คลังความรู้

This market recap describes how a sharp Bitcoin and Ether sell-off affected realized and implied volatility, term structure, option skew, trading flows, and dealer gamma. Short-dated put demand pushed weekly skew into put premium, while longer-dated skew…

This research summary argues that factor returns can vary nonlinearly and across groups of stocks, so a single linear factor relationship may miss meaningful differences. It contrasts direct nonlinear transformations, which can be hard to justify…

The document compares free and paid crypto options scanners for professional trading teams. It explains that scanners consolidate activity across exchanges and that richer tools can report net volume and positioning, delta-based butterfly measures, block and…

The article argues that institutional digital-asset activity depends on reliable custody, transparent market data, and timely transaction records. It describes how order books, trade histories, and snapshots from centralized and on-chain venues can support…

The article investigates an unusual spike in Ethereum gas prices detected while monitoring recent blockchain activity. The authors describe checking their query results, examining a short time window, and filtering for transactions above an exceptionally…

This market commentary argues that implied volatility in crypto options appears low relative to an uncertain macroeconomic backdrop. It points to volatility measures and charts for Bitcoin, Ether, Solana, bonds, equities, and precious metals, describing a…

The article proposes a Chinese equity screen combining amplitude above one, a ranking by net large-order volume, and at least two limit-up events within a 500-day window. It presents volatility as a source of short-term trading opportunities, large-order…

This article proposes combining two options data sources to investigate large-trader activity. Block-volume data summarizes large options trades by instrument, exchange, and underlying asset; decorated-trade data adds trade timing and level-one order-book…

This dated market review examines Bitcoin and Ethereum options activity around Ethereum’s Shapella upgrade in April 2023. It discusses realized versus implied volatility, volatility risk premium, term-structure shifts, call-put skew, and reported block…

The article outlines a framework for assessing crypto projects before investment. It recommends reviewing a protocol’s technical documentation, team experience, development roadmap, and progress against milestones. It also calls for analysis of token supply…

This report surveys crypto spot and derivatives activity amid exchange security incidents, regulatory changes, and macroeconomic volatility in early 2025. It discusses exchange trading volumes, futures and perpetual contract activity, funding rates,…

This market commentary links the week’s U.S. data calendar to expected crypto volatility, focusing on the Federal Reserve Beige Book, PCE inflation, and a scheduled FOMC meeting. It argues that PCE is the most likely near-term volatility catalyst, while the…

The code implements a heat-potential method for choosing profit-taking and stop-loss boundaries for a profit-and-loss process modeled as Ornstein–Uhlenbeck mean reversion. Given the model parameters, a time-step density, and a maximum holding duration, it…

This market snapshot interprets a sharp crypto selloff using spot prices and volume alongside derivatives positioning, exchange traded fund flows, stablecoin supply, order book depth, and spreads. It frames falling open interest and negative funding as…

The article describes real yield as a DeFi liquidity incentive that distributes protocol revenue to token holders or stakers. It contrasts revenue-based payouts with rewards funded by issuing new tokens, which can dilute holders. The model is compared with…

The indicator presents volume relative to its average over a selected period, expressing the deviation as a percentage. This makes below-average activity visible as negative readings and above-average activity visible as positive readings. The displayed…

The newsletter argues that Solana options may offer relatively attractive upside volatility compared with Ethereum. It compares their recent implied pricing with historical realized volatility, including the relative level of 30-day realized volatility and…

This market outlook argues for bullish crypto exposure alongside short volatility, based on the author’s view that risk appetite may improve, recent volatility has eased, and Bitcoin options term structure may return to steeper contango. It notes that spot…

This podcast recap links a rebound in crypto option activity during Bitcoin’s rally to optimism about possible ETF approval. It also describes large Ethereum overwrite positions, changes to Deribit margin requirements intended to address their risk, and…

This market commentary examines Bitcoin options pricing ahead of a US spot ETF decision, alongside Federal Reserve expectations and upcoming inflation data. It describes a term structure with elevated implied volatility relative to realized volatility and…

The document explains liquid restaking as a pooled way to commit ETH or liquid staking tokens to additional services while receiving a liquid restaking token representing the underlying assets and rewards. It outlines the roles of depositors, protocol…

This interview discusses the infrastructure needs of institutions and developers managing digital-asset private keys. The guest describes how programmatic products require support for multiple users, permissions, security controls, and high transaction…

This report reviews major cryptocurrency thefts in 2025, comparing centralized exchange, decentralized finance, and decentralized exchange incidents. It attributes the largest loss to the Bybit attack and describes private key compromise as a recurring…

This market snapshot reviews digital asset activity around Thailand’s approval of its first spot Bitcoin ETF, which is restricted to institutional investors. It describes centralized exchange spot volumes settling after a March surge associated with…