Efficient Frontier
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Efficient Frontier

The Russian bear market

Welcome back to Efficient Frontier’s biweekly email, sharing our insights into the world’s most volatile markets. We hope you enjoy our executive summary of the effect of recent events from a crypto perspective. Scroll down for our “Four months of bear” review.

Market wrap: Ukrainians are buying Tether

Ukraine’s central bank officially halted their foreign currency markets yesterday due to the state of emergency and limited cash withdrawals to 100,000 UAH or roughly 1.4 ETH to prevent bank runs.

Tether is trading at roughly a 10% premium in online UAH markets. Black: UAH/USD, Orange: UAH/USDT (Tether)
ruary 24th-25th. Vix, gold, ruble, oil, corn, weat, UAH, Nasdaq, S&P, Ruble, Bitcoin

Bitcoin

Looking at Bitcoin’s chart you actually wouldn’t necessarily assume a war started in Europe yesterday as Bitcoin can be volatile even with no news at all.

BTC/USD February 11–25. The black arrow shows 3 AM UTC February 24th when war on Ukraine was declared
February 11th-25th, arrow at 3:00 AM UTC Feb 24th. Green: Defi/USD, Pink: Alt/USD

Cold but not freezing

As an algo trading firm it’s uncommon for us to share operational information, as much of it is ‘trade secrets’, but we’re glad to share that recently we’ve been completing improvements and upgrades to our various systems.

Black line is November 9th 2021. Green:DeFi/USD, Pink:AL/USD, Purple:MID/USD, Orange: BTC/USD
Most top 100 coins are down more than 75% from ATH. Source:Larry Cermak on Twitter
The green bars show the amount of Bitcoin flowing in and out of exchanges in aggregate daily across major exchanges (according to CryptoQuant blockchain analytics.)

News

  1. FBI launch cryptocurrency related crime-fighting unit
  2. EU Threatens to blacklist Switzerland due to money laundering concerns
  3. Ukraine legalizes cryptocurrencies
  4. Binance becomes 2nd biggest owner of Forbes magazine
  5. Canadian emergency rule allows freezings bank and custodial crypto accounts without court order
  6. Ukraine military group receive $1 million in Bitcoin donation

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Efficient Frontier

Efficient Frontier

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Leading research & algorithmic trading firm for the cryptocurrency markets efrontier.io