An overview of the trading activities on the cryptomarkets. Studies on traded volumes, supply and demand situations, as well as periodic technical analysis of the most important crypto-currencies and indices, including the perspective of professional Traders.
Since Bitcoin (BTC) is doing its thing and banging against the $50k resistance, I thought we would take a look at the exchange tokens and see what they have been doing since last week’s report.
A closer look at the exchange tokens
I have changed the scale to an index for each token. This makes comparing them a bit easier. Here’s the ranking:
- DYDX +113%
- BNB +5%
- UNI +0.5%
- OKEX & LEO -4%
- FTX -17%
- SUSHI -18%
- HUOBI -44%
I am surprised to see that HUOBI is not recovering, and also that UNI and SUSHI are not performing better (compared to DYDX).
Low futures basis across exchanges
An observation also worth mentioning is related to the BTC and ETH term structure (futures). For some reason, the backdated futures are trading lower on an annualised % basis. Huobi futures are the leaders in that sense, but this might be due to the fact that they are deboarding clients, and they might be needing to close out positions to move them to another exchange. But even the CME futures look cheap in the March 2022 area. Maybe traders do not believe in a breakthrough to the $50k level.
Order books are well populated on the offer side. However, having said that, in the event that we break $50k, it could spark some fireworks (yes, I know… I have not said anything remotely close to this for a long time now).
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.
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.
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.