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26 Oct, 10 tweets, 4 min read
0/ In today’s Delphi Daily, extreme greed returns as Bitcoin dominance falls.

We examined GBTC’s recovery from BITO launch, greed in the market, ETH OI ATH, and some of the top performers in the last 7 days.

For a deeper dive 🧵👇
1/ The discount on GBTC dropped to ~20% on October 18th due to the anticipation of BITOs launch on the 19th.

GBTC volume and discount has recovered since the BITO launch.
2/ After rising for a month with ETF anticipation, we’ve seen a slight pullback as the broader crypto market rallied.

The Crypto Fear and Greed Index is back to highs we haven’t seen since early March, officially marking “Extreme Greed” levels.
3/ ETH had its highest daily close ever yesterday, closing at $4,220 on @Coinbase, but its latest price rally coincided with new record highs in futures open interest.

@Binance and FTX still lead the way as the largest two exchanges, currently making up ~41% of ETH OI.
4/ L1s have been outperforming almost every other category since the June 2021 crypto bottom.

This week, this has trickled down to smaller L1 tokens such as SCRT (+98%), ONE (+60%), and FTM (+47%).
5/ Tweets of the day!

China’s global share of bitcoin mining finally drops to 0 after banning it for the 1283127th time.

6/ A masterclass from our very own @lex_node.

7/ @FTX_Official lists stETH, stSOL liquid staking derivatives.

8/ For the full report that inspired today’s thread 👇👇

delphidigital.io/reports/extrem…
9/ Join the channel below to get all Delphi updates as soon as they are released!

t.me/DelphiDigitalA…

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More from @Delphi_Digital

Delphi Digital Profile picture
28 Oct
Delphi has grown and changed as an organization a lot this past year, now with a team of 69

We're proud to release a new site that better reflects who we are and what we're currently focused on! 🧵👇
delphidigital.io/?join
At its heart, we believe Delphi is a DAO

We're a family of independent projects collaborating with a shared set of values, vision, people and resources united under the Delphi brand

Our team of 69 are broken out as follows:
🔬Research 20
🧪Labs 21
💸Ventures 12
💻Product 16
Before we give an update on each arm, the most important part of today's launch is the new platform we’ve been building behind our 3.0 Portal

Here's a sneak peak, but stay tuned for constant updates and new tools hitting the portal in the coming weeks!
vimeo.com/639697617
Read 15 tweets
Delphi Digital Profile picture
27 Oct
0/ Crypto markets cooled off today with one notable exception—Shiba Inu coin—which is up more than 67%.

In today’s Delphi Daily, we analyzed the pullback of top performers, the large leverage wipeout, and the resurgence of meme coins.

For more 🧵👇 Image
1/ The last 24 hrs have been a whirlwind for crypto markets with base layer tokens taking the biggest hit, many of which are down from yesterday’s highs.

ATOM’s two-day performance is still in the green thanks to yesterday’s rally; SOL, AVAX, and NEAR are all down at least 8-12% Image
2/ Outliers in today’s ugly market comes, surprisingly, in the form of DeFi tokens and SHIB (aka “the DOGE killer”).

1INCH and AAVE price action today was overwhelming and likely catalyzed by the token’s listing on Korean exchange @upbitglobal. Image
Read 10 tweets
Delphi Digital Profile picture
25 Oct
0/ In today’s Delphi Daily - @CurveFinance hits $100B lifetime volume!

We explore Curve’s tokenomics design and growth, the broader implications for DeFi, and the recent rise of meme coins.

For a deeper dive 🧵👇 Image
1/ @CurveFinance has facilitated over $100B of volume since launching in Jan. 2020.

CRV’s token economics were heavily criticized because of incredibly small float and rapid emissions, but they’ve since proven their token model works and is one of the most efficient across DeFi Image
2/ Curve’s liquidity provision and token locking model have led to competition amongst farming products built on top of Curve.

Convex’s model has quickly helped it establish itself as the leader with over 35% of veCRV supply held by Convex. Image
Read 10 tweets
Delphi Digital Profile picture
20 Oct
0/ A monumental day with the first Bitcoin ETF going live.

In today's Delphi Daily, we analyze GBTC—now trading near its steepest discount all year—in addition to @terra_money's activity, a historic BNB burn, and @alamedaresearch $180M BitDAO proposal.

For a deeper dive 🧵👇
1/ Market Update-

🔹Proshare’s Bitcoin Futures ETF today, the first Bitcoin-linked ETF in the US, as it made its trading debut and over $1B worth changed hands.

🔹The Valkyrie Bitcoin ETF is due to debut tomorrow with the memorable ticker BTFD.
2/ GBTC is currently trading near its steepest discount of the year on the back of the ProShares Bitcoin Futures ETF launch today.

GBTC shares are locked up for 6 months and GBTC holders subject to such lock ups are unable to trade in reaction to market movements.
Read 11 tweets
Delphi Digital Profile picture
18 Oct
0/ Crypto markets are on a roll lately, with BTC spot and futures OI nearing ATHs. Meanwhile, macro indicators have been giving mixed signals on Covid recovery and interest rate expectations.

Are things getting overheated?

For a deeper dive 🧵👇
1/ BTC just recorded its highest weekly close on record last week; let’s let that sink in.

BTC ended the week at $63K on Sunday, topping the $61.5K weekly close on Apr. 6.
2/ OI in BTC futures is nearing its all-time high. OI growth reflects an increase in leverage. However, when the price of an asset is increasing, OI measured in USD is bound to go up.

FTX, Binance, Bitfinex, and CME all hit their highest level of OI in the last few days.
Read 12 tweets
Delphi Digital Profile picture
15 Oct
0/ In today’s Delphi Daily, we look into ETH’s rebound, the launch of Banker Joe, and the recent performance of Perp and CEX tokens.

For a deeper dive 🧵👇 Image
1/ After days of hovering at the bottom of the 0.06 to 0.08 range, ETH bounced from support rather abruptly to 0.066. Daily RSI14 also recovered from oversold levels (30), adding promise.

It’s too early to tell whether this is mean reversion or part of a larger move. Image
2/ @traderjoe_xyz’s TVL (and, by extent, @avalancheavax’s TVL) increased by close to $700m following the launch of Banker Joe, Trader Joe’s new lending product.

In the past 3 days, TVL on Trader Joe has increased by $700m. Image
Read 10 tweets

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