Market Snap

Market Wrap

Risk markets starting the year in a subdued mood. Counterintuitively, wariness grows as Omicron fears fade, reducing the possibility of any extension to quantitative easing in the US. BTC has ranged between $46k and $48.5k since we last spoke, typical vol and trading range for 3 days.

Nothing to get excited about here, though I notice that Perpetual Futures funding rates have stayed anchored to 1bp for some time. That recent leveraged induced sell-off may have finally dampened demand for futures products. We can only hope.

Occasional Series - Apologies

I know you are all used to the CCC 24/7/365. I did say that the New Year’s Day CCC might not happen after the party, which went on a little longer than expected.

I apologise for the two-day gap and for the fact that today’s missive will be shorter and rather less incisive than usual.

Normal service will be resumed tomorrow.

Curious Cryptos’ Commentary – IOTA staking

On the 19th of December 2021 the CCC talked IOTA holders through the benefits and the process of staking IOTA.

There is a 90-day period to earn $SMR and $ASMB of which 5 days have now passed. $SMR and $ASMB may turn out to be worthless.

However, if you are a believer in the IOTA project, and you own IOTA, it would be foolish to miss out on what may be one of the most exciting crypto projects of 2022.

If you own IOTA, download the latest version of Firefly (1.3.2), connect your Ledger Nano X and stake. Do it today.

Reserve Treasury Protocols (before they all go to zero)

Reminder – Olympus and Wonderland are, to the best of my knowledge, live viable projects. XEUS, FORT and JADE turned out to be scams.

That is not uncommon in these Wild West fringes of Decentralised Finance.

Open positions:

Closed positions: