Crypto Update: The financialisation of crypto
Cryptocurrency analyst, Saxo Bank
Summary: A rising total market cap, record futures volume on the CME, and some big moves by major financial institutions mean that the crypto space is seeing increased liquidity and the prospect of further expansion as new instruments and infrastructure enter the arena.
CME futures volume sets new record
In the past 24 hours, the CME futures market has had more volume than the top spot exchange by over $74 million or close to 13,000 BTC. Binance, the world largest spot exchange, had a volume of $294m while CME had a notational volume of $367m according to data compiled by Bitwise. This comes after the exchange saw its largest Bitcoin futures volume on record at the beginning of the month.
TD Ameritrade testing BTC trading
Litecoin inventor and founder Charlie Lee confirmed that TD Ameritrade is testing the trading of Litecoin and Bitcoin on its platform. The news broke from a quantitative analyst who clarified the broker was testing paper trading on its platform through NASDAQ. Although paper trading does not directly mean an increase for the underlying asset, it could lead to more effective price discovery should the instrument find adequate liquidity.
eToro launches new crypto initiative
The online exchange eToro recently launched a new, three-pronged approach aiming to bring more adoption to cryptocurrencies. First, the company released a new cryptocurrency exchange, eToroX, which trades the top digital assets. Secondly, the exchange launched a range of stable coins for the assets to trade against CAD, USD, GBP.JPY, AUD, CHF, NZD and EUR. Lastly, the exchange launched its proprietary digital asset wallet that allows users to send and receive digital assets as well as third-party payments. This is good news in the effort of bringing greater liquidity to digital assets.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.