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What are crypto assets? market information Pillar Activity information
2022/03/29

Burst

highlights of last week
  • The range breakthrough will support $45500
  • Does non speculative flow buying indicate long-term popularity
  • Private speculative capital investment and rising Futures Basis
  • Before the integration of Ethereum 2.0, there was a movement to borrow Ethereum
  • Gamma is supplied when spot prices rise, while gamma produced by decentralized finance is in sufficient supply

  • last week
    The overall performance of the encryption asset market last week was strong. Bitcoin broke through the resistance level of $45000 and soared to $48000 at the beginning of this week. Last week, both bitcoin and Ethereum rose about 15%, and ADA (Cardano) rose 30% every week except for its main encryption assets. rose. After the FOMC, it showed that the path of the interest rate increase cycle reduced uncertainty and limited the response to geopolitical risks, which may lead to an increase in risky assets.

    From the perspective of transaction trend, Ada (Cardano), Luna (Luna Terra), link (chain link), dot (Polkadot), EOS (IOS), BTC (bitcoin), ETH (Ethereum) and avax (avalanche) XRP (XRP) are dominant. By region, surprisingly, sales are dominant in all regions, including the United States, Europe, the Middle East and Asia. Especially in Asia and Europe / Middle East, net sales reached more than 55%. In terms of customer categories, overseas exchanges, banks and individuals sold net, while high-frequency trading / market makers bought.

    In the crypto asset futures market, the three-month basis rose steadily from 3.5% to 5.5%. The OTC lending market is not active, but before moving to Ethereum 2.0, some people began to borrow Ethereum for a longer time.

    In the option market, the volatility that has been declining since FOMC continues to rise and intensify. The recent volatility (1-2 weeks) was 70% after FOMC and fell to 55% at the beginning of this week. When bitcoin broke through $45000 at the beginning of this week, the volatility also increased temporarily, but it was finally pushed back to the middle range of 50%. At the same time, demand for call options for three to six months seems to remain strong

    Future Outlook
    This week is the end of the Japanese quarter and the end of the overseas quarter. Financial markets may be sensitive to traffic. In addition, in her speech on Wednesday, March 30, European Central Bank President Lagarde said that the German CPI (consumer price index), the confirmed value of U.S. GDP, and the PCE deflator (Friday), which is the most important price index of FRB on Thursday, March 31 and April 1, the U.S. employment data and important economic indicators in March will be released. Although bitcoin has played a role in hedging inflation to some extent, it seems to be returning to the category of risky assets on the whole.
    (provided by SBI liquidity market. This report was created by SBI liquidity market based on data from b2c2, a crypto asset market maker with a large share of global transactions.)
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