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Bitcoin vs. Stocks: The Great Decoupling
Stocks: The Great Decoupling I know, I know....Historically, BTC and stocks have maintained a fluid relationship; sometimes they move inversely to one...Meanwhile, the correlation between BTC and stocks has been strong in recent weeks as expectations for...On the flip side, if stocks are able to maintain their current uptrend and continue to push towards new...
4 Min
DeFi
Jul 2020
Infrastructure
Jul 2019
Exchange Tokens: Features and Value Accrual
Centralized cryptocurrency exchange (“CEX”) tokens have seen a stellar run up year to date, with BNB...In this report, we will be studying the utility of exchange tokens across a number of centralized (CEX...) and decentralized (DEX) exchanges, as well as the cashflow accrual mechanism to token holders.
6 Min
Data
Apr 2021
Vega: The Most Comprehensive On-Chain Exchange
Every attempt to build a decentralized exchange has been focused on a single market type....On centralized exchanges, either the exchange or a project actively solicits market making firms to provide...As a decentralized exchange, Vega will not engage in this....It’s an obvious problem for decentralized exchanges.
21 Min
Perpetual Futures
Feb 2022
Stocks Begin to Stall as Gold Starts to Glimmer
Weekly Market Commentary - April 15th, 2020 Stocks Begin to Stall as Gold Starts to Glimmer Bitcoin...The recovery in stocks has been more technical than fundamental as the S&P 500 completed a 50% retracement...Airline Stocks (30-Day % Change) Data as of April 15th, 2020 Source: TradingView 7 Stocks' Technical...
Layer 1 / L1
Apr 2020
Curve: Hypergrowth Stablecoin Exchange
Quick Background Curve is an exchange liquidity pool built on Ethereum to handle extremely efficient...While Curve is directly targeting this market between stablecoin exchanges, the total volume number of...$12.6T is misleading as while this amounts to total stablecoin exchange volumes, only a fraction would...
6 Min
DeFi
Jul 2020
UST Overtakes DAI, Astroport TVL, USDT Supply on Exchanges
31% of USDT Supply Is Sitting on Exchanges Risk assets fell during Asian hours weighed down by rising...USDT supply on exchanges is at a 1-year high, indicating that investors have become risk-averse and sold...About 31% of the total USDT supply are sitting idle on exchanges, suggesting traders are turning risk-off...supply on exchanges respectively.
3 Min
Algorithmic Stablecoins
Dec 2021
Relief for DAI, Multi-Chain Competition, and Exchange Balances
BTC and ETH Leaving Exchanges Exchange balances of BTC and ETH have been on a consistent decline since...BTC balance on exchanges is currently at a three-year low, and ETH balance on exchanges is at a two-year...rise of DeFi has allowed users to seek yields on their assets rather than keeping them dormant on an exchange...on centralized exchanges.
4 Min
Infrastructure
Dec 2021
Exchange Tokens Rally Ahead of Coinbase IPO
Amid the speculation, let’s revisit the current exchange token landscape, many of which have seen remarkable...The rise in exchange tokens has been driven in large part by Binance’s BNB token, which recently reached...There’s little doubt the approaching Coinbase IPO has shed light on other centralized exchanges and positively...
4 Min
Spot Exchange
Apr 2021
ETH Exchange Outflows Outweigh Inflows In Anticipation of ETH-PoW Airdrop
ETH outflows from exchanges outweigh inflows, blockchain gaming continues to attract investors, and Binance...📊 ETH Exchange Outflows Continue to Outweigh Inflows Large amounts of ETH have continued to leave...exchange wallets, despite the declining ETH price....On August 29th, exchanges saw an outflow of over 476k ETH.
5 Min
Layer 1 / L1
Sep 2022
Exchange Tokens Highlight Greater Dispersion Trend
...delphidigital.io | (585) 269-0786 Total Public Market Value (ex-BTC) 12-Month Performance (Normalized) Exchange...Exchange tokens have performed well as exchange volume has been on the rise, with 150% 60-Day Returns...recently, boasting some of the Exchange Native Token Performance (Rolling 60-Day Returns) BNB BNB...Exchange Native Token Correlations w.
Infrastructure
Mar 2019
Exchange Exodus, Staking LUNA-cy, TikTok Trends
Exchange Exodus; Bullish for DEXes?...Yesterday marked the single largest daily outflow of BTC from exchanges since mid 2016....Binance and Coinbase were the top two exchanges in terms of absolute outflow....The million dollar question right now is whether this will benefit decentralized exchanges.
4 Min
NFTs & Gaming
Jul 2021
BTC Leaving Exchanges, Bridge Farms, & Pocket's Growth
Chart of The Day: BTC Exchange Balance Trends Down The BTC balance on exchanges recently hit its multi-year...As the adoption of Bitcoin increases, we see that more users are willing to take bitcoin off exchanges...Previously, the BTC balance peaked on March 2020’s Black Thursday when investors rushed into exchanges...
5 Min
Infrastructure
Mar 2022
DOGE vs. Small Cap Stocks
One of these is the Russell 2000, the ot...
1 Min
Macro & Markets
Aug 2025
Kraken Announces stocks and ETF trading with zero commissions
...this morning: https://x.com/krakenfx/status/1911770230163898541 Kraken is now offering over 11,000 stocks...and ETFs: https://www.kraken.com/stocks Signals a shift for Kraken, differentiating themselves greatly...and ETFs: https://www.kraken.com/stocks Signals a shift for Kraken, differentiating...
1 Min
Asset Management
Apr 2025
Limitless exchange - Next Generation Prediction Markets
Instead, it’s circulated from daily markets for different tokens and stocks.
3 Min
DeFi
Sep 2024
Coinbase: Overvalued or Underappreciated
But stocks don’t trade on past results; they trade on future expectations, and stock prices are determined...Notably, major securities exchange stocks like Nasdaq or ICE or the London Stock Exchange tend to trade...Similarly, the major exchange stocks tend to trade between 16-24x forward EV/EBITDA, so assuming total...
7 Min
Spot Exchange
Apr 2021
Vertex Becomes Latest Perps Exchange to Challenge GMX
Vertex Protocol is a hybrid orderbook/AMM DEX that launched on Arbitrum in April. It’s key differentiators are its low fees (0/3 bps) and unified cross-margin. The race for cross-margin is an emergi...
2 Min
Perpetual Futures
Jun 2023
Jeffrey Emanuel: Viral Author of The Short Case for Nvidia Stock - cohosted by Pondering Durian
So, uh, you know, we talk about stocks....title of my article was supposed to be like the short case, um, for Nvidia stock....It’s like, it’s like exchanging, you know, one employee with a new employee who knows everything the...Now, I wouldn’t buy a Palantir stock. I wouldn’t short it....Like gold relative to Google [01:01:21] Pondering Durian: stock, right?
83 Min
DeFi
Jan 2025
Bitcoin, Tech Stocks, & The Almighty Dollar (Macro Matters w. Teddy Vallee)
...bring back Teddy Vallee, Founder & CIO of Pervalle Global, to discuss his latest outlook on US tech stocks...
Macro & Markets
Nov 2020