AcheronTrading Blog

The CLARITY Act Deal - What a Compromise on Stablecoin Yield Means for Crypto

2026-05-05T18:00:00+00:00

US Senate CLARITY Act breakthrough: Tillis-Alsobrooks deal bans passive stablecoin yield but protects usage rewards. Bitcoin tops $80K as regulatory fog clears.

February 2026 - A Month in Review

2026-03-17T11:07:00+00:00

State of the Market for Crypto throughout Feb 2026. How did a volatile month reflect on BTC, ETH and SOL

Market Update Summary - Mar 16

2026-03-16T16:39:00+00:00

SEC advisors back tokenized securities as Visa and Coinbase battle for AI agent rails. Market fear hits 15/100 despite ETH’s 12% rally.

Real-World Asset Tokenization - The Convergence of TradFi & DeFi

2026-03-12T16:48:00+00:00

RWA tokenization hits $26B in 2026. Discover how MiCA, GENIUS, and real yield data are driving the TradFi-DeFi convergence reshaping global capital markets.

Market Update Summary - Mar 09

2026-03-09T02:00:00+00:00

Crypto market fear hits 18/100 as BIP-110 sparks a battle for Bitcoin’s soul. Plus, Zero Hash seeks a US bank charter and smart money shifts to SKY and SYRUP.

Market Update Summary - Mar 02

2026-03-02T02:00:00+00:00

Crypto remains risk-off as BTC holds near $66K amid regulatory uncertainty and geopolitical tensions, while infrastructure resilience and adoption continues.

Market Update Summary - Feb 23

2026-02-23T02:00:00+00:00

Crypto stays in extreme fear as BTC holds near $67K and altcoins lag, while bank stablecoin expansion and low illicit usage highlight growing institutional adoption.

Market Update Summary - Feb 16

2026-02-16T02:00:00+00:00

Crypto sinks into extreme fear as BTC falls to $67K and major altcoins drop over 40%, despite ongoing DeFi and institutional infrastructure expansion.

Exchange Listing Performance - H2 2025

2026-02-10T02:00:00+00:00

Analyze H2 2025’s crypto shift: How the 10/10 event ended easy gains, shifting the market to a regime of venue quality, project depth, and compressed multiples.

Market Update Summary - Feb 09

2026-02-09T02:00:00+00:00

Crypto plunges into extreme fear as BTC drops to $70K, altcoins capitulate and China expands its crackdown on stablecoins and tokenization.

Market Update Summary - Feb 02

2026-02-02T02:00:00+00:00

Crypto markets turn fearful as BTC drops below $83K and altcoins weaken, while macro uncertainty rises despite steady institutional progress.

Market Update Summary - Jan 26

2026-01-26T02:00:00+00:00

Institutional crypto adoption accelerates through UBS, BlackRock and MiCA, despite renewed market fear and weak altcoin momentum.

Market Update Summary - Jan 19

2026-01-19T02:00:00+00:00

Bitcoin leads a crypto rebound as sentiment normalizes and institutional demand grows through regulated futures expansion.

Market Update Summary - Jan 12

2026-01-12T02:00:00+00:00

Regulation advances in South Korea and the UK lift crypto outlook as Bitcoin steadies, Solana rebounds and security breaches test market confidence.

Market Update Summary - Jan 05

2026-01-05T02:00:00+00:00

2026 opens with mixed structural signals. Altcoin season indicators heads into mixed regime.

Market Update Summary - Dec 29

2025-12-29T18:19:00+00:00

EU and Hong Kong push crypto regulation as markets stay risk-off. BTC drifts, ETH softens and SOL underperforms.

Market Update Summary - Dec 15

2025-12-15T02:00:00+00:00

XRP expands across ETH and SOL. IMF highlights stablecoin risks. Markets stay risk-off as BTC, ETH steady and SOL underperforms.

Uniswap v4 and the Future of Liquidity Provision: A Market Maker’s Perspective

2025-12-09T02:00:00+00:00

A technical deep dive into Uniswap v4’s hooks, singleton architecture, and flash accounting, and their impact on market-making efficiency.

Market Update Summary - Dec 08

2025-12-08T02:00:00+00:00

UK crypto law and major EU integrations boost infrastructure. Markets stay risk-off as BTC, ETH steady and SOL underperforms amid selective smart-money flows.

Market Update Summary - Dec 01

2025-12-01T04:00:00+00:00

Crypto markets stay pressured with BTC steady around $90K after ETF outflows. Smart money moves into ETH tokens. SGX unveils regulated BTC/ETH perp futures.

Market Update Summary - Aug 29

2025-08-29T17:30:00+00:00

Crypto markets mixed: BTC falls, ETH and SOL rally; CAMP surges post-listing; smart money rotates into Solana tokens; Google unveils finance-focused L1.

Extending Black–Scholes for Crypto Assets

2025-08-29T12:00:00+00:00

Crypto option pricing must evolve: tokenomics act as yields or jumps, reshaping valuations and implied vol beyond volatility alone.

Market Update Summary - Aug 22

2025-08-22T17:30:00+00:00

BTC and alts dip; ETH holds gains; smart money rotates into Solana tokens; Gemini wins MiCA license; Hyperliquid dominates DeFi derivatives.

Market Update Summary - Aug 15

2025-08-15T17:30:00+00:00

ETH leads 30D gains but drops sharply in 24H; SOL and altcoins see broad sell-off; smart money inflows mixed; stablecoin signals remain cautious.

The Data Behind Alt Seasons

2025-08-12T12:00:00+00:00

This article breaks down the key indicators that historically preceded and confirmed altcoin seasons, explains why they matter, and outlines what to watch next.

Market Update Summary - Aug 8

2025-08-08T18:30:00+00:00

ETH leads 30D gains but drops sharply in 24H; SOL and altcoins see broad sell-off; smart money inflows mixed; stablecoin signals remain cautious.

Market Update Summary - Aug 1

2025-08-01T06:30:00+00:00

ETH leads 30D gains but drops sharply in 24H; SOL and altcoins see broad sell-off; smart money inflows mixed; stablecoin signals remain cautious.

Stablecoins and the Inflationary Pressure of Yield-Backed Issuance

2025-07-31T07:30:00+00:00

This article explores how stablecoin issuance, when backed by yield-generating assets, may function analogously to credit expansion.

Market Update Summary - July 28

2025-07-28T12:30:00+00:00

ETH leads 30D gains (+51%) as BTC, XRP, and SOL cool; smart money flows turn mixed, while stablecoin levels suggest cautious but ready liquidity.

Market Update Summary - July 21

2025-07-21T12:30:00+00:00

Crypto markets show strong gains led by BTC, ETH, XRP; smart money favors small caps; stablecoin inflows point to rising risk appetite and liquidity.

Market Update Summary - July 14

2025-07-14T12:34:00+00:00

Crypto markets saw broad gains, with BTC, ETH, and XRP leading; smart money flows favor small caps, while stablecoin data signals rising liquidity

Market Update Summary - July 7

2025-07-07T10:01:00+00:00

BTC leads 30D gains (+3.18%) while ETH lags (-3.41%). SOL rises 3.94% over 7D. Smart money flows favor JITOSOL and SYRUP. Stablecoin inflows signal risk-on.

Economies of Web2 vs Web3 Gaming

2025-07-03T07:35:00+00:00

Web3 gaming is rapidly growing with a 69.4% CAGR, outpacing Web2. To thrive, it must learn from sustainable Web2 economies and prioritize player-driven design.

Exchange Listing Performance - June 2025

2025-07-01T07:00:00+00:00

Token debuts reveal market sentiment. Bybit leads with 67% win rate, Binance underwhelms at 29%. Listing activity dropped sharply to 9 projects in June 2025.

Market Update Summary - June 30

2025-06-30T09:14:00+00:00

Mixed crypto performance: BTC -1.37% (30D), SPX +3.73%. New listings: Sahara AI, Humanity, and 4 others. Texas approves first US state $10M Bitcoin reserve.

Weekly Market Update - June 23

2025-06-24T09:36:00+00:00

In this weekly summary we'll take a look at major token performance, newly listed projects, smart money flows, macro and crypto news.

Acheron Trading Secures CASP License under MiCA, Becoming The First Dedicated MiCA-Approved Market Maker

2025-06-11T10:28:00+00:00

Acheron Trading became the first CASP (Crypto-Asset Service Provider)-licensed dedicated crypto market maker under the Markets in Crypto-Assets Regulation.

A Status Report on Listings - EOY 2024

2024-12-31T10:00:00+00:00

As 2024 concludes, the cryptocurrency industry has reflected on several pivotal themes we forecasted a year ago.

The State of Digital Assets in Europe: The Market Maker Perspective

2024-08-14T13:24:00+00:00

It’s no surprise that there’s a burgeoning appetite for digital assets in Europe. The region has experienced significant growth, with rising investment volumes and user numbers set to continue.

Why I Founded Acheron Trading

2024-08-13T05:00:00+00:00

The integrity and morals that were impressed upon me during my childhood have informed the culture that we have at Acheron Trading.

Crypto Market Making: How to Weed Out Parasitic Operators

2024-07-07T18:00:00+00:00

Is every crypto a pump-and-dump scheme? Many people rightfully ask this question because one common theme users notice with nearly every new listing is a massive rise to unsustainable prices, followed by the cliche collapse, leaving participants holding the bag.

Exchange Listing Performance (June 2024)

2024-07-01T09:00:00+00:00

The listing market became oversaturated by mid-April as projects rushed to market during a return to the bull market. It is preferable to list when the number of primary listings is increasing rather than decreasing.

A Tale of Two Halves: From Music and Medicine to Market Making Laurent Benayoun, CEO

2024-05-22T10:10:00+00:00

The violin: the emblem of my adolescence I was born in France to immigrant parents—who fled their country of origin in what was a matter of life or death. Their experience shaped my childhood decisions. I played the violin because it’s an instrument you can carry.

Introduction of the Acheron Trading Index

2024-05-21T12:00:00+00:00

The Acheron Trading Index is designed to quantify market speculation and health by focusing on the performance of primary listings through an asset’s initial 100 days.

Exchange Listing Performance (April 2024)

2024-05-03T13:00:00+00:00

We analyze the performance of tokens listed on premier centralized exchanges.

Quantum Computing Poses Remote Risks

2024-03-17T14:00:00+00:00

Quantum computing is an exciting technology combining theoretical physics with practical engineering and computation.

Case Study: Chainflip, Demystifying Effective Pre-Market Orderbook Structuring

2023-12-20T00:20:00+00:00

The initial price discovery phase for a new token is often marked by significant volatility and speculation, presenting a unique challenge in balancing supply and demand on a large, public scale. The transition from private to public markets is most commonly facilitated via a centralized exchange’s pre-market order submission.

Analyzing Cryptocurrency Primary Listing Performance in 2023 (Updated November 8, 2023)

2023-11-14T11:37:00+00:00

We hold the view that a token's entry into secondary markets is a pivotal event. This transition offers valuable insights into actual demand, the community perception, and prevailing market conditions. For most tokens, this event will bring in the highest organic volumes and establishes the groundwork for subsequent price discovery.

Reshaping Loan & Call Option Strategies for a Healthier Token Ecosystem

2023-10-25T11:54:00+00:00

Is your market maker parasitic? Market makers play a critical role in ensuring liquidity is available on exchanges for token economies to operate effectively.

Acheron Trading announces the appointment of Laurent Benayoun as CEO and Director of the Board

2023-10-10T06:00:00+00:00

As of September 30th, 2023, Laurent Benayoun has been appointed as the new CEO

Analyzing Cryptocurrency Primary Listing Performance in 2023 (Updated August 11, 2023)

2023-08-16T22:58:00+00:00

Over the past month, we have incorporated 63 new listings, with 44 additions occurring in July and 12 in August so far. These listings have been primarily focused on three exchanges: Gate, MEXC, and Bitmart. Former high frequency listing exchanges, like KuCoin, have taken a significant step back alongside regulatory concerns.

Fundamentals: Types of Market Makers

2023-08-14T17:00:00+00:00

Cryptocurrencies have catalyzed a revolution in finance, championing decentralization. Market makers act as pillars supporting this evolution. In this guide, we will share the three prevalent market making structures: Principal Market Making, Designated Market Making, and Self Service Market Making.

Fundamentals: Liquidity and Price Discovery

2023-08-14T16:54:00+00:00

Liquidity forms the backbone of any successful project. It serves as the base for an efficient and orderly price discovery. This article emphasizes the importance of market makers as indispensable entities for projects aiming to guide their assets towards favorable price discovery in the context of liquidity.

Fundamentals: Basics of Market Making

2023-08-13T21:08:00+00:00

Without an adequate go-to-market strategy, even a quality project can be left in shambles, ending the journey before it has begun. Our industry is afflicted with advisors and actors who are heavily biased, leading to misguidance, poor decision-making, and inaction.

Transparency in Crypto Exchange Fill Volumes (Updated July 21, 2023)

2023-07-24T15:00:00+00:00

A cursory glance at token and exchange metrics on platforms like CoinMarketCap or CoinGecko may give the impression that the trading volume has only slightly declined since the peak of the last bull run in 2021.

Analyzing Cryptocurrency Primary Listing Performance in 2023 (Updated July 6, 2023)

2023-07-07T00:00:00+00:00

We believe that a token’s primary listing is one of the most important events in a project’s history. For most tokens, this event will bring in the highest organic volumes and establishes the groundwork for subsequent price discovery.

Analyzing Cryptocurrency Primary Listing Performance in 2023 (Updated June 6, 2023)

2023-06-07T00:00:00+00:00

We believe that a token’s primary listing can be considered one of the most important, if not the most important, moments in a token’s price performance. For most tokens, this event will bring in the highest organic volumes and establishes the groundwork for subsequent price discovery.

Stablecoin Review

2022-12-20T00:00:00+00:00

Diversifying stablecoin holdings across the top three is a prudent approach, with USDC and BUSD preferred as a secure store of value and USDT held for trading.

Alameda-FTX Situation Awareness - Actions and Outlook

2022-11-14T00:00:00+00:00

As the market contagion from the FTX & Alameda fallout spreads, we at AcheronTrading would like to reiterate our goals related to the management of client accounts and share our perspective on the situation.

AcheronTrading is excited to announce the acquisition of HedgeTech LLC

2022-11-03T00:00:00+00:00

The acquisition of HedgeTech comes as a natural step in the steady growth of AcheronTrading.

The Merge - Strategy & Caveats

2022-08-24T00:00:00+00:00

Mid-September, Ethereum is expected to transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

Flood Warning

2021-12-02T14:37:00+00:00

November has brought a massive surge in primary listing performance and catalyzed a flood of new tokens entering the market.

Traders like CEX

2021-11-02T04:13:00+00:00

Building on my previous article, Analyzing the "First-Day Pop" in Digital Asset Markets; a Market Maker's Perspective, I'd like to update our view of the current market for primary listings and where price discovery and liquidity are moving.

Analyzing the "First-Day Pop" in Digital Asset Markets; a Market Maker's Perspective

2021-08-30T00:00:00+00:00

The “first-day pop” or “IPO pop” is one of the more commonly cited IPO success measures and indicators of market health in traditional securities markets.