Thread by @crypto_notte

What our crypto trading desk observed in the last week?
Some color on the most recent market movements and life 🧵

There were no significant changes in basis during the week, funding on perpetual swaps is still low, even negative in some cases.

Historically negative funding is associated with an excess of shorts which is a good signal for short term plays.

ATM IV has been trending lower as no major events impacted bitcoin, and price movements were smooth. However, it is good to be vigilant going toward the end of September as it is a derivatives expiration with significant Open Interest, both in Future contracts and Options.

dYdX community is discussing a proposal to modify its issuance, the proposal includes adding vesting to MM rewards, diminishing the threshold for MM to 2.5% and a gradual reduction of MM rewards. The discussion has inputs from large stakeholders such as 3AC, Wintermute and Kronos

#solana had its first serious stress test stemming from a massive transaction flood of 400k TPS, the network emergency update was successfully implemented in less than 24 hours.

#litecoin was targeted by fraudsters in a pump and dump scheme driven by a fake Litecoin/Walmart partnership, more details on our trade here

https://twitter.com/crypto_notte/status/1437424196183801857

Regulatory wise, we are following very closely the ongoing feud between Coinbase and the SEC

https://twitter.com/brian_armstrong/status/1435439291715358721

When trading it is always important to find the proper balance between short-term and long-term.

The competitive advantage required to making 💰 in one or the other is very different, and you need to figure out where you can make it.

And that's all folks, if you enjoyed the read follow and retweet to spread awareness.

Don't trust, verify! 🚀