Providing trusted information, from all markets, on all networks. 🗓️ Explore The Agora, Kaiko’s institutional forum @TheAgora_Event ✍️ app.kaiko.com
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Zcash has moved from the fringes of crypto into the top 10 by market cap.
ZEC has gained roughly 2,076% since the start of 2025, while daily spot volume nearly tripled around the launch of @Grayscale's spot ZEC ETF.
The rally shows how wider access and renewed demand for privacy have reshaped the market for ZEC.
ALT ZEC Spot Volume Tripled Around ETF Launch
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Read the full data debrief 🔗 app.kaiko.com/data-debriefs/…
ALT ZEC Spot Trading Volume Compared to SOL and XRP
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Tokenization is here, and traditional finance is investing in the data infrastructure to make it real.
Watch CEO of Kaiko, @ambresoub, explain why data is critical for tokenized markets: piped.video/watch?v=NG4GqsaU…
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Kaiko has joined the industry Taskforce supporting the UK’s Wholesale Digital Markets Champion, the initiative led by @hmtreasury to build a leading tokenized wholesale financial markets ecosystem in the UK.
As part of the Task Force Action Group 2, Kaiko will contribute its expertise in institutional-grade market data and data infrastructure to the development of practical secondary-market use cases.
Read the full announcement here 🔗 kaiko.com/news/kaiko-joins-t…
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Congratulations to @SPGlobal and @SPGlobalRatings on their Aave report, built on Kaiko data.
The day before the 10/10/2025 crash, 98%+ of TVL sat in positions with a health factor above 1. By September 2026, Aave held $19.2B, a third of DeFi lending.
Read the full report 🔗spglobal.com/en/research-ins…
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The Agora is back.
Our first edition drew 800+ attendees, more than 40% of them C-level. The second will be on April 13, 2027, at the Palais des Festivals, and the only way to join is by getting your name on the guestlist.
Join the guestlist: đź”— agora.kaiko.com/guestlist
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One year after crypto’s largest liquidation event, the market still hasn’t fully recovered.
BTC perp open interest remains roughly 16% below pre-crash levels in BTC terms, while dollar-denominated spot depth is 27% lower.
Leverage has fallen faster than liquidity, leaving 20% less leverage per dollar of market depth than before October 10.
ALT Bitcoin leverage is lower relative to liquidity
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A look back at our @Sibos 2026 dinner in Miami.
During Sibos, Kaiko co-hosted an intimate dinner with @ledger_business and @chainalysis joined by @FrancisSuarez. The evening brought together leaders across banking, custody, and digital asset infrastructure.
Thank you to everyone who joined us for the evening.
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21shares has launched CLAU, an ETP tracking Anthropic’s implied pre-IPO valuation, listed on the Vienna MTF.
It is priced on the Kaiko Anthropic USD Reference Rate, calculated daily from @binance's @AnthropicAI perpetual futures.
@21shares @FalconXGlobal @KaikoData
kaiko.com/news/kaiko-brings-…
Before an IPO there is no listed share price, so the ETP’s net asset value relies on a rate from an independent benchmark administrator.
“Kaiko’s role is to provide 21shares and FalconX with an objective, transparent reference price,” said Anne-Claire Maurice.
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Anthropic pre-IPO perps across 5 exchanges: $57M open interest, implied valuation $2.04T-$2.11T.
But venues disagree, with a median 3.5% gap between the highest and lowest quote. SpaceX's gap shrank from 4.8% to 0.2% at listing.
Kaiko tracks these exchanges 24/7.
ALT OKX and Gate Quote Anthropic 3% Above Other Venues
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Kaiko computes benchmarks for pre-IPO markets using 24/7 market data. Whether you’re issuing products that track pre-IPO companies or need better visibility on these markets, reach out to the Kaiko team.
đź”— kaiko.com/contact-kaiko
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Impressive momentum from @Temple_NY.
The growth in spot trading activity highlights the progress being made in Canton-native market infrastructure.
By collecting trading data from @CantonNetwork, we're helping bring greater transparency and visibility to activity across the network.
Exchange infrastructure native to Canton is scaling.
@Temple_NY's daily spot trading volume has grown roughly 955% since May, from about $2M to over $21M, accelerating after Virtual Orderbooks launched for custom venues.
Full analysis from @KaikoData in this month's newsletter.
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Anthropic’s pre-IPO market is already attracting meaningful capital.
Open interest rose from roughly $11M to $57M in two months, a 5.1x increase, with Binance accounting for 68% of the total across five major exchanges.
With no public share price yet, these markets are becoming one of the few places where traders can express a view on Anthropic’s valuation.
ALT Anthropic Pre-IPO Open Interest Reached $57M
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Kaiko joined the @CantonFdn Sub-Committee to help move tokenized collateral from pilots to acceptance at CCPs.
Every haircut and margin call starts with a price all counterparties trust, and we bring that pricing data onchain.
Read more: 🔗 kaiko.com/news/kaiko-brings-…
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71% of tokenized stock volume on @Uniswap traded outside regular U.S. market hours in September.
Nearly half traded while exchanges were fully closed, pushing price discovery into overnight, weekend and holiday sessions.
The demand for 24/7 equities is already visible onchain.
ALT About Half of Tokenized Stock Volume on Uniswap Trades While U.S. Exchanges Are Closed
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Kaiko has received an Honorable Mention in the Swift Hackathon 2026, announced at @Sibos in Miami.
Our submission set out the roles and information flows behind tokenized money market funds, in a model aligned with ISO 20022.
kaiko.com/news/kaiko-receive…
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