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17 May, 9 tweets, 4 min read
0/ In today’s Delphi Daily, we examined $BTC’s open interest and how BTC options can predict upcoming volatility.

We also examined @DeribitExchange’s 2021 futures flash crash. 👇

delphidigital.io/reports/delphi…
1/ A barrage of put buying ensued over the weekend as BTC closed the week down 20%.

Puts for the Dec. 2021 expiry have been the biggest hit amongst insurance buyers. Image
2/ @DeribitExchange’s Dec. 2021 futures witnessed a flash crash earlier today.

Given heavy put buying on the Dec. 2021 expiry, it’s likely that the futures crash was caused by market makers who sold puts hedged their positions by shorting the Dec. 2021 futures contract. Image
3/ Market direction is still uncertain as BTC options open interest fell alongside price, but trading volumes hit a monthly high.

Since volume and OI are moving in opposite directions, it’s difficult to assert what direction BTC is likely to move in. Image
4/ What’s next for BTC? Implied volatility for options that are at-the-money saw a massive increase over the past couple of days.

This is an indication that market participants expect BTC to be highly volatile in the coming weeks. Image
5/ Now it is time for the tweets of the day!

Crypto twitter raised over $800,000 to fund the medical expenses of a child battling Leukemia

6/ @iearnfinance has completed another $YFI buyback.

7/ @AaveAave hits $20 billion in TVL.

8/ Loving the new format? Want to stay up to date with the quickly evolving crypto space?

Subscribe below: delphidigital.io/subscription-p…

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More from @Delphi_Digital

Delphi Digital Profile picture
19 May
0/ In today’s Delphi Daily, we break down $BTC exchange inflows, @DeribitExchange futures trading at -75% basis, and gas hitting 1700 gwei.

Check out the full analysis! 👇

delphidigital.io/reports/delphi…
1/ May 2021 hasn’t been kind to BTC bulls, but today was by far the worst day for the market since March 2020.

Over $2 billion in BTC positions —longs and shorts — were liquidated in today’s choppy market. Over $10 billion were liquidated across crypto perps and futures. Image
2/ As demand dried across BTC markets, the annualized basis for one month futures briefly traded at a big discount. @DeribitExchange had the worst reaction, with basis reaching -75%.

This was a result of heavy selling across futures market causing them to go into backwardation. Image
Read 9 tweets
Delphi Digital Profile picture
18 May
0/ In today’s Delphi Daily, we look at @0xPolygon’s continued growth, DeFi tokens leading recent relief rally, and @Uniswap v2 vs. v3 capital efficiency.

delphidigital.io/reports/delphi…
1/ Binance Smart Chain is experiencing capital outflow as Polygon’s TVL swells to $15 billion.

Price performance for both tokens is tracking capital flows, with $BNB experiencing a downturn and $MATIC flying. Image
2/ The Asia and Europe sessions caused a market bounce, with blue chips like $AAVE, $SNX, and $SUSHI leading the market.

Despite the US session opening with a sell off, these DeFi coins are still up over the past 2 days. Image
Read 9 tweets
Delphi Digital Profile picture
14 May
0/ Our team is thrilled to announce the launch of the world's first on-chain NFT fund on @SyndicateDAO called "Delphi INFINFT" run by our team and @gmoneyNFT

Backers include @IDEOVC + other NFT pioneers like @gabusch, @Jihoz_Axie, @AndrewSteinwold, etc!
syndicateprotocol.org/syndicate/delp…
1/ First off, INFINFT:
INF - Infrastructure || FIN - Finance || NFT

The main focus of INFINFT will be to find projects in the crypto ecosystem that promise to push the known edges of what NFT capabilities are now

These potential projects could include (but are not limited to):
2/ NFT marketplaces, DAOs, social tokens, fractionalization, NFT infrastructure, and any other new developments that may arise during the syndicate's investment cycle

We'll leverage our team's combined IP, networks, and influence to position these projects for maximum success
Read 8 tweets
Delphi Digital Profile picture
12 May
0/ Today we looked at YFI’s current run to ATH, @Uniswap’s highest single day of volume, and the amount of $ETH in smart contracts continues to rise. 👇

delphidigital.io/reports/delphi…
1/ Following months of choppy price action, YFI hit an all-time high, surpassing $90,000 at one point.

$YFI is now leading the current DeFi Rally.

This rally was further propelled by @iearnfinance embracing the dog coin phase. Image
2/ A week after Uniswap v3 launch, Uniswap v2 recorded $3.6 billion in daily volume. This marks the highest volume in any single day.

Dog coins are the primary catalyst for higher Uniswap volumes. Image
Read 9 tweets
Delphi Digital Profile picture
8 Mar
0/ Beware the Ides of March: A roman history lesson or a historical lookback at $BTC price?

Normally a volatile time of year for #Bitcoin and thus far 2021 has been no exception. Here's what to expect going forward. 👇
delphidigital.io/reports/beware…
1/ #Bitcoin started off 2021 with its best performance since 2013, nearly doubling over the first seven weeks of the calendar year (+98%).

Even after the end of February sell off, $BTC recorded its 5th consecutive month of gains.
2/ As we have covered before, $BTC price tends to struggle between mid February and late March. #Bitcoin price corrected ~21% over last week of February.

Thus far, BTC seems to be following a similar playbook in 2021.
Read 10 tweets
Delphi Digital Profile picture
5 Jan
0/ [RESEARCH RECAP PUBLIC RELEASE]

First, a huge thank you to everyone who's supported the Delphi team this past year!

As a small token of appreciation, we’re releasing a special edition report covering some of our best work recently!

TLDR thread below:
delphidigital.io/reports/happy-…
1/ Bitcoin is King of the Hill…Again

@Kevin_Kelly_II illustrates why #bitcoin can no longer be ignored by investment managers on the back of its 2nd consecutive year outperforming just about every major asset class.

delphidigital.io/reports/bitcoi…
2/ The Bitcoin Bull Case: 2021 & Beyond

@mediodelphi's rigorous on-chain analysis paints the ideal setup for BTC while @Kevin_Kelly_II reaffirms several technical & macro tailwinds heading into 2021.

$BTC is up ~70% since the report was first published.
delphidigital.io/reports/the-bi…
Read 21 tweets

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