0/ Every week, we send out a free 5 min weekly recap called ๐ The Delphi Debrief ๐
This week we published analysis on:
๐น Layer 2s
๐น $MKR underperformance
๐น @beeple sell out
๐น Crypto Investing Frameworks delphidigital.io/reports/layer-โฆ
1/ Our must read for members this week was the all-encompassing L2 report that @Alex_Ged & our CTO @lukedelphi put together.
We spoke with all the top teams building these rollups + the projects leveraging them to answer all the qโs our clients may have. delphidigital.io/reports/layer-โฆ
2/ @MakerDAO is the largest DeFi protocol by TVL, with over $2.5B in collateral.
3/ Meanwhile, @pierskicks covers the monumental @beeple crypto art drop from last week. $3.5 million dollars of digital artwork sold in 48 hours. The drop featured a $750,000 individual sale inching us closer to the first Million Dollar NFT.
4/ One of our most popular reads this week was @ZeMariaMacedo walking through a Framework for Crypto Investing and why a sector like insurance is relatively undervalued.
1/ This report serves as a special update to our inaugural State of Bitcoin report released back in Dec. 2018. At the time, we claimed $BTC was โeasier to dismiss than understand.โ
Safe to say a great deal has changed since then. Dismissing Bitcoin is no longer an option.
0/ We recently sent our clients a special edition of the Monthly #Bitcoin Outlook by @YanLiberman and @Kevin_Kelly_II, and weโre excited to share it publicly today. This thread summarizes our take of the interplay between Price and Open Interest on Bitmex. delphidigital.io/btc
1/ We start off by recapping the 2019 volume profile for $BTC. This year, Bitcoin's volume profile has resembled that of a mini bull bear cycle. A more detailed recap can be found within the report.
2/ Open Interest (OI) represents the number of perpetual futures contracts in existence, serving as a useful proxy for the amount of leverage in the market. In 2019, peaking OI has functioned as a potential sign of trend exhaustion and subsequent reversal.
0/ We recently released our Bitcoin Monthly Outlook covering several developing trends weโre watching closely. Below is a short thread on some of the key takeaways, but you can access the full report + our historical outlooks at delphidigital.io/research!
Join us today!
1/ #Bitcoin remains one of the best performing assets globally this year, tracking its 2017 performance so far YTD. Historically, the second half of the year has been kind to $BTC, especially the early autumn months, but important to note history is obviously limited.
2/ Correlation between $BTC & gold has strengthened considerably the last few months amid plunging debt yields + rising geopolitical tensions (our quarterly outlook gives more context on the macro backdrop & why demand for an uncorrelated, non-sovereign asset likely increases).