🟪 Paradigm Block Insights (Week 42)
As the market consolidated after digesting the first week of BTC ETFs going live, BTC IV grinded lower especially in the front end of the curve with 1w IV grinding to a low of 72 from the peaks above 120 last week.
🌊 Core Flows - BTC:
Flow-wise, 2 distinct groups of activity dominated:
(1) Interest in topside in BTC covering a range between 70k up to 120k via both outrights and spreads.
(2) Downside protection via <1 month spreads covering a range between 60k/50k.
🌊Core Flows - ETH:
In ETH this week, flows over Paradigm continued to lean bullish with call spreads the preferred topside expression.
High volumes were traded for the Nov21, Dec21, and Mar22 expiries with a focus on strikes between 5k & 10k.
In Nov 20, @tradeparadigm launched v1 of our flagship RFQ product.
The product was an immediate success and drove a ~5x growth in volumes.
Next week we will launch v2 of our RFQ (GRFQs). Here's why we built v2....<7 months later