Recurring market commentary on what's happening in the crypto markets, summarized by the Crypto Broker team at Crypto Finance AG.

Market commentary

Good Morning!

This week was marked by M&A activity, and partnerships in the crypto space.

In the data space, Skew was acquired by Coinbase for an undisclosed sum. Genesis Volatility and LedgerX are teaming up. In the custody space, Galaxy landed the first (disclosed) $1 billion deal within the crypto sector, with the planned $1.2 billion acquisition of BitGO.

On the regulatory side, Gary Gensler (SEC chair), in his first public hearing, clearly advocated regulating crypto exchanges as they are currently not subject to any market supervision: neither the SEC nor the CFTC. Therefore, there is no protection against manipulation and fraud.

The market was dominated last week by the rise of ETH (25%). Bitcoin, however, had no significant gains throughout the week (+3%). ETH's little brother ETC even managed to gain 300% over the week.

On the flow side, this week we saw asset manager rotations from small coins to older altcoins (LTC, BCH, XLM, LINK, EOS).

The coming weekend could be interesting for Cardano (ADA). Yesterday, Cardano managed to break out of two months of sideways movement (USD 1-1.5). If momentum players now play this breakout, it might not be too unlikely over the weekend to see prices around USD 2.

Funding yields have also improved again this week. This could continue over the weekend. Thus, setting up funding trades today over the weekend could be interesting, because on the one hand, funding is picking up, and on the other hand, the futures basis looks historically quite favourable.

Happy Friday!

All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.

Disclaimer

This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.

Risk disclosure

Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.