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All-positive week since September, Lido Flips MakerDAO, and More!
Markets entered their first all-positive week since September. Bitcoin and Ethereum are up by 3% and 9%, respectively, over the past week. Having March as a date for Ethereum’s Shanghai Upgrade, where staked ETH withdrawals are slated to begin, has boosted market sentiment, especially with protocols like Lido, which increased in returns by over a whopping 60%, as seen in Figure 1. Other outliers in last week’s rally include Optimism, which is up by nearly 32%, and Cardano, up by 25%.
Figure 1: Weekly TVL and Price Performance of Major Crypto Categories
Source: CoinGecko, DeFi Llama. data as of January 9 (close price).
Key takeaways
• Coinbase, Huobi and Genesis lay off at least 20% of staff, Wyre scales back and limits withdrawals.
• ETH core developers hoping to launch Shanghai testnet by February
• With $6.6 billion in assets, Lido Finance surpasses MakerDAO to become the largest DeFi app
• Solana NFT trading volume soars, despite adverse market conditions.
PSA: Attend our bi-weekly analyst call hosted by our research team, where they provide insights into current affairs. Our next session is on Jan 18, 2023, at 16:00 (GMT+1:00)
Spot and Derivatives Markets
Figure 2: Bitcoin Futures Open Interest Perpetual
Source: Glassnode
The current open interest perpetual futures, – is almost at levels equivalent to two years ago, right after a sharp dip before the peak of the 2021 bull market. Bitcoin was almost $40K on January 9, 2021 when the open interest was $6.3B, with the same level today, BTC trades at circa $17K. This trend may indicate that momentum behind the movement is slowing and the direction of prices could reverse.
On-chain Indicators
Figure 3: Total Value of Staked ETH
Source: Glassnode
The amount of ETH that has been deposited to the ETH2 deposit contract has increased by 2% month-over-month to total almost $16M. Later in this report, we delve deeper into what that means to many protocols in DeFi, namely those working on liquid staking solutions.
Next Week’s Calendar
Read our full report here
Research Newsletter
Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com
Disclaimer
The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.
I början av året förutspådde 21shares att krypto-ETPer skulle driva ytterligare institutionell adoption och nå 250 miljarder dollar i förvaltat kapital globalt. Den milstolpen har just nåtts.
Research Newsletter
Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com
Disclaimer
The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.
Globala krypto-ETPer förvaltade tillgångar når 250 miljarder dollar
YGLD ETP spårar priset på guld och ger en löpande avkastning
Investera i Stacks med en börshandlad produkt
VALOUR FLR SEK följer priset på kryptovalutan FLR
BlackRock utökar sitt utbud av iShares iBonds UCITS ETFer med sex nya lanseringar
HANetf och Infrastructure Capital Advisors samarbetar för att lansera aktivt förvaltad preferensavkastnings-ETF i Europa
IN0A ETF spårar S&P 500 med fokus på företag med höga ESG-betyg
De bästa lågvolatilitets ETFer på marknaden
PLTY ETP utfärdar optioner mot aktier i Palantir
Time in Bitcoin beats timing Bitcoin
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Nyheter4 veckor sedanHANetf och Infrastructure Capital Advisors samarbetar för att lansera aktivt förvaltad preferensavkastnings-ETF i Europa
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Nyheter4 veckor sedanIN0A ETF spårar S&P 500 med fokus på företag med höga ESG-betyg
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Nyheter4 veckor sedanDe bästa lågvolatilitets ETFer på marknaden
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Nyheter4 veckor sedanPLTY ETP utfärdar optioner mot aktier i Palantir
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Nyheter4 veckor sedanTime in Bitcoin beats timing Bitcoin
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Nyheter4 veckor sedanHANetf kommenterar kopparuppgången
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Nyheter2 veckor sedanFokus mot en helt ny börshandlad produkt i september 2025
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Nyheter3 veckor sedanM5TYs senaste utdelningstakt (55 %) belyser covered call-strategins inkomstpotential
