Presto

"State of the Korean Crypto Market" partnership with Kaiko Covering: ➡ The history of the Korean market ➡ Virtual Asset User Protection Act (to be implemented on July 19th) ➡ Current status (Kimchi Premium & Listing Pump) ➡ Major players including exchanges and projects Read the full article for more. https://lnkd.in/gNJfjP37 Subscribe to us for regular updates. Telegram: https://lnkd.in/giVsjdSy Newsletter: https://lnkd.in/gF9SzT3t

Peter Chung, Head of Research at Presto Research was recently quoted on CoinDesk and The Block on market events surrounding Mt. Gox repatriation and German Government sell-off. 📌CoinDesk article: https://lnkd.in/geXw7sXY 📌The Block article: https://lnkd.in/gZZgXiS6

Are you heading to Brussels for EthCC? We are co-hosting an event July 11th with Telos, Ponos, Avail, RiscZero and Ankr. Our investment team members Nicholas Koh, Glen Aw and Head of Investment Ian Lau will be at the event. For more information: https://lu.ma/z8zx7ydf

Hello from Kyoto! Presto colleagues are on the ground to engage with Japan’s booming crypto community. Reach out to our team at IVS Crypto Kyoto 2024 venue. Amy Leem Elena Kang Rick M #IVS2024 #IVSCrypto

We are thrilled to announce our collaboration with Presto Research, producing co-branded research reports focused on Asian crypto markets. By combining Presto Research's regional expertise with Kaiko's Industry-leading data, we aim to deliver valuable intelligence to market participants, investors, and researchers interested in the Asian crypto ecosystem. Starting with the research reports "The State of the Japanese Crypto Market" and "The State of the Korean Crypto Market". Read more below 👇

Optimizing Risk-Adjusted Return in Constructing Portfolios of Alphas ➡ Modern Portfolio Theory (MPT), developed by Harry Markowitz in the 1950s, is essential in investment management, providing a framework for optimizing the balance between risk and return through diversification. ➡ Alphas in statistical arbitrage refer to systematic trading signals that predict relative asset price movements. ➡ Constructing a portfolio of alphas involves combining multiple alphas to create a diversified and optimized strategy, reducing the risk associated with any single alpha and benefiting from internal trade crossing and position netting. ➡ Risk-adjusted return maximization measures investment efficiency by considering both return and risk. ➡ The empirical analysis, conducted using over 800 alphas in the Binance USDⓈ-M market, compares different weighting methodologies. Results show that strategies optimized for risk-adjusted returns outperform equal-weighted strategies, highlighting the importance of optimization in portfolio construction. Read the full article for more: https://lnkd.in/g75rFCeN Subscribe to us for regular updates. Telegram: https://lnkd.in/giVsjdSy Newsletter: https://lnkd.in/gF9SzT3t

Crypto Derivatives Series I: Futures ➡ In Series I of the Crypto Derivatives research between Presto Research and Laevitas, we explore the world of futures, both term and perpetual.  ➡ Futures allow traders to trade both sides of the market, long and short, with leverage. ➡ The introduction of futures into crypto was transformative for the overall market, and in particular, perpetual futures introduced by BitMEX in 2016, have taken over volumes, averaging over $90B/day across all exchanges since mid-2021. ➡ In 2024, despite BTC’s all-time-highs and excitement over the spot ETF, volumes on a price adjusted basis have not returned to what they once were. ➡ The CME on the other hand, which only offers term futures in BTC and ETH, have benefited from the recent narratives, becoming the #1 exchange in both term futures volumes and open interest, as well as a top 5 exchange in total derivatives volume. Read the full article for more: https://lnkd.in/gTGS8wAc Subscribe to us for regular updates. Telegram: https://lnkd.in/giVsjdSy Newsletter: https://lnkd.in/gF9SzT3t

Presto Digital Fund 1 Performance Update: April 2024 We are thrilled to announce a performance update for Presto Digital Fund 1, our multi-strategy fund focused on digital assets. Performance: April 2024 marked another month of exceptional performance for Presto Digital Fund 1. The fund delivered a return of 12.16% and 9.85% for GP Class and Class B respectively. We are proud to report that Class B has maintained its streak of positive monthly returns since the fund's inception, showcasing the resilience and consistency of our investment strategies. Our fund continues its stellar performance as it has delivered more than 300% over the year, with current year-to-date (YTD) return at 100.81% and 9.46 Sharpe Ratio for GP Class. Despite the turbulent market conditions since April, our fund continued to outperform thanks to the unwavering commitment to excellence demonstrated by our talented team of engineers and traders. Their expertise, combined with our disciplined risk management practices, has allowed us to navigate the volatility of the digital asset market successfully. The fund continues to deliver strong returns for May. Our team is focused on enhancing our highest caliber data-driven investment edge with additional investment into AI and trading infrastructure. We remain committed to delivering exceptional risk-adjusted returns for our investors and to maintaining our position as a leader in the digital assets investment space. Industry Recognition: We are honored to announce that Presto Digital Fund 1 has been recognized by BarclayHedge as the top-performing fund in the cryptocurrency sector for the month of April. This marks the second time this year that our fund has received this prestigious recognition, further validating our investment approach and the skill of our team. Disclaimer: This material by itself, is not and should not be construed as an offer or a solicitation to deal in any investment product or to enter into any legal relations. Prior results that are presented here are not guaranteed and prior results do not guarantee future performance.

How big will be the market for Ethereum spot ETFs? We predict $3.6 billion flow into newly listed Ethereum spot ETFs over the next 12 months. Here are key factors to consider 👇 1. How convincing is 'world computer' narrative to new money/old money investors? 2. Do they need a second crypto asset exposure? 3. Are they willing to forgo staking yield? Many analysts currently estimate that spot ETH ETFs will capture around 20% of the spot BTC ETF flow, equating to $7 billion annualized. We propose a more granular approach, examining Ethereum's attributes that justify a discount in the eyes of TradFi investors. We look into each question and add our assumption to develop our model. Read more for detail 👇 https://lnkd.in/gSXBvt-7

Cross-chain bridges have greater risk than the bridge itself. Even if the bridge is secure, assets can still be stolen. Here's why👇 ➡ A cross-chain bridge is a technology that allows assets and data to be transferred between different blockchain networks, enabling interoperability among them. It usually works by locking assets on the source blockchain and minting equivalent tokens on the destination blockchain, or by using liquidity pools to facilitate immediate exchanges. ➡ However, because a cross-chain bridge comprises multiple components such as oracles and validators, it exposes several attack vectors to hackers. Numerous well-known bridge exploits through smart contract vulnerabilities (e.g., Wormhole, Qubit) and validator takeovers (e.g., Ronin) illustrate this risk. ➡ Even if there are no vulnerabilities in the bridge protocol, users can still have their funds stolen through Border Gateway Protocol (BGP) hijacking (i.e., exploiting the underlying network layer) if the bridge service’s network provider lacks proper authority over the IP address ranges. Find out more on our latest Blockchain Focus research. https://lnkd.in/gZjB5BZY