OKX x SUN ZU Lab Exchange liquidity analysis (2024 Feb)

Cycles and narratives have always been central to the global crypto market. In the past, the industry often referenced Bitcoin halving events to perceive market cycles while exploring major narrative trends. However, with the approval of Bitcoin and Ethereum spot ETFs, the crypto market has become more closely coupled with global financial markets, leading to an increase in the variables that influence market trends.

Keep up with the latest in crypto market commentary as we share the insights from our institutional research partners. In this edition, we share the latest crypto derivatives weekly from Block Scholes .

Keep up with the latest in crypto market commentary as we share the insights from our institutional research partners. In this edition, GSR recaps the crypto markets for the month of October. Bitcoin and Ethereum

Industry Insights Macro Environment: The Federal Reserve’s rate cuts have positively impacted the macro environment, benefiting major decentralized finance (DeFi) protocols. In September, the Fed implemented a significant 50-basis-point rate cut, lowering the federal funds rate to a range between 4.75% and 5%. Although this caused short-term fluctuations, Bitcoin's long-term outlook remains strong. With the global financial system increasingly dependent on monetary expansion, BTC, as a global asset independent of central bank policy, has grown in appeal, with net inflows into totaling $21.3 billion.

Keep up with the latest in crypto research as we share the insights from leading institutional research players. In this edition, we share what Cumberland sees in the markets with the upcoming US Presidential election and the divergence between polling and crypto market sentiments.

Authored by Kiwi Yao, researcher @OKX Ventures and repurposed by Kelvin Lam, CFA This is the second part of the Ton Ecosystem and Industry Analysis Report . First part of the report: A Deep Dive into the TON (The Open Network) Ecosystem