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23 Jun, 11 tweets, 4 min read
0/ In today’s Delphi Daily, #Bitcoin Derivatives Rundown and The State of CryptoPunks

Check out the full analysis below! 👇

delphidigital.io/reports/bitcoi…
1/ Quick Market Update-

🔹After closing yesterday 3% up after a wick below the current range low, $BTC is currently up another 4.9% at the time of writing.

🔹 $DOGE and $SOL are the biggest winners of the last 24 hours, up 39% and 35% respectively.
2/ Friday (June 25) marks the expiration of quarterly BTC and ETH options/futures, so prepare for the possibility of volatility.

Looking at the distribution, there are tons of out-of-the-money calls set to expire worthless and puts are concentrated between $28,000 and $40,000.
3/ Futures volume on BTC has inched up to over $100 billion per day after weeks of fairly low trading volumes.

If BTC attempts to stage a relief rally, seeing futures open interest and volume rising in tandem would be a strong sign that the market is bullish.
4/ Funding has been hovering between negative territory and zero since BTC’s price broke down.

Consistently negative funding rates, however, have historically been signs of sentiment bottoming out.
5/ In other news, CryptoPunks have a seen a sharp decline in both prices and volume.

On the bright side, price hasn’t fallen quite as steeply as volume, which implies a lot of the current Punk owners aren’t sellers at this level.
6/ Tweets of the day!

Open interest on @Binance is soaring.

7/ @YieldGuild announces an IDO on @Sushiswap.

8/ Making sense of yesterday’s option flows.

9/ Join the channel below to get all Delphi updates as soon as they are released!

t.me/DelphiDigitalA…
10/ Get the most in-depth crypto research sent straight to your inbox. For Free!

delphidigital.io/daily/

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More from @Delphi_Digital

Delphi Digital Profile picture
22 Jun
0/ In today’s Delphi Daily, What $BTC Derivatives Data is Saying, Hash Rate Declines, and a Silver Lining for #Ethereum.

Check out the full analysis below! 👇

delphidigital.io/reports/what-b…
1/ Quick Market Update-

🔹After yesterday’s 11% decline on BTC, the Asia, London, and New York sessions all opened up to even more selling (no surprise).

🔹Today’s biggest winners were stablecoins, and biggest losers were literally everything else.
2/ Everything is down today, except stablecoins which have done their job with respect to holding their peg.

The @Polkadot ecosystem and meme coins were the hardest hit, but every major sector/ecosystem is down over 30% over the past week.
Read 10 tweets
Delphi Digital Profile picture
21 Jun
0/ In today’s Delphi Daily, China FUD Piles Up, Hash Rate Exodus, And Miners Selling.

Check out the full analysis below! 👇

delphidigital.io/reports/china-…
1/ Quick Market Update-

🔹China continues to pile up FUD by reiterating that banks should not engage in business with Crypto OTC traders.

🔹 Miners turned into net sellers after weeks of accumulation.

🔹Hashrate concentration in the largest pools continues to drop.
2/ With China’s move against Bitcoin and a bloody start to the week, it looks like $BTC is on the path to retest a key level at $30,540.

Successfully defending this level would likely signal range-bound behavior between $30,000 and $40,000, and opens the door to an upside move. Image
Read 10 tweets
Delphi Digital Profile picture
16 Jun
0/ In today’s Delphi Daily, $BTC HODLers back at it again, @iearnfinance TVL soars, and @0xpolygon DEX volume recovers.

Check out the full analysis below! 👇

delphidigital.io/reports/delphi…
1/ Market Update-

🔹The Federal Open Market Committee (FOMC) keeps interest rate unchanged, but raises expectations for inflation.

🔹 $CHZ and $SHIB are the biggest gainers of today thus far.

🔹 $LUNA, $NEXO, and $SNX are down the most.
2/ The net positions of BTC HODLers is a strong indicator of how longer-term investors are thinking about BTC.

For the first time since turning negative in Nov. 2020, this metric has flipped positive, indicating HODLers are buyers here.
Read 11 tweets
Delphi Digital Profile picture
15 Jun
0/ In today’s Delphi Daily, @0xpolygon garnering attention, long term $BTC holders are accumulating, and an analysis of @uniswap’s price and volume.

Check out the full analysis below! 👇

delphidigital.io/reports/delphi…
1/ Market Update-

🔹BTC and ETH had been ranging from the Asia session into the London session, with a short bout of weakness emerging at New York open.

🔹BTC currently sits near its range high and traders are awaiting confirmation of either bearish continuation or an uptrend.
2/ Google trends indicates @0xPolygon is garnering attention from retail users as 1.4 million searches were made for Polygon/MATIC in May alone.

While “DeFi” and “Yield Farming” are growing in search volume as well, users are currently tilted towards Polygon.
Read 11 tweets
Delphi Digital Profile picture
15 Jun
Delphi Labs presents: a Dynamic Interest Rate Model Using Control Theory

In this piece, we explore an alternative pricing solution which we believe to be more capital efficient and better suited to the dynamic crypto market.
delphidigital.io/reports/dynami…
Lending OGs such as @compoundfinance and @AaveAave typically use a fixed price curve where the interest rate (IR) is determined according to the utilization rate of each money market.
While this model has proved useful and was a clever initial approach to the pricing problem, it has some limitations.

Specifically, it can be too rigid for the constantly evolving crypto market and cannot adjust to changes in external market conditions.
Read 11 tweets
Delphi Digital Profile picture
14 Jun
0/ In today’s Delphi Daily, Top Performing Layer Ones, #Ethereum Gas Price Analysis, and @AxieInfinity’s Sharp Growth

For the full analysis 👇 👇

delphidigital.io/reports/delphi…
1/ Quick Market Update-

🔹This past weekend saw the bulls come out on top, indicating retail sentiment is recovering.

🔹Bullish sentiment is making a comeback as @MicroStrategy’s $500 million debt raise settles today.

🔹 $BTC is at its current range high.
2/ @0xPolygon ($MATIC), @solana ($SOL), and @FantomFDN ($FTM) are the three best performing Layer 1 smart contracts platforms in 2021 so far.

$LUNA was performing on par with these assets but suffered a much sharper decline during the latest market downturn. Image
Read 10 tweets

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