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Has Inflation Peaked?
...a pivotal moment in the Fed’s fight versus inflation....Concerns over services inflation and a potential wage-price spiral are a threat to the peak inflation...Has Inflation Peaked?...From a historical perspective, inflation peaks when the Fed has driven interest rates above the YoY inflation...
10 Min
Macro & Markets
Aug 2022
Bitcoin Is Not An Inflation Hedge
Inflation is Eating the World Inflation....Bitcoin is Not an Inflation Hedge It’s easy to point fingers in hindsight....There’s an important difference between inflation (as is commonly measured by indicators like CPI) and...At the time, many were still holding onto the narrative that BTC was an inflation hedge, even as CPI...
9 Min
Macro & Markets
Jul 2022
Monthly Chartbook - Inflation Cooperates, But Is It Enough?
Powell reaffirmed his stance once again, stating the committee’s desire to curb inflation at seemingly...
20 Min
Macro & Markets
Nov 2022
Chad Rallies, Inflation, & The Policymakers Conundrum
...see their developer update) To summarize, Axie is nixing daily quest and PVE rewards to combat SLP inflation...Inflation Risk – Damned If You Do, Damned If You Don’t While some may argue crypto operates independent...Real yields have continued to rise (driven by higher nominal yields and stagnant inflation expectations...
11 Min
Macro & Markets
Feb 2022
BTC Production Cost, Bitcoin as Inflation Hedge, and Fuel Deep Dive
Bitcoin Is Not An Inflation Hedge [Excerpt from a Delphi Insights report] It’s easy to point fingers...There’s an important difference between inflation (as is commonly measured by indicators like CPI) and...At the time, many were still holding onto the narrative that BTC was an inflation hedge, even as CPI...
6 Min
Infrastructure
Jul 2022
Best Antidote for Inflation is Recession
“[Inflation] has proven darn near impossible to beat without significant economic weakness.”...we raised in our Markets Year Ahead report: “Unfortunately, the best antidote for stubbornly high inflation...is a recession, and the Fed knows that…The Fed’s credibility rests on its ability to rein in inflation...
1 Min
Macro & Markets
Feb 2023
Do Airdrops Hurt More Than They Help?
...metrics shared above can help make more informed decisions before buying into tokens for projects with inflated...metrics and even more inflated valuations....Token airdrops often lead to inflated activity pre-snapshot and declines post-distribution.
25 Min
DeFi
Jul 2024
ETH Breaks Out, Benefits Big From NFT Craze
ETH Inflation Rate Craters Before EIP-1559 was implemented on Aug. 5, ETH’s annualized daily inflation...Ether’s inflation rate has trended down sharply since and averages an annualized emission rate of 1%...Yesterday’s data revealed sub 1% inflation rates, hovering around 0.6% annual inflation.
3 Min
Infrastructure
Sep 2021
The Great Decoupling: Perception vs. Reality
The skeptic’s view that bitcoin – and crypto assets at large – is a poor hedge against inflation, focuses...So they’re right in some sense that crypto assets are not a hedge against inflation – they’re hedges...of what the committee will need to see before we are confident that inflation is moving down.”...These are the unfortunate costs of reducing inflation.”...
11 Min
Global Macro Themes
Aug 2022
With The Merge In The Rear View, What's Next?
Another warning sign appeared in rental inflation and services, as both accelerated to posting their...An area where many were expecting to see substantial declines in inflation was used vehicles....Again, defying market expectations, used vehicle inflation barely edged lower at all....In the past, we have mentioned that high inflation tends to be sticky.
10 Min
Macro & Markets
Sep 2022
Out of The Frying Pan, Not Out of The Fire
...economist forecasts (we discussed the implications of this in last week’s report, “Bitcoin Is Not An Inflation...The Bank of Japan raised its inflation forecast but maintained ultra-low interest rates despite the yen...Weekly Market Musings Inflation concerns have transitioned to growth fears as tighter conditions continue...
11 Min
Macro & Markets
Jul 2022
Liquidity Runs The World
...will be forced to abandon their tighter policy regimes, but until something breaks – whether it be inflation...inflation needs to be brought under control ASAP....The Fed is trying to engineer a soft landing, where inflation cools but growth remains moderate....If extreme headline inflation prints persist for the next few months, it’s going to be difficult for...
23 Min
Global Macro Themes
Aug 2022
Revenge Of The Greenback
...been one of the most important macro factors driving asset prices over the last 6 months, alongside inflation...Further weakening economic data such as GDP contractions and continued hot inflation prints have added...a simple, yet great illustration showing the relationship between the Fed’s major concern of rising inflation...
8 Min
Macro & Markets
May 2022
Frax Finance: Examining The Protocol’s Holy Trinity of De-Fi
FPI Stablecoin/FPIS FPI (Frax Price Index) is a token pegged to real inflation measured by the 12-month...inflation rate reported by the US Federal Government....ratio at all times, which means that the collateral backing it must minimally grow at the rate of CPI inflation...
11 Min
Algorithmic Stablecoins
Feb 2023
Monthly Chartbook - Wishful Thinking
January’s cross-asset bullishness started to look premature as supply chains and inflation unexpectedly...This abrupt ~vibe shift~ has confounded investors who for months were calling for falling inflation and...However, the Fed’s preferred inflation gauge, the PCE, is telling a different story.
19 Min
NFTs
Mar 2023
The Policymaker Conundrum (Oct. '21 Chartbook, Part II)
Inflation Debate Dominates Macro Circles Inflation, inflation, inflation....So inflation is picking up and it looks like it’s going to be quite sticky, at least for the short to...Notably, Google search trends for “inflation” in the U.S. recently hit their highest level since 2013...
10 Min
Infrastructure
Nov 2021
Deleveraging, Volatility, & Mixed Market Signals
Inflation Debate Rages as King Dollar Sends Warning Signs In times like these, the only certainty is...The latter doesn’t appear to be playing out yet with inflation expectations taking off in recent weeks...The market doesn’t appear too concerned over the threat rising inflation poses either, at least in the...
17 Min
Spot Exchange
Nov 2021
Option Skews, Ribbon's Divergence, & Transactional Traction
(@bertcmiller) December 15, 2021 Global inflation is on the move Inflation has increased globally over...the past year. https://blog.kaiko.com/crypto-markets-falter-as-inflation-surges-e7c12e0abd29 —unfolded...
3 Min
DeFi
Dec 2021
Tribe DAO Liquid Governance, Adult NSFW DAO Takes on OnlyFans
Pocket Network is running two proposals related to their WAGMI inflation....PUP-11: This proposal presents a sustainable inflation schedule for the Pocket Network token....If passed, this proposal would replace the existing inflation schedule with one that reduces emitted...This proposal initially targets an inflation rate of 100%, but declines to 50% in 150 days.
10 Min
DAO
Feb 2022
Pocket Network: The Decentralized Marketplace for Blockchain Connectivity
This caused the token supply to inflate in proportion to demand, which forms the basis for the figures...Meanwhile, the inflation’s impact on the circulating supply was countered by the increased demand to...While total supply has inflated, total circulating supply (unstaked tokens) has deflated and decreased...
27 Min
Layer 1 / L1
Mar 2022