Crypto Daily Report – February 7

Feb 7, 2022
body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightFebruary 7, 2022Bitcoin and Ethereum continue their climb on Monday morning, as they trade above $43k and $3.2k, respectively, for the first time in several weeks. At the time of writing, BTC and ETH each trade over 4% higher compared to 24 hours ago, as the global crypto market cap nears the $2 trillion level once again. Interestingly, despite the resurgence in the crypto market, derivatives markets appear cautiously positioned as perpetual futures funding rates for both BTC and ETH on Monday morning are mostly negative, and Bitcoin's put/call ratio increased from .65 to .68 over the prior week.Japan's largest financial institution Mitsubishi UFJ announced it would launch a yen-pegged stablecoin next year to clear and settle digital securities. The stablecoin will be titled Progmacoin, and its primary purpose is to increase fund delivery speeds and lower costs. While this appears to be a private stablecoin, this decision by Mitsubishi UFJ speaks to the fact that stablecoin rails have real utility and can result in si

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