SoFi’s Head of Investment Strategy explains the recent volatility of semiconductor stocks, what this year’s price action suggests, and what could be in store in weeks to come.
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Come work with us
The SoFi University Recruiting Program seeks talented, passionate, early career professionals to join us in helping millions of people achieve financial independence. Advocating our 11 core values, we aim to develop, nurture, and cultivate an inclusive workforce while creating exceptional and memorable experiences.
CHIEF PEOPLE OFFICER
At SoFi, we’re committed to setting our people up for success, so here’s our managers’ takes on how to own your career development.
“Build genuine connections every day by taking care of other people and helping them grow. You never know how a relationship formed today may positively impact your journey tomorrow.”
Lead Executive Assistant
“Be flexible and open to any opportunities that come your way. It’s easy to tell ourselves that we want a specific career path, but there are countless reasons for your personal and professional goals to change over time. While important to stay focused on your goals, being open to unforeseen opportunities can provide a career path that you maybe hadn’t planned for—and as you will discover, is far more fulfilling.”
Director, Business Operations, Finance
“Embrace our company values! They provide a true roadmap to what a successful career looks like at any company and are a helpful gauge to consider in your career growth.”
Senior Manager, Software Engineering
We believe our people are our greatest differentiator. If we take care of you, you’ll take care of our members—so we’ve built our University Recruiting programs, perks, and benefits around what you need to bring your best self to work.
Access to SoFi Senior Leadership, including exclusive events with executives across all functions of SoFi.
SoFridays—where full-time eligible employees can start their weekends early at 2 p.m. every Friday.
We also offer student loan reimbursement to qualifying employees, who get up to $200/mo to pay back their student loans. Enjoy fully stocked kitchens, pre-hire gifts, and more.
Eligible employees will get access to SoFi’s comprehensive benefits program, including medical benefits, commuter benefits, generous vacation and holidays, and more.
As part of our University Recruiting Program, you’ll have opportunities to meet our senior leaders, present ideas to improve existing initiatives, and own your project discoveries. Plus, you’ll get to attend learning sessions with SoFi subject matter experts, network with others, attend fun events, and much more.
“My favorite aspect of my internship last year was collaborating with my mentor and being a valuable member of a team that was consistently supportive. As an aspiring software engineer, it can be intimidating to enter an unfamiliar environment with limited knowledge of the systems you’ll be working with. SoFi played a crucial role in boosting my confidence and competence as a software engineer. I now feel confident in handling a variety of tasks within my team.”
Ifeanyi Ibeanusi
Software Engineer, Money (Former 2022 Summer Intern)
“My favorite part about interning at SoFi was getting to work with the most talented team of people. Out of all my internships, I felt the most supported and welcomed at SoFi. Thanks to my team, I learned a tremendous amount in a short amount of time and was the ultimate reason I decided to return full time!”
Elaine Suh
Member Business Analyst (Former 2022 Summer Intern)
“There were so many things I loved about my summer internship at SoFi, from having a chance to live in and explore Seattle for a summer, to learning a bunch of cool new technologies and using them to own an impactful project from start to finish. That being said, my favorite part of my internship was having the opportunity to collaborate with and learn from a ton of super smart software engineers; my mentor and team were with me throughout the entire development process and I couldn’t have done it without them!
The biggest takeaway I got from my experience is that you’re never alone: there’s a huge network of awesome people at SoFi that are always willing to support you along the way!”
Ramon Polanco
Software Engineer, Loans Origination (Former 2023 Summer Intern)
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SoFi’s Head of Investment Strategy demystifies the relationship between currency moves, Treasuries, and the effects on capital markets.
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The Global In/Out of the Money (GIOM) classifies addresses based on if they are profiting (in the money), breaking even (at the money) or losing money (out of the money) on their positions at current price. IntoTheBlock calculates an address’ average cost based on the weighted average price at which it bought or received the tokens currently held by the address. IntoTheBlock categorizes addresses and tokens accordingly to obtain an aggregate view of profitability for a particular crypto asset.
The GIOM aggregates all addresses’ positions into clusters based on the number of addresses (or volume) that had previously bought at a certain price range. The larger these clusters, the more support/resistance is expected around these price levels.
The Volatility indicator measures the 30- or 60-day variations in price for a particular crypto-asset. This is calculated as the standard deviation of the period’s daily returns and annualizing the variation. Since crypto markets are 24/7 the annualization formula takes into account 365 days (as opposed to the 252 trading days generally available in stock markets).
The Total Addresses indicator monitors three key metrics:
Total Addresses: All addresses ever created one point have held a particular crypto-asset, including those that still do.
Total with Balance (Holders): All addresses that currently hold this particular crypto-asset.
Total Zero Balance: All the addresses that used to hold a crypto-asset but no longer do.
Put simply Total Addresses = Total with Balance + Total Zero Balance
The IntoTheBlock team has Total with Balance selected as default as it is more indicative of a crypto-asset’s on-chain ‘health’.
As the name suggests, this indicator displays the number of transactions for a particular crypto-asset on a given day. This data is based on what is shown in the blockchain, therefore transactions taken within exchanges are not recorded unless they occur on-chain.
For smart contract protocols such as Ethereum and Ontology, the number of transactions includes transactions that take place in tokens built on top of them. For example, if there are 200 LINK transactions, Ethereum will also record those 200 transactions as ETH is required to transfer ERC-20 tokens on-chain.
The Transactions Volume indicator measures the aggregate volume of transactions recorded on-chain. This version of the indicator tracks the volume in crypto terms (i.e. BTC instead USD). You can use the indicator in USD terms here.
Another version of this indicator, Large Transactions Volume, measures only the volume of transactions over $100,000, which is indicative of whale/institutional activity.
Since blockchains run on a public distributed ledger and all data is of public access. Numerous characteristics regarding addresses can be extracted. IntoTheBlock gathers addresses depending on the time they have held the specific asset. These addresses are divided the following way:
Hodlers – addresses that have held the asset over a period of one year.
Cruisers – addresses with holding periods between one and twelve months.
Traders – the group that have held the asset for less than one month.
In the same way that IntoThBlock classifies the number of addresses by their holding period, this indicator takes it a step further by adding the value that each specific group has represented over time. The indicator shows the value of coins relative to each individual group (Hodlers, Cruisers and Traders) since its historic inception. This helps to keep track of the trading behaviors of each different group.
IntoTheBlock has built a proprietary machine learning powered classifier to identify addresses of top centralized exchanges, including their deposit addresses, withdrawal addresses, hot wallets and cold wallets. With this classifier, IntoTheBlock can measure the net volume flowing into exchanges. Through the following formula IntoTheBlock calculates Net Flows:
Net Flows = Inflow Volume – Outflow Volume
The Twitter Sentiment indicator uses IntoTheBlock’s proprietary classification machine learning algorithm to infer the connotation of messages discussing a particular crypto-asset and its ticker. These are plotted over time to track market sentiment and the level of activity in relation to a crypto-asset in Twitter.
The Search Trends indicator uses Google’s API to obtain the relative rank of searches performed by Google users globally for a particular crypto-asset. The relative ranks range from 0 to 100, where 0 is the lowest period of search volume and 100 indicates the peak number of searches.
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