypto assets and decentralized applications, alongside a vision for regulated DeFi that connects conventional banking with self-custodied digital assets. The guest describes agents as systems that…
This market commentary reviews crypto volatility conditions and options positioning in September 2023. It notes subdued equity volatility and low realized volatility in crypto, while describing rising put-wing implied volatility for a near-term Bitcoin…
This beginner-oriented guide recommends planning trades in advance, researching assets before buying, and avoiding impulsive decisions driven by hype or fear of missing out. It advocates diversification across crypto assets, monitoring Bitcoin as a possible…
This weekly crypto market report assesses a recovery in prices by combining spot performance with trading volume, volatility, open interest, funding, order book depth, ETF flows, stablecoin issuance, and DeFi credit measures. It interprets rising prices…
This market snapshot reviews several digital-asset areas: centralized exchange share, spot price moves, futures long-short ratios, DeFi lending activity, and blockchain transaction patterns. It describes Binance losing exchange-volume share after regulatory…
This conference recap describes several developments in digital asset markets: valuing tokens against underlying revenue and rights, crypto-native venues affecting traditional markets, software agents transacting autonomously, and institutions connecting…
This market commentary connects Federal Reserve expectations and stablecoin policy news with volatility in crypto and crypto-linked equities. It focuses on Circle’s post-IPO shares, noting a sharp rise in implied volatility and short-dated call skew, then…
The recap compares Bitcoin and Ethereum options markets through realized and implied volatility, term structures, skew, and relative gamma pricing. It describes BTC shifting into contango as front-end implied volatility falls more sharply than longer-dated…
The article outlines ways decentralized finance and smart contracts could alter financial institutions beyond offering new digital asset exposure. It describes decentralized data storage as a possible way to reduce reliance on centralized data centers, and…
The article explains how an Ethereum contract can request off-chain data through Chainlink and use Amberdata as a source for market and blockchain information. It outlines the request lifecycle: fund the deployed contract with LINK, submit a request…
The article explains why investment managers entering digital assets need consolidated data on markets, liquidity, risk, and blockchain activity. Crypto trading is spread across global venues that operate continuously, with each venue using its own changing…
The newsletter assesses a sharp rise in Bitcoin volatility alongside macroeconomic catalysts and crypto market positioning. It uses options implied volatility and term-structure richness as indicators of stress, noting that a high backwardation reading has…
This weekly note reviews Bitcoin and Ether options conditions around March 5, 2023. It links falling spot prices to softening implied volatility, describes a contango term structure, and points to the largest roll-down between short dated maturities and the…
This midweek derivatives recap describes a subdued Bitcoin market and summarizes changes in implied and realized volatility, term structure, skew, options activity, and dealer gamma. It reports that Bitcoin’s realized volatility fell by about 10 points while…
The newsletter links weaker U.S. payroll data and expectations for Federal Reserve rate cuts with diverging moves in gold and crypto. It interprets low VIX readings, short VIX futures positioning, and differences between September and October VIX futures as…
The analysis compares Binance BTC/FDUSD order book behavior around six 2025 Federal Open Market Committee decisions: five rate holds and one cut. It tracks five-minute averages of volatility, bid-ask spread, depth, order book imbalance, and pressure…
The document explains how executed trades and resting orders provide different views of Bitcoin markets. Trade volume shows what has already happened, while order book depth aggregates buy and sell interest at unexecuted price levels. A depth chart gives a…
This podcast recap discusses institutional participation in crypto, the launch of U.S. spot Bitcoin ETFs, the more modest reception of Ethereum ETFs, and regulatory barriers to further products. It describes how financial advisers and smaller offices can…
Gamma exposure (GEX) describes how an option’s delta changes as the underlying asset moves. The document explains why this matters in crypto options: as delta shifts, market makers may adjust their hedges, creating flows that can affect volatility and…
This market recap describes a week of softer realized and implied volatility in Bitcoin and Ether options as spot prices drifted within recent ranges without a major macro catalyst. It notes that Bitcoin’s term structure shifted lower, especially at the…
This podcast recap explains BitMEX’s derivatives trading model through an interview with its CEO. It describes the platform as matching traders against one another rather than acting as the counterparty, then outlines a liquidation process supported by an…
This market update reviews spot exchange activity, Uniswap v3 pool volumes, DeFi lending, and Bitcoin network indicators. It highlights stablecoin-to-asset pools as a major source of Uniswap v3 trading volume, and proposes tracking new stablecoins’ pool…