คลังความรู้

This report examines a period of subdued crypto prices and volatility through several market indicators: implied volatility, perpetual futures funding, long-short positioning, spot volume, and open interest. It compares Bitcoin volatility with measures for…

This dashboard description covers tokenized gold, silver, and platinum on Ethereum, alongside stablecoins. It outlines how to track token issuance, circulating supply, market capitalization, transfers, distinct senders and receivers, velocity, and holders.…

This market commentary connects macro events and crypto derivatives positioning with a bullish view on Bitcoin and possible catalysts for Ether. It discusses implied and realized volatility, options open interest and skew, futures basis, and perpetual…

This August 2023 overview surveys institutional activity in digital assets, including proposed U.S. regulatory frameworks, PayPal’s launch of a dollar-backed stablecoin, and pending spot Bitcoin ETF applications. It explains that institutions’ growing…

This report summarizes an institutional panel discussion about blockchain and digital assets. The speakers describe tokenization as a way to create potential liquidity and new exchange venues for assets that are difficult to sell, while smart contracts could…

The article introduces three areas of decentralized finance beyond lending: staking, asset management, and insurance. It explains how proof-of-stake networks reward validators for locking tokens, how delegation can let smaller holders participate, and how…

This feature note describes box plots for at-the-money implied volatility across constant-maturity points on an options term structure. It identifies the 25th, 50th, and 75th percentiles, along with lower and upper fences calculated as the first quartile…

The article explains how stablecoins seek to hold a reference value and distinguishes supply-adjusting algorithmic designs from coins backed by fiat, commodities, or crypto assets. It describes several routes to a depeg: insufficient or illiquid reserves,…

This podcast recap summarizes an interview with Dakota’s founder about stablecoins, tokenized real-world assets, institutional adoption, and crypto-oriented business banking. It presents stablecoins as a potential way for fintech firms and businesses to move…

The document explains how stablecoins can diverge from their dollar targets and how gaps between USDC and USDT may create spot trading opportunities. It compares reserve-backed and algorithmic peg mechanisms, then describes buying a discounted stablecoin…

Amberdata announced benchmark reference rates for digital assets, describing a methodology that considers trading volume and price dispersion across major markets. The rates are offered hourly and daily across several regional market windows. At the time of…

This article recounts BitMEX’s development and describes exchange mechanics relevant to crypto derivatives traders. It discusses perpetual swaps and their funding mechanism, liquidation when maintenance margin is insufficient, and an insurance fund intended…

This midweek market recap reviews BTC and ETH options through realized volatility, implied volatility carry, term structure, skew, option flows, and dealer gamma positioning. It reports BTC realized volatility in the mid to high 40s and ETH in the low 50s,…

This article presents forecasts for wider cryptocurrency use and argues that institutional participation could expand alongside retail adoption. It cites research projecting that crypto users could reach one billion by 2030, alongside a separate estimate…

This market snapshot links crypto weakness to recession concerns, higher Treasury yields, a cautious Federal Reserve, and reported liquidations. It reviews Bitcoin and Ethereum ETF flows, exchange trading volumes, and open interest as indicators of investor…

This dated market recap summarizes observations about Bitcoin and Ether options markets for the week of November 30, 2022. It reports that realized volatility continued to decline, the term structure was moving back toward contango, and short-dated skew fell…

The document explains how crypto perpetual futures differ from dated futures. Perpetual contracts have no expiry or rollover, so exchanges use funding payments between long and short holders to encourage the futures price to track spot. When the contract…

This market commentary links a hotter-than-expected inflation reading and weak Treasury auction demand to reduced expectations for near-term rate cuts, pressure on bonds, and higher geopolitical risk around Iran. It reports a sharp risk-off move in…

This market commentary reviews Bitcoin, Ether, and other crypto assets after a hawkish Federal Reserve decision. It connects the cross-market decline to higher inflation expectations and fewer anticipated rate cuts, then discusses how falling spot prices…

This tutorial outlines a workflow for analyzing daily cryptocurrency market data with Python and a notebook. It retrieves historical OHLCV data for selected USD pairs on Coinbase Pro, narrows the universe to liquid assets, checks and plots the data, and…

This weekly commentary reviews crypto options markets amid uncertainty following the FTX collapse. It discusses implied volatility, realized volatility, the term structure, and BTC risk reversal skew, arguing that downside puts remained in demand while the…

This mid-week market recap summarizes several observations about Bitcoin and Ether options as of January 31, 2023. It reports that recent large price swings kept 10-day realized volatility from declining sharply, while Bitcoin’s term structure remained…

This weekly crypto market report examines a Bitcoin-led selloff through prices, volatility, trading volume, derivatives positioning, ETF and stablecoin flows, orderbook liquidity, and DeFi activity. It describes falling open interest alongside price weakness…

This market commentary reviews early 2025 conditions across Bitcoin, Ethereum, and Solana. It links macro events and labor data to volatility expectations, and describes Bitcoin positioning around the $100,000 strike, including dealer short gamma and demand…