Efficient Frontier Market Making Weekly Report May 28th 2024

Highlight of the week: Staking rewards are on the up, SSV vols looking great

Election season is starting to dominate the American narrative - Crypto has become a (surprising) benefactor. Towards the end of last week, Thursday, the SEC paved the way for an Ether ETF to be approved. Mt Gox cooled the positive momentum down and BTC price dipped in the last 18 hours

  • Interesting graphic from the Financial times, ETH staking rewards are on an upward trend.

  • SSV had followed the general market trend.
  • ~4.5% down on the week.

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?” SSV Network Price: SSV Live Price Chart, Market Cap & News Today | CoinGecko

  • The volume coming into crypto has gone predominantly towards ETH and BTC. Surprisingly, SSV volumes have increased while most Alts are seeing a decline in this metric.
  • EF traded $4.370 Million worth of SSV in the last week.
  • Most of our activity has been buying, so that we can provide levels of support at critical points

Liquidity Snapshots

  • Below is the average liquidity for the week. 2% = ±1%, 4% = ±2%, 8% = ±4%

Spreads for the previous week.

  • This is the % of time EF kept spreads from bid-ask at 75bps or better.

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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