Efficient Frontier Market Making Weekly Report January 16th 2024

Efficient Frontier would like to bring more transparency to the SSV community while maintaining our competitive edge. We source our own data but we plan to give more information on where to reference our data. If there are any questions please do not hesitate.

After the ETFs approval last week, speculative positions are unwinding, the big question is; if money that has been sitting on the sidelines can outweigh the sellers.

  • SSV has been outperforming the market gains. SSV is currently 20+% up in the last 7 days whereas the crypto market has been relatively flat.
  • The SSV price gains are outpacing ETH ecosystem gains which are up 12.7%

A few notes to explain what you are seeing:
• “7d Avg Spread” is the average spread from the best performing spread market (Binance USDT pair).
• “4% Liquidity” is ±2% from midprice liquidity sitting in the books across all exchanges
• In the individual pairs, the “2% Liquidity” is ±1% from the midprice liquidity sitting in that individual pair
*The price movement and comparison can be referenced on CoinGecko under “How does the price performance of SSV Network compare against its peers?” https://www.coingecko.com/en/coins/ssv-network

  • There were huge inflows into Crypto last week but a lot of this was concentrated towards Bitcoin.
  • SSV Volumes have been very impressive, even more so that alt volumes have decreased.
  • SSV volumes have been relatively stable with a small drop off from last week but much more impressive than at the start of the year.

*Reference the previous weeks reports Efficient Frontier Market Making Weekly Report January 9th and Efficient Frontier Market Making Weekly Report January 2nd
*Claims related to traded volumes can be referenced at the following links:BTC claim: Volume 165: Digital Asset Fund Flows Weekly Report | by James Butterfill | Jan, 2024 | CoinShares Blog, The decrease in overall volumes: Crypto Trading Volume | CoinCodex volumes related to SSV can be cross checked on both CoinMarket Cap and CoinGecko

Spreads for the previous week.

  • This is the % of time EF kept spreads from bid-ask at 75bps or better. EFs uptime is better than last weeks 94+%

Please follow market spreads either on the exchanges or Coingecko/Coinmarket cap to validate that our spreads are remaining below the agreed upon KPI

This does not include liquidity & trading in the V3 pool
Our aim is to continue to incentive volume and sustained trading health in the SSV market while remaining as transparent as we can with community members.

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