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Efficient Frontier
3,301 posts
Efficient Frontier
@efrontier_io
Leading Cryptocurrency Market Maker, 24/7/365 since 2017
Joined December 2018
- If you are heading to @eth_milano, come say ciao to our Head of GTM @TJ_Freed. We have some exciting new product innovations the we will be starting to launch there ๐
- When "Minimum Spread" becomes a maximum problem. In a bear market, tokens often "lose a decimal." If an exchange doesn't adjust the tick size accordingly, your minimum possible spread becomes a wall. You could have $100M in liquidity, but if the tick size is too large, your
- We have just completed a 1 month funding rate trade for a client. Their funding rate reached -120bps and then sporadically jumped over the space of the month. Thankfully we were there to deal with this. The result? -Client earned 22.44% on $500k in just 1 month. -Price
Volatility is back in crypto, and positioning matters more than ever. With Bitcoin and Ethereum implied vols at 12โmonth highs, weโre potentially seeing an end to the prolonged chop thatโs defined the market for the last few months. The rise of Hyperliquid and other perp DEXs - Volatility is back in crypto, and positioning matters more than ever. With Bitcoin and Ethereum implied vols at 12โmonth highs, weโre potentially seeing an end to the prolonged chop thatโs defined the market for the last few months. The rise of Hyperliquid and other perp DEXs
- โBear markets are for building.โ โWeโre just shaking out the tourists.โ The soundbites are nice, but detached from what is actually happening in the books. The reality? A bear market is a liquidity war. If you aren't in survival mode, you won't be around to capitalize when the
- Planning a token launch involves more structural decisions than most teams expect. This guide covers 125 launches and breaks down what actually drove outcomes. If you're preparing for a TGE, this is one of the most thorough resources out there.We analyzed 125 token launches and spoke with 25+ founders to learn why 85% of tokens launched in 2025 ended the year negative. Only 9.4% of tokens that declined in their first week ever recovered. What drove Week 1 relied on decisions founders often overlooked. The guide
00:00 - Gold and silver saw a sharp, disorderly selloff yesterdayโsilver down 28%, gold down 8%+. At first, BTC and crypto looked strangely calm by comparison. That calm turned out to be a delay, not a decoupling. Crypto has since followed through: BTC is at $77,650 (down 13% over 7
- The CLARITY Act delay extends the regulatory gray zone we've been navigating for yearsโregulation by enforcement rather than statute. Despite bi-partisan support, Senate revisions fractured industry consensus by undermining core market structure goals. If passed, this bill would
- Altcoin market making has changed. This cycle never had an altseason. 2025 saw liquidity get sucked up by a final few memecoin scams, some large token launches, and crypto DATs & equities. Then we had October 10th to kick alts while they were down. Alt coins need to change
- Thereโs been a lot of discussion around Maduro and why Bitcoin didn't really react in the first 2 days, climbing a mere 1% in the first 36 hours. That is, basically flat. At the same time oil prices had drifted lower on expectations of increased supply and US energy stocks have
- Donโt follow the experts. Follow the tape. Hereโs a sample of expert price predictions of BTC for 2025: โข JPMorgan: $170,000 โข VanEck: $180,000 โข Standard Chartered: $250,000 โข Tom Lee: $250,000 โข Chamath: $500,000 โข Pomp: $500,000 โข ARK: $650,000 โข BlackRock: $700,000
- We donโt like this chart. But itโs important. Bitcoinโs macro correlations decoupled around the Oct 10th crash. Since then: Rates down โ Bitcoin down Equities up โ Bitcoin down This cycle, BTC traded like levered Nasdaq. Breaking from speculative liquidity hurts, especially
