CCData

We’re thrilled to announce that CCData and CryptoCompare have been acquired by CoinDesk, the leading media, events, indices, and data company in the digital asset sector. This acquisition represents a significant milestone for us enhancing the value we provide to our clients and unlocking exciting new opportunities for our combined network of users. Over the last ten years, CCData's industry-leading data and index solutions have supported a broad network of users alongside some of the most innovative companies operating in the sector, including government, institutional, and digital asset clients alike, with CryptoCompare’s retail website serving as the go-to resource for retail market participants. This acquisition will not only bolster CoinDesk’s existing data offerings but also create new opportunities within its growing media, data, and index business. You can read the full announcement here: https://lnkd.in/ePTx_TS3

It was a mixed October for the digital asset markets. Bitcoin (BTC) approached all-time highs amidst surging speculation, yet our tracked baskets largely struggled, with many seeing double-digit losses. Despite the excitement, BTC dominance hit 57.3%—its highest since 2021—redirecting volumes and sentiment away from Altcoins toward the leading digital asset. As we round off October, only Memecoins (+0.3%) have managed a positive performance, with DOGE carrying the basket into positive returns for the month. Conversely, AI (-12.59%), Staking (-14.03%), RWA (-14.44%) and Layer 2s (-14.47%) lag the market heavily, with BTC retracing from its recent monthly high, and many Altcoins pulling back into the monthly close. As the US Presidential Election approaches, we expect to see heightened speculation in the form of intraday volatility, as options data suggests increasing volume and open interest on CME Bitcoin Options and Perpetual. The question is whether this speculation is reflected in Bitcoin alone, or if we will see flows back into Altcoins.

Our latest #Stablecoin & CBDCs Report is live, providing insight into recent stablecoin developments, market capitalisation, trading volumes, peg deviations and more! In October, the total stablecoin market capitalisation rose 0.05% to $173bn, recording the thirteenth consecutive increase in the end-of-month market cap. This brings the industry closer to levels not seen since the collapse of Terra Luna in May 2022. Key Findings: 🔹 Stablecoin trading volume on centralised exchanges declined slightly by 1.49%, settling at $899bn (as of the 27th), yet volumes are on track to record a higher monthly total. 🔹 Market capitalisation of Maker DAO’s new stablecoin, Sky Dollar (USDS) rose 66.0% to $1.02bn, making it the 16th stablecoin to surpass the $1bn landmark. 🔹In October, the market capitalisation of Euro Coin (EURC) rose 47.9% to $95.7mn, recording the third consecutive increase in market capitalisation and a new all-time high for the stablecoin. 🔹In October, TetherUSD (USDT) reached a record high with a market cap increase of 0.57% to $120bn, marking its fourteenth consecutive monthly gain and securing a 69.6% market dominance. For additional insights into Stablecoins & CBDCs, make sure to download the full report: https://lnkd.in/gwr6CX_B

This week's COTW, we analyse Bitcoin's gains in price and market dominance, indicating a significant shift in the crypto landscape. At the start of 2024, Bitcoin traded around $44,000 with a market dominance near 50%. Earlier this week, it surged to past $73,600, lifting its dominance to 57.3%. This year, Bitcoin’s performance has outpaced most altcoins, driven by strong institutional demand. CME has dominated BTC open interest, recently hitting a new all-time high. The upcoming US election and recent developments including a new BRICS proposal exploring the potential use of Bitcoin for international payments have further bolstered its value. You can find all previous Charts of the Week here: https://lnkd.in/eArJ_DZG

HKEX is launching the HKEX Virtual Asset Index Series, supporting Hong Kong’s development as Asia’s leading #digitalassets hub. The Index Series will provide investors with reliable benchmarks for #Bitcoin and #Ether pricing in the Asian time zone and will go live on 15 November 2024. For more information, please visit: https://lnkd.in/gtmmzVxg

We are excited to announce our role as the Calculation Agent and Administrator for the newly launched HKEX Virtual Asset Index Series. Scheduled to go live on November 15th, these indices represent the first EU Benchmarks Regulation (BMR)-compliant virtual asset index series developed in Hong Kong. Calculated and administered by CCData, these indices are underpinned by our rigorous data selection process, leveraging our Exchange Benchmark methodology to provide highly robust real-time and EOD reference rates. The indices include: 🔹 HKEX Bitcoin Reference Index 🔹 HKEX Ether Reference Index 🔹 HKEX Bitcoin Reference Rate 🔹 HKEX Ether Reference Rate We are proud to be a part of this new initiative, introducing essential virtual asset benchmarks for the Asian market to enhance transparency through reliable data and pricing, broadening opportunities for market participants across the region. Learn more: https://lnkd.in/ehNpeGpH

As October ends and the U.S. Presidential election nears, we’re seeing mixed results across tracked baskets. Centralised exchange volumes are set to exceed September’s total, showing increased participation as Q4 begins. Focusing on Bitcoin, we note an all-time high in BTC Open Interest on centralised exchanges, reaching roughly $45.8bn, as BTC’s price coincided with $68,370. This tied in with CME capturing the largest share of BTC Open Interest, reaching 31.1%. Amidst this heightened speculative activity, we observe muted performance across Altcoin baskets. Amongst the baskets, only Metaverse/Gaming and Infrastructure have maintained a positive MTD return of 2.62% and 0.82% respectively. Lagging the baskets, RWA (-12.79%) and Layer 2s (-9.02%) underperformed. Memecoins, the best-performing basket YTD (238.18%) has been the third-best this month with a return of -0.36%. In spite of high volumes and speculation, attention remains focused around Bitcoin, attracting most institutional interest through CME Futures and Options. This has tempered the typical volatility we might expect from Altcoins going into November.

On October 19th, the Bitcoin open interest on centralised exchanges recorded a new all-time high of $45.8bn coinciding with an 8.1% surge in Bitcoin’s price to $68,370 from the previous week. CME, the institutional exchange, captured the largest share of open interest among all centralised exchanges, accounting for 31.1% of the total. The increase in open interest highlights the optimism as Bitcoin nears its previous all-time high. Positive catalysts such as easing macroeconomic factors and the upcoming US presidential election in November are helping to fuel this rally. Explore all previous Charts of the Week here: https://lnkd.in/eArJ_DZG

Analysing October’s month-to-date performance in Week 3, we see quite varied performance across the baskets, with only Memecoins, Infrastructure and Exchange Tokens achieving positive returns thus far. As has been the case throughout the year, Memecoins have outperformed in the month, registering 4.81% returns so far, driven primarily by DOGE (+17.37%), which has rallied as traders rotate into more established Memecoin picks within a market that has been largely dominated by new cycle entrants. Although we tend to see Memecoins and AI dominating mindshare and running together, AI has been the worst performer in October thus far, down -9.11%; with the FET and RENDER dragging the basket down. So far, October has been characterised by rising Open Interest (OI) and speculation with OI on centralised exchange rising by $3bn, over 10% since the start of the month. In addition, the CME’s Bitcoin Futures instrument has just achieved an all-time high in OI, underscoring the increased institutional participation this month.

After ten incredible years of building market-leading data solutions, I’m excited to announce that CCData and CryptoCompare have been acquired by CoinDesk! It’s been a remarkable journey since 2013—what started as a vision to bring clarity and trust to the world of digital assets has evolved into a platform that has served thousands of institutional and retail users. From our early days of pioneering crypto data standards to powering some of the industry’s most innovative applications, like VanEck’s #HODL ETF, we’ve always pushed the boundaries of what’s possible in this rapidly evolving space. While this acquisition marks a new era for us, our mission remains the same: to drive market trust, transparency, and innovation. Rest assured, the transition will be seamless for our clients and partners as we continue to deliver the institutional-grade data you’ve come to rely on. Thank you for being a part of this incredible journey. I look forward to meeting our new colleagues at CoinDesk and am eager to see what the future holds for all of us! A special thanks to MarketVector Indexes, VanEck, and all our other investors, as well as to everyone who believed in us along the way—clients, partners, and especially our employees, without whom none of this would have been possible. You can read the full announcement here: