คลังความรู้

A discussion of research on digital asset managers and hedge funds describes growing institutional interest in crypto, including dedicated strategies, senior staffing, and plans to develop trading approaches and investment products. The report summary notes…

This weekly market review describes how a rally in Bitcoin and Ether affected realized and implied volatility, option skew, term structure, trading flows, and dealer gamma. It reports that volatility rose with spot prices, call premiums deepened—especially…

The article summarizes research comparing cryptocurrency data providers and argues that raw data gains value from the context and presentation built around it. It distinguishes on-chain and off-chain sources, and describes how providers may differentiate…

The article explains how tokenization can represent fractional claims on real-world assets such as real estate, commodities, collectibles, private credit, equities, and intellectual property. A custodian or other trusted entity holds the underlying asset…

The document outlines ways institutional investors can use blockchain data to study digital asset activity. Aggregated wallet balances, transactions, network fundamentals, and cross-chain flows can help teams monitor portfolio exposure, protocol adoption,…

This market recap compares realized and implied volatility in Bitcoin and Ethereum options, then reviews changes in their volatility term structures. It describes a negative variance risk premium in both assets, with realized volatility above implied…

The commentary assesses a Bitcoin breakout alongside crypto options positioning and volatility, while contrasting Ethereum’s weaker price action. It links Bitcoin’s strength to a possible safe-haven narrative and reports that spot had moved above a long-term…

This options-market newsletter reviews a strong week for Bitcoin and Ethereum amid hotter-than-expected inflation data, higher rates, and rising volatility in equity volatility products. It argues that Ethereum could attract attention as traders look for a…

This market recap summarizes several conditions in Bitcoin and Ether derivatives as of February 15, 2023. It reports that realized volatility continued to ease and that term structures were flattening after being in contango. It also describes Bitcoin…

This market commentary links the inflation outlook and Federal Reserve communications to crypto sentiment, then focuses on Bitcoin positioning ahead of the April 2024 halving. It notes the reported PCE and core PCE readings, upcoming employment data, strong…

The article introduces OKX Nitro Spreads as a way to trade the price difference between futures and perpetual swap contracts through a single instrument. It describes spread trading as useful for hedging exposure or responding to price differences, with the…

The document presents the DVol Index as a way to track how rapidly implied volatility changes, using those fluctuations as a proxy for changing market stress. It describes an index endpoint that also reports a 30-day rolling volatility measure calculated…

The newsletter links crypto markets to broader risk assets and discusses how macroeconomic uncertainty, Federal Reserve messaging, tariff concerns, and upcoming data releases may affect prices. It interprets falling VIX and VVIX as evidence that near-term…

The document argues that combining blockchain activity data with options and volatility data may help traders identify crypto opportunities and build hedges. It describes comparing on-chain transaction flows with realized volatility, as well as examining…

The article surveys ways decentralized finance represents familiar financial products on blockchains. It describes lending pools where suppliers earn variable interest and borrowers post crypto collateral, often in excess of the loan value. Smart contracts…

The document introduces two historical option volatility views for a selected expiration. The strike view plots implied volatility curves over time against strike, while the delta view plots them against delta. These views let analysts examine how the…

This document introduces a measure called term-structure richness for describing the relative level of contango or backwardation in an options volatility curve. A value of 1.00 represents a flat curve under the provider’s measurement method; readings on…

The document describes Amberdata joining Pyth as a first-party publisher of real-time cryptocurrency prices. Pyth is presented as an oracle network that brings off-chain market data onto blockchains for decentralized applications, initially on Solana. The…

This mid-week market recap summarizes conditions in Bitcoin and Ether derivatives as of December 14, 2022. It highlights tight trading ranges and realized volatility remaining firm near its lows. Bitcoin’s options term structure is described as being in…

This market snapshot examines BTC and ETH options and derivatives alongside macroeconomic conditions. It describes implied volatility and realized volatility as unusually compressed, while volatility risk premium readings remain elevated. Put skew is…

This market snapshot surveys digital-asset developments around geopolitical attacks, U.S. stablecoin legislation, macroeconomic pressure, an Ethereum chart pattern, and a DeFi exploit. Its market analysis interprets Bitcoin ETF creations and redemptions as…

This weekly market commentary reviews BTC and ETH options conditions during a period of falling realized and implied volatility alongside weaker spot prices. It discusses changes in volatility term structures, put and call skew, relative volatility between…

The newsletter reviews a week in which Bitcoin rose 8% after briefly falling below $100,000 amid geopolitical headlines. It connects the rebound to falling crude prices and stronger performance in higher beta crypto assets, while noting that Bitcoin’s year…

This derivatives newsletter reviews Bitcoin and Ether price and options behavior around a sequence of SEC-related events, ETF approval, and the start of ETF trading in January 2024. It describes a muted immediate spot response to a false approval report, a…