📊 $BTC #Kaiko report:
▫️ BTC market depth of 2% for BTC-USD and BTC-USDT trading pairs, aggregated across 14 exchanges, has yet to recover to >10K BTC levels (pre-FTX crash), suggesting market makers have not returned in full force;
▫️ However, since the end of December the depth has increased slightly, approaching 4 thousand BTC for the first time in more than a month;
▫️ Binance market share is restored after settlement.

By dump #OKB: Supply-side market depth increased in the hours before the price drop, which may indicate market makers were preparing for upcoming volatility, which is not entirely consistent OKX excuses.

📊 #Kaiko notes the significant loss of #USDT 's share of the stackcoin market on CEX (from 95% at the end of 2020 to 71% now).

$FDUSD , which is mostly traded on Binance, has added the most recently, taking a 21% share.

📊 $BTC #Kaiko : cumulative volume delta (CVD) indicates that selling pressure started to build up towards the end of the Asian trading sessions on Binance and Bybit before spreading to other markets.

📊 $BTC #Kaiko : BTC Total Volume Delta (CVD) on Binance has risen over the past week, indicating strong market buying.

🔎 #Kaiko analysts note that $SOL continues to exhibit a lower market depth to volume ratio on centralized exchanges than $BTC and $ETH

Simply put, SOL now has a lower probability of large trades impacting the price

📊 #Kaiko : The average $BTC trade size reached a multi-month high of $1.3K.

📊 #Kaiko : Over the past decade, $BTC and Gold have shown weak correlation, which may indicate that the drivers of demand for gold are different from the drivers of demand for Bitcoin.

📊 #Kaiko : $BTC is now more volatile than $ETH , and the gap between their 30-day volatility metrics has reached a multi-year high.

📈 $BNB #Kaiko : Binance's market share among exchanges shows signs of recovery

📈 #Kaiko : $USDC market share on the CEX has doubled over the past year, reaching its highest level since 2021 last week.

🔎$BTC #Kaiko 's cumulative volume delta shows that last week's sell-offs were mainly concentrated in USDT markets (orange curve).

There was almost no selling pressure from USD markets (blue curve).

📊 #Kaiko records growth of average $BTC transaction volume on CEX

📊 $ETH #Kaiko : Despite having slower price action than Bitcoin and many altcoins, Ethereum has shown significant improvements in global centralized exchange liquidity.

📊 #Kaiko : Funding rates for $BTC perps turned negative for the first time since late 2023 in the lead up to the halving.

📊 #Kaiko : $BTC implied volatility for April expiry soared from 62% to 75% over the weekend, hinting at short-term price turbulence ahead.

📊 #Kaiko report:
▫️ $BTC market depth of 2% improves, suggesting market makers are starting to return;
▫️ BTC market share on US exchanges compared to global exchanges has increased consistently since November, exceeding 50% since the end of 2023;
▫️ Both institutional and retail trading volumes on Coinbase began to increase, with growth driven primarily by altcoin transactions, which accounted for 42% of total trading volume, while BTC and ETH fell to 31% and 15% respectively.

#Kaiko , a Paris-based cryptocurrency market data provider will relocate its Asian headquarters to Hong Kong from Singapore for better opportunities in the city's digital asset market.

#bullmarket #hongkongweb3 #BTC #crypto2023

During Bitcoin's rally overnight, almost 50% of trading volume on the spot market came from the OKX exchange, Kaiko analysts said.
#Kaiko

Crypto data provider #Kaiko to relocate Asian HQ to 🇭🇰 Hong Kong amidst positive #crypto policy signals.

#crypto2023 #BTC #dyor

📊 #Bitcoin Volatility Declines in Long Term, Is It Ready to Become a Currency?

🔶 One of the main arguments put forward by detractors of Bitcoin is its high volatility, claiming that it is not a currency. Indeed, Bitcoin is known for its significant price fluctuations, being able to lose or gain 5% of its value in a day and up to 80% in a few months.

🔶 Such uncertainty regarding variations in the value of #BTC in the short term would prevent its users from relying on this currency to make their daily purchases. However, unlike its capitalization, Bitcoin's volatility has decreased significantly over time.

🔶 According to a study by #Kaiko Research, although the price of Bitcoin increased from $17,000 at the start of 2023 to more than $73,000 in March 2024, an increase of 330%, its volatility 60-day average has never been lower over such a long period.

🔶 As an indication, the 2 main periods of high volatility of BTC were caused by the Covid-19 crisis in 2020 and by the fall of the Terra ecosystem, followed by the bankruptcy of #FTX in 2022. We could therefore think that volatility increases mainly when the price is in a sharp decline, while its volatility had also reached a peak of 106% during its 2021 high at $69,000.

🔶 Kaiko Research nevertheless points out that it is too early to consider this trend definitive. Indeed, it is impossible to determine whether Bitcoin will repeat its volatility spikes in the future. However, these figures show that BTC has gained maturity, which proves its investors right and still leaves it with the possibility of becoming an everyday currency.