ChainCatcher news, according to a research report by Kaiko, the market slump in February triggered several waves of liquidations, significantly reducing the leverage levels of the top ten altcoins. Analysts believe that this position reset has created a healthier foundation for the cryptocurrency market, potentially paving the way for a more sustained upward trend in the coming weeks.The report notes that with the U.S. announcing the establishment of a strategic cryptocurrency reserve plan, although Bitcoin's reaction was relatively muted, overall market volatility surged, especially among altcoins. The intra-day volatility, which had been below 200% since the tariff sell-off in February, skyrocketed after the announcement, with ADA's volatility breaking 600%, marking the largest increase among major altcoins.Kaiko's analysis indicates that the inclusion of specific altcoins in the U.S. strategic reserve may accelerate the rotation of capital among altcoins, reinforcing the trend of concentrated gains in altcoins. Since last November, trading activity on U.S. exchanges has increasingly been dominated by large-cap assets. A year ago, the top ten altcoins accounted for 58% of altcoin trading volume on U.S. platforms, and 50% on offshore exchanges; as of last week, these shares have risen to 77% and 66%, respectively.

ChainCatcher news, according to Kaiko, despite South Korean traders traditionally favoring altcoins (which account for about 80% of the market share on local platforms), Bitcoin has attracted a significant inflow of safe-haven funds during the recent political turmoil.On Upbit and Bithumb, the cumulative volume delta (CVD) of the BTC/KRW trading pair has shown a noticeable increase.

ChainCatcher news, Kaiko stated that recent demand for Bitcoin is primarily driven by enterprises. KULR Technology, Rumble, and Genius Group began incorporating Bitcoin into their balance sheets in the fourth quarter. However, $MSTR remains in the lead and significantly increased its purchasing volume in the fourth quarter.

ChainCatcher news, Kaiko predicts that ETH will experience positive growth by 2025. Analysts state, "ETH will be one of the biggest winners of the regime change in Washington, D.C." The company believes that its clear classification—whether as a commodity or a security—will stimulate growth next year.Despite many investors becoming increasingly cautious about ETH, especially after the ETH/BTC exchange rate hit a new annual low, it has stabilized and risen after the election.According to Coinglass data, Ethereum ETFs recorded only three days of outflows in the past 30 days. Meanwhile, investors have poured in over $12 billion.

ChainCatcher news, according to data from Kaiko Research, the price of Ethereum (ETH) recently reached an annual high of $4000. Although it briefly outperformed Bitcoin (BTC) after the U.S. elections, ETH has yet to test its historical high of around $5000 from 2021.However, last weekend, the price of ETH stabilized around $4000, indicating that it may be poised to test a new price range. The rise in ETH prices coincides with a resurgence of market interest in ETH ETFs, which set a record for historical fund inflows last week. Institutional investors have shown a significant increase in interest in ETH and are optimistic about potential returns in 2025.Additionally, changes in the leadership of the U.S. Securities and Exchange Commission (SEC) may further drive market demand, with ETH potentially being a significant beneficiary of this change.

ChainCatcher message, Kaiko pointed out in its market analysis that the recent rise in cryptocurrency has led to an increased demand for off-chain and on-chain liquidity of stablecoins. Since late October, the cost of borrowing USDT and USDC from Binance has more than doubled. While these rates typically fluctuate based on market conditions and supply-demand dynamics, this increase indicates a growing demand for leveraged positions in both spot and futures markets. Meanwhile, the market capitalization of stablecoins has also reached an all-time high.Additionally, the stablecoin lending rates on Aave V3 have also risen in November. In recent months, the cumulative trading volume delta (CVD) of USDT-USD has shown a significant increase in net buying since November, indicating that traders are shifting from fiat currency to stablecoins. The dominance of USDT relative to other dollar-backed stablecoins surged from 69% at the beginning of November to a 13-month high of 86% on November 26, before retreating to 80% last week.In the past month, the trading volume of euro-backed stablecoins has surged tenfold, rising from $5 million per day in October to over $70 million at the annual peak in early November, before slightly retreating last week.

ChainCatcher news, Kaiko released a report stating that ETF options are the latest bullish signal for BTC. Last week, several BTC ETF options made their debut, with BlackRock's IBIT options reaching a notional trading volume of $1.9 billion on the first day, totaling 354,000 contracts. In comparison, BITO options had a trading volume of $360 million when they launched in 2021. This strong buying power highlights the robust demand for BTC-linked derivatives and bullish market sentiment.Notably, over 80% of the IBIT first-day options trading volume was in call options, reflecting a strong belief in the price increase of Bitcoin. Trading activity was primarily concentrated on options with near-term expirations, with contracts expiring in December 2024 dominating. The share of IBIT call options significantly exceeded that of the largest crypto-native options market, Deribit, where call options accounted for 64% of trades.The launch of BTC spot ETF options could further accelerate institutional adoption. These tools allow investors to hedge risks and devise complex strategies to profit from Bitcoin's volatility. Additionally, they could drive the creation of structured products, which offer customized investments with specific risk-return characteristics, often developed by large financial institutions. This could attract new capital and a new wave of experienced institutional traders.

ChainCatcher news, Kaiko posted on X that after about two years, the "Alameda Gap" has finally disappeared. The liquidity gap left by the collapse of FTX and its sister company Alameda has been filled in U.S. exchanges.

ChainCatcher news, Kaiko acquires European cryptocurrency index provider Vinter. This aims to expand Kaiko's cryptocurrency data market and enhance the services provided to asset managers and institutional clients. Kaiko and Vinter will jointly offer regulated products such as derivatives, ETFs, and ETPs.

ChainCatcher news, according to Kaiko, the market expects volatility after the U.S. elections, but last week's Japanese elections drove an increase in the volatility of the yen. Since 2022, the 90-day realized volatility of BTC-JPY has surpassed that of BTC-USD for the first time.

ChainCatcher news, according to Kaiko data, due to concerns over the U.S. Department of Justice investigation, the USDT to USD exchange rate fell to $0.994 on major exchanges in the U.S., hitting a record low for this year.

ChainCatcher news, according to Bloomberg, research firm Kaiko stated that the wash trading strategy used to enhance the value of the FBI-created token NexFundAI remains a common practice on decentralized exchanges (DEX) and can also be encountered on certain centralized exchanges.In a report on Thursday, Kaiko analysts indicated that their data shows that among over 200,000 assets on Ethereum DEX, many lack utility and are controlled by individuals; some token issuers are establishing short-term liquidity pools on the exchange Uniswap, controlling the liquidity in the pools and engaging in wash trading to attract other investors; once others enter, the issuers sell off the tokens, achieving returns of up to 22 times their initial Ethereum investment within about 10 days; this analysis reveals widespread fraudulent behavior among token issuers, extending beyond the scope of the FBI's NexFundAI investigation.Kaiko noted that certain centralized exchanges, such as HTX and Poloniex, also appear to have wash trading. According to Kaiko, these exchanges have the highest number of assets, with trading volume to liquidity ratios exceeding 100 times, which may be an indication of wash trading.Kaiko also stated, "We can also see that tokens such as meme coins, privacy coins, and low market cap altcoins often exhibit abnormally high trading volume to depth ratios." Taking the meme coin Pepe as an example, Kaiko found that "in 2024, there is a significant divergence in trading volume trends between HTX and other platforms. The PEPE trading volume on HTX remains high, even increasing in July, while the trading volume on most other exchanges has declined."

ChainCatcher message, according to Coindesk, a Coinbase spokesperson responded to Kaiko's recent report. The Coinbase spokesperson stated, "In October, we did not see significant changes or declines in BTC-USD depth around 2%."Previously, Kaiko reported that after the SEC accused Cumberland of trading over $2 billion in crypto assets as an unregistered dealer, liquidity measured at 2% market depth decreased on October 10. The 2% BTC depth on Coinbase began to decline from 18:00 UTC on October 10, dropping 46% within a few hours to 267 BTC.

ChainCatcher message, according to the Kaiko Research report, since the implementation of the EU's Markets in Crypto-Assets (MiCA) regulation, MiCA-compliant stablecoins (such as Circle's EURC and Société Générale's EURCV) have reached a market share of 67% in the euro stablecoin market, a record high.The report notes that this change is primarily driven by Coinbase, which surpassed Binance in August to become the leading platform for euro stablecoin trading. Despite the market structure adjustment, the weekly trading volume of euro stablecoins remains around $30 million, down from $100 million in March.Additionally, the report mentions the impact of the MiCA regulation on dollar stablecoins, with Coinbase planning to delist non-compliant stablecoins like USDT for European users by December 30, 2024, which may benefit MiCA-compliant USDC.

ChainCatcher news, according to Hong Kong media Ming Pao, blockchain data company Kaiko's senior research analyst Dessislava Aubert pointed out that since the end of September, the world's largest stablecoin USDT, which is pegged to the US dollar, has occasionally fallen below the fundamental exchange rate of 1 dollar. Hashkey CEO Ong Hsiu Chi stated that if traders are eager to convert their funds back to fiat currency, it can be inferred that they are rushing to buy Chinese stocks.In addition to retail investors, some institutional investors are also increasing their holdings in Chinese stocks. Crypto hedge fund MNNC Group indicated that some of its institutional investor clients have also shifted their fund allocations to Chinese stocks. On the Binance platform, each USDT can be exchanged for 6.78 to 6.98 yuan, while in the traditional currency market, the offshore yuan to US dollar exchange rate is around 7.09. Due to the discount of USDT relative to the US dollar, investors may choose to buy USDT with US dollars, then exchange it for yuan for arbitrage, investing in the Chinese stock market for higher returns.Goldman Sachs upgraded its investment rating for the Chinese stock market to "overweight" over the weekend, expecting an upside potential of 15% to 18% for Chinese stocks.

ChainCatcher message, according to a recent report by Kaiko, privacy coins have experienced nearly 60 delistings on centralized exchanges this year, the highest record since 2021.The report tracks Monero (XMR), Dash (DASH), Decred (DCR), Mask (MASK), Rose (ROSE), and Zcash (ZEC). XMR had the highest number of delistings, increasing sixfold year-on-year, while DASH had the second highest.The report states that these delistings are mainly due to regulatory pressures from various jurisdictions over the past few years.

ChainCatcher news, according to Kaiko, traders flocked to the Bitcoin market before the Federal Reserve made its decision to cut interest rates yesterday.After the Federal Reserve decided to cut rates by 50 basis points, the cumulative trading volume Delta measuring net buys and sells was positive at $50 million.

ChainCatcher message, the latest report from the crypto data provider Kaiko shows that the volatility of the crypto market has significantly increased in September this year. The 30-day volatility of Bitcoin has surged to 70%, nearly double that of the same period last year, approaching the levels seen in March when it hit an all-time high.Moreover, the volatility of Ethereum has exceeded both the levels in March and the current levels of Bitcoin, primarily driven by events such as Jump liquidations and the launch of the ETH ETF.

ChainCatcher message, cryptocurrency analysis company Kaiko Research released a report stating that due to increased Layer 2 activity and the Dencun upgrade in March reducing Layer 2 transaction fees, Ethereum's Gas fees recently hit a five-year low. This reduction in fees has had a significant impact on Ethereum, as lower fees mean less ETH is being burned, leading to an increase in token supply.Since April, the total supply of ETH has been continuously rising. Despite demand-driven factors such as spot Ethereum ETFs, the ongoing increase in supply may suppress potential price increases in the short term.

ChainCatcher message, Kaiko released a report stating that interest rate cuts are unlikely to limit the appeal of tokenized government bonds. BlackRock's on-chain tokenized fund BUIDL provides investment in traditional debt instruments such as U.S. Treasury bonds, and BUIDL has quickly become the largest on-chain fund by assets under management (AUM). The fund was launched in March 2024 in partnership with Securitize and has attracted over $520 million in inflows to date.If real interest rates remain stable, the potential stimulative effect of the Federal Reserve's interest rate cuts may be weaker than expected. In this scenario, U.S. Treasury bonds may still be attractive compared to risk assets, as investors may prefer liquidity and safety over risk.