Share this page!

Maybe Scrolly?
Delphi Digital Profile picture
Twitter logo
25 Aug, 11 tweets, 4 min read
0/ In today’s Delphi Daily, we examined the recent habits of $BTC whales.

We also analyzed USDT outpacing USDC, Ethereum hash rates, and adopting on the Lightning Network.

To dive deeper into todays daily 🧵👇
1/ Market Update-

🔹The market is continuing on yesterday’s consolidation, with BTC and ETH moving lower.

🔹L1s like SOL, LUNA, and FTM were affected the most given the L1 run-up the past week.

🔹AVAX and BNB, however, remained resilient during this pullback.
2/ USDC issuance falls, and USDT slips back into pole position.

However, Cirlce recently announced a re-allocation of assets backing USDC into safer investments like bank deposits and short-term treasuries, which could inspire more confidence in USDC and push issuance back up.
3/ During the recent run-up of Bitcoin, the total BTC held in whale wallets, defined as containing 1K-10K coins, fell from about 5.3M to 5.23M in August so far.

Meanwhile, smaller wallets with 1-1000 BTC began accumulating more.

Generally, this is a fairly bearish signal.
4/ Ethereum’s hash rate grew to an all-time high of 611 TH/s, last seen at the peak of this cycle in May 2021.

The network’s transition from Proof-Of-Work (POW) to Proof-Of-Stake (POS) consensus is expected to occur in Q1/Q2 2022 and would spell the end of POW mining.
5/ Lightning Network (LN) is an L2 solution on Bitcoin to improve on its scaling limitation, making it possible for fast transactions and micropayments using BTC.

BTC locked in LN and active nodes on the L2 ramped up in June after the El Salvador announcement.
6/ Tweets of the day!

Tips for bridging over to @Avalancheavax

7/ A consolidated resource guide for anyone in crypto

8/ An update on @AlphaFinanceLab’s oracle aggregator

9/ For access to the full report 👇

delphidigital.io/reports/usdt-o…
10/ Subscribe so you do not miss a report!

delphidigital.io/subscription-p…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Delphi Digital

Delphi Digital Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Delphi_Digital

Delphi Digital Profile picture
16 Sep
0/ In today’s Delphi Daily, we set out to answer the question of “Did the market overreact last week?”

We examined ETH/BTC trendlines, checked in on market sentiment, looked at stablecoin inflows, and analyzed a potential catalyst for L2 season.

For a deeper dive 🧵👇 Image
1/ Market Update-

🔹After a strong showing this week, BTC spent most of today chopping around between $47K and $48.5K.

🔹DeFi tokens continue to run with SUSHI, RUNE, SNX, and CRV leading the way.
2/ Despite poor market conditions last week, ETH/BTC is still above its latest trend line break.

Price was consolidating within a channel before breaking out.

And after breaking through, price came back to re-test the upper trend line, typically a sign of continued strength. Image
Read 11 tweets
Delphi Digital Profile picture
15 Sep
0/ In today’s Delphi Daily, we dove deep into @arbitrum

We looked at Arbitrum’s bridge activity, its correlation with Ethereum gas, and it's spectacular past two weeks.

For a more detailed look 🧵👇 Image
1/ Market Update-

🔹The market is bouncing for a second consecutive day, and every session (Asia, Europe, North America) opened up with strength.

🔹CRV is on an absolute tear today, but other top DeFi tokens are in the green as well.
2/ Less than a week after launching, the value locked in @arbitrum’s bridge is closing in @0xPolygon.

There were a flurry of liquidity mining announcements across @avalancheavax, @FantomFDN, and Harmony.

Arbitrum has been able to outshine it’s EVM-compatible competitors. Image
Read 12 tweets
Delphi Digital Profile picture
14 Sep
0/ In today’s Delphi Daily, we examined the state of crypto derivatives.

We looked at open interest, BTC options, and trading of leveraged funds.

For a deeper dive into the state of derivatives 🧵👇 Image
1/ Quick Market Update-

🔹BTC and ETH are finding strength, but what’s more surprising is today’s biggest winners are DeFi blue chips.

🔹DeFi coins have seen muted price action for months now, and a strong trend could catch several who ditched the sector.
2/ Looking at the global open interest, we see a concentration of capital at $50K, $60K, $80K, and $100K.

This doesn’t necessarily infer bullish sentiment, as for every ape buying an out-of-the-money call, there’s a seller who believes the option will expire worthless. Image
Read 12 tweets
Delphi Digital Profile picture
8 Sep
0/ In today’s Delphi Daily, we published a post mortem of yesterday’s sell-off.

We examined market leverage, liquidations, open interest, and implied volatility.

For a deeper dive into today’s report 🧵👇
1/ Market Update-

🔹The last 24 hours have been chaotic for crypto markets, with a liquidity crisis causing some of the sharpest candle wicks we’ve ever seen.

🔹L1 tokens are rebounding the hardest with NEAR and ALGO outperforming everything, and LUNA not too far behind them.
2/ $4B and $3.6B of BTC and ETH OI were respectively wiped out yesterday.

Looking at the absolute OI levels, it’s quite clear we were growing too fast. But looking at OI growth relative to market cap helps us discern if leveraged traders were getting ahead of themselves.
Read 11 tweets
Delphi Digital Profile picture
7 Sep
0/ In today’s Delphi Daily, we examined the leverage wipeout that the market experienced.

We also looked at NFT volume cooling off and $ETH emissions being deflationary for the first time.

For a deeper dive into today’s report 🧵👇
1/ Market Update-

🔹The crypto market experienced a flash crash as BTC moved downwards to ~$42k and ETH to ~$3k.

🔹A negative feedback loop of liquidations seems to be the primary cause, as the market punished over-leveraged apes.
2/ Open interest in ETH futures hits an all-time high, pushing ETH above $4,000.

High OI can be seen as traders starting to open more futures positions, often with some amount of leverage.

Low, stable funding implies balance as demand isn’t skewed towards either longs or shorts
Read 11 tweets
Delphi Digital Profile picture
26 Aug
0/ In today’s Delphi Daily, we took a brief look at market structure.

We examined the impact of leverage in the market, implied volatility of $BTC, CME’s open interest, and Ethereum DEX volume.

To dive deeper into this analysis 🧵👇
1/ Market Update-

🔹The markets are red again, with BTC and ETH both nuking into the Asia session and consolidating near the lows.

🔹AVAX is down 18% over the last 2 days, and Avalanche ecosystem coins took a hit too.

🔹SAFEMOON and SOL are unfazed by the downturn.
2/ A useful metric to gauge leverage is the ratio between BTC’s OI across futures and perps, and its total market cap.

On its own, this probably isn’t a very useful data point. But with the context of price and trend structure, we can actually pull away some useful insights.
Read 11 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @Delphi_Digital has new unrolls!

Check out other threads from @Delphi_Digital!

Read all threads by @Delphi_Digital

:(