Gauntlet | Jupiter Markets Update: 7-Day Insights (2024-10-21 through 2024-10-28)

Research Risk
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Jupiter Markets Update: 7-Day Insights

Summary

Gauntlet is regularly posting rolling seven-day market updates to notify the Jupiter community about:

  1. Trader PnLs - signaling the health of the ecosystem and market dynamics;
  2. Market competitiveness with Binance (leading CEX) - indicating Jupiter’s position against the most liquid venue for trading perpetuals;
  3. JLP price and Sharpe ratio vs JLP index - demonstrating JLP’s attractiveness compared to a weighted asset index.

These seven-day market updates aim to inform the Jupiter community about the health of the perpetual ecosystem through metrics not currently tracked on our live dashboard (Risk Dashboard ). This complementary information provides a more comprehensive view of Jupiter’s market performance and ecosystem dynamics.

Analysis

SOL

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image1852×1554 178 KB

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image1854×870 45.4 KB

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BTC

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image1850×1458 180 KB

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image1900×878 46.5 KB

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image1860×1548 223 KB

ETH

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image1940×1508 183 KB

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image1872×868 52.5 KB

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image1930×1544 222 KB

JLP vs Index

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Closing Thoughts

SOL traders achieved a notable $10.94M in net PnL, reflecting a steady gain with a trader win rate of 54.0%. Gross returns remain strong at 0.99%. This was no surprise with the recent market movement.

BTC traders faced a slight challenge, incurring a net PnL loss of $547.15K, even though gross PnL showed a positive $217.51K. The win rate stood at 48.3%.

ETH traders experienced the highest loss among the three assets, with a net PnL of -$888.31K and a win rate of 42.7%, underscoring weaker performance in comparison.

The JLP slightly underperformed the index, likely due to the inherent price volatility in SOL, BTC, and ETH. However, risk-adjusted returns, as indicated by the Sharpe ratio, have shown resilience with gradual improvement over time.

If you have any questions about our current methodology, please contact @riskringer on Telegram or Twitter.
To view our live dashboard with other important metrics, follow this link

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Brilliant weekly summary as usual. SOL traders had a week to celebrate there. Hope they locked up those gains🙌🏿

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Educative, thanks for the hard work put in!:four_leaf_clover:🩵

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Wow, SOL traders really shined! A net PnL of $10.94 million is impressive, and with a 54% win rate you can tell they are doing things right. It is amazing to see how SOL stands out while BTC and ETH face challenges. I am amazed at the resilience of the SOL market in the midst of volatility. Without a doubt, this is a great indication of its potential.

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Lovely :heart_eyes:. Very educative and worth reading

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