Cosima Research

$ETH ETFs

Weekly net flow = +$512.8m

Highest weekly inflow since inception… 🐂

Perspective

https://x.com/goingparabolic/status/1856108713125306373?s=52

✴️#BTC #mining #costprice
the average cost of mining bitcoin among the largest publicly traded mining companies has fallen to $49,500 — CoinShares
————————————
#opinion Bitcoin is often regarded as the new gold. If this assertion holds true, its price-to-mining-cost ratio should be similar to that of gold, which is approximately 1.5 (chart)

Bitrace released the "2024 Web3 Anti-Fraud Handbook". This Handbook is based on numerous real-world investigations into crypto fraud cases and provides a breakdown of the most prevalent fraud techniques currently in use. Its aim is to help both individual investors and non-industry participants at various levels of involvement identify and avoid crypto fraud, safeguarding their assets. —link

https://x.com/jerallaire/status/1848809410379784298

https://research.tren.finance/the-great-tokenization/

All about real world asset tokenization

https://x.com/a16zcrypto/status/1846586491171975681?s

https://x.com/CarpeNoctom/status/1847099369490706784

https://x.com/EricBalchunas/status/1845944946991276494

According to News1, the Korean Virtual Asset Committee will be established this month and plans to hold its first meeting as early as this month to discuss issues such as the approval of virtual asset spot ETFs and corporate virtual asset investments. — link

Sharing 13 high confidence wallets with $27.75M tied to MustStopMurad so people can track them. I made a longer post on X/Twitter explaining my rationale behind mapping out this cluster of wallets.

ETH
0x6b411100c72ba2445e50ffd20839c28b3546de7c
0xcbd0dee0c3eed152c3398b062361becc4a15522b
0x13fc38ec99a8217a06d1dc6db8c0bf0ee97ebf7f
0x71b4fd11eef705ba60176e7c034cd1a4f97ae02d
0x30b46a659761b576a00028b44d1e37fdc64b034d
0x5b1569db234a0f2884814a3f7184f01cf641b0c6
0x464e0a666734ba93e231d929ace538eaf05ff424
0xdb47714727cba70f0408ba30dc4ea0b5ac436055
0x52ba2171d6d0aaf6e817769b9d54576e79a98d1a

SOL
7QZGS7MQ4S6hRmE8iXoFTXgQ2hXVUCho2ZhgeWvLNPZT
GyBkVYkHBPMapyQeueQ6d44YthwqYiX4ajgnGLqq9P7r
2xn57hPD2v6ighJFPXNPSoiGUXkW4KKo8Hb3NpXmHZvZ
D38TJXnQuqAapH7uqhrHVj3AixHjtkB8DWT78m29WdPc

The UAE Federal Tax Authority (FTA) announced on October 2nd the revision of the country's VAT rules, which include VAT exemptions for virtual assets. The exemptions for virtual assets will apply retroactively from January 1, 2018, and virtual asset companies should pay attention to the recovery of VAT. — link

I went and attributed 15 exchange hot wallets on Starknet so they would be publicly tagged on block explorers as I noticed none were previously tagged anywhere (sharing them below).

Which ecosystem should I do next?

Any interested teams send me a message on X/Twitter.

Binance 0x0213c67ed78bc280887234fe5ed5e77272465317978ae86c25a71531d9332a2d
OKX 0x0269ea391a9c99cb6cee43ff589169f547cbc48d7554fdfbbfa7f97f516da700
Bybit 0x076601136372fcdbbd914eea797082f7504f828e122288ad45748b0c8b0c9696
Kraken 0x620102ea610be8518125cf2de850d0c4f5d0c5d81f969cff666fb53b05042d2
Kucoin 0x0566ec9d06c79b1ca32970519715a27f066e76fac8971bbd21b96a50db826d90
HTX 0x03fd14213a96e9d90563ebe1b224f357c6481a755ee6f046c8ce9acd9b8654a7
MEXC 0x069a7818562b608ce8c5d0039e7f6d1c6ee55f36978f633b151858d85c022d2f
Gate 0x00e91830f84747f37692127b20d4e4f9b96482b1007592fee1d7c0136ee60e6d
Bitget 0x0299b9008e2d3fa88de6d06781fc9f32f601b2626cb0efa8e8c19f2b17837ed1
HitBTC 0x04b555a99b585adf082754e5ea36e4202f13efa649e6ac16dfe8c0e217c454bc
CoinEX 0x00fb108ed29e1b5d82bb61a39a15bbab410543818bf7df9be3c0f5dd0d612cf3
ChangeNow 0x062b6edccf9d86aff918634e53f3fac9545a8bcf84bcb59a0a09f9194d18282d
XT 0x0786c463590ca32345e0118a0303a8f66af10882d7315ce282840feb5d6817f9
Bitrue 0x01a103074e6ea2f988b427c77e671207c20d6005d407a685eeee2e1f61028392
Bitmart 0x04de639e634c071c3ce8b1c69fac0500aab5ddb25a08fd0f757176243e4c0467

TAC to Announce New Member Cohort and Release of 2024 State of Tokenization Report
The Tokenized Asset Coalition (TAC) released its second State of Tokenization Report, highlighting industry insights and welcoming 21 new members, bringing its total to over 40. The report covers regulation, institutional adoption, and innovations, noting that tokenized assets could reach $2-30 trillion in the next decade. Currently, tokenized assets are valued at $176 billion.
- Link

https://www.piratewires.com/p/inside-biden-admin-plot-to-destroy-silvergate-and-debank-crypto-for-good-nic-carter

Update: Malone (Greavys) and Box (Jeandiel) were just indicted

https://www.justice.gov/usao-dc/pr/indictment-charges-two-230-million-cryptocurrency-scam

https://x.com/dgt10011/status/1837278352823972147?s=52&t=lRxHtEPsa4nM4NTdveNaVA

https://x.com/zerohedge/status/1836468804630524270?s=

https://x.com/RasterlyRock/status/1834248148409352247?s

https://x.com/growing_daniel/status/1830452075148587136?s=52

PSA: Mac users warned about 'Cthulhu' malware targeting popular crypto wallets like MetaMask, Coinbase, and Binance. - CoinTelegraph

QCP: For equities, momentum traders and trend-followers are reportedly re-leveraging, amplified by August's lower liquidity. Corporate share buybacks have surged to $1.15 trillion this year. Goldman Sachs' trading unit has seen record client demand for dips. The market is eerily optimistic with US equities at all-time highs and Asian equities largely in the green today in anticipation of an imminent rate cut and a soft landing. However there are still signs of nervousness as the options market is pricing in a 1% swing on the S&P 500 for Powell’s Jackson Hole speech this Friday. In contrast to equities, crypto sentiment is strikingly bearish. BTC perpetual funding rates dropped to -13% over the weekend, the lowest since 2022. U.S. elections remains a key focus, with BTC skew favoring puts pre-election, and a steep 6-point vol spread between pre- and post-election expiries. Kaiko: Ethereum’s gas fees have recently hit five-year lows. This fee reduction has implications for ETH, as lower fees mean less ETH is burned, increasing the token’s supply. ETH’s total supply has risen consistently since April. Despite demand drivers like spot ETH ETFs, this growing supply could dampen potential price increases in the near term. Glassnode: The LTH Sell-Side Risk ratio remains lower than during previous ATH breaks, indicating that the LTH cohort is taking smaller profits compared to past cycles. This suggests they may be waiting for higher prices before increasing their selling pressure. Greekslive: Block trading, which has been dormant for days, is back on fire, with significant growth in block trades traded today, with a notional value of over $500 million. From the distribution of options, the main focus is on selling call options and buying put options.

Derivative Trader Commentary: Perpetual funding rate indexes are both negative and look negative across the major exchanges. Short dated basis has followed with BTC September and short solidly under 10% and this week 3.3% (although with a negative perp basis, maybe that is higher than it ought to be). ETH Basis is lower still with 8/23 negative, 8/30 under 2%. December and longer basis is decidedly higher for both assets. Implied volatility is a bit lower than we ended the week but still low 50’s for BTC and low 60’s for ETH. Longer dated volatilities are higher and skew to match. This solves a bit of the mystery of the longer dated basis being high in spite of low funding rates: flows like buying longer dated calls. That said, puts are favored in ETH all the way to October options and for BTC September. After that, back to what has been the norm — long dated call buying.

BTC ATM IV
1W: 48.96%
1M: 51.3%
3M: 60.1%
6M: 62.57%
Deribit Volatility Index: 53.45
Index Price: $60918.76

ETH ATM IV
1W: 59.22%
1M: 62.12%
3M: 70.67%
6M: 72.64%
Deribit Volatility Index: 64.56
Index Price: $2666.55

SOL ATM IV
1W: 78.0%
1M: 86.48%
3M: 88.88%
6M: 89.47%
Index Price: $147.1558

"The information in this message is for information purposes only and not to be construed as investment or financial advice. All information contained herein is believed to be accurate and is not a solicitation or recommendation to buy or sell any digital assets or other financial products."

https://x.com/bitcoinmagazine/status/1825853692744012252?s=12

https://x.com/zachxbt/status/1824047425822310580

https://x.com/thestalwart/status/1819355060792443207?