Disclaimer Efficient Frontier would like to bring attention to last weeks message of bringing 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. We plan on conducting a separate forum post related to previous issues raised. We would also like to hear from the SSV community how you would like these posts to be conducted and how we could increase DAO engagement in these posts.
Most of the market is down 8-15% this week. January is experiencing its typical liquidity lull, particularly driven by grayscale selling significant amount of BTC.
- SSV is currently down 18+% up in the last 7 days. This comes after weeks of positive momentum
- Zooming out the SSV price is about 18% up in the last 30 days.
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
- Interestingly, the volumes have differed market-to-market. Some have improved and some have suffered. SSV volumes have decreased.
- On that note, the market cap of the overall market has dropped but volumes have surprisingly increased.
- Efficient Frontier has increased our market share. Most notably in the Binance, Kucoin, Gate & OKX SSV/USDT market to provide some extra support.
*Reference the previous weeks reports Efficient Frontier Market Making Weekly Report January 16th 2024)
*Claims related to traded volumes can be referenced at the following links :Market volume claim: Volume 166: Digital Asset Fund Flows Weekly Report | by James Butterfill | Jan, 2024 | CoinShares Research Blog, The increase 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. We’ve maintained 97+% uptime
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.