Most Important Daily
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Data for Digital Assets |
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| Daily Updates from FSInsight | March 3, 2022 |
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- The crypto market continues to take a breather after the 23% run over the seven days since the invasion into Ukraine. Over the past 24 hours, the overall market cap is down $5.7B, just 0.3%. Bitcoin has seen very strong resistance at the $44k mark, dropping 0.1% to $43.6 after breaking that mark yesterday. Ethereum saw even stronger resistance at $3k, falling 1.4% to $2900 after spending a few hours above that $3k mark yesterday. While a number of popular cryptoassets have experienced similar pullbacks, many of last week's top-performing tokens such as LUNA, ATOM, and NEAR continue to make gains as investors appear to pour focus into protocols showing the most strength in this bull run.
- The Ukrainian minister of digital transformation, Mykhailo Fedorov, announced that they have canceled their plans to airdrop crypto to random donors. There were rumors that an airdrop was already taking place, but it appears the airdrop was a spoof done by a random third party. Instead, after already having raised almost $50 million in crypto donations, Ukraine will be creating an NFT collection, and the proceeds from sales will go towards supporting their armed forces.
- The SEC has switched its focus from Ripple to NFT creators and marketplaces in a probe to find out if some NFTs act as securities and would therefore fall under SEC jurisdiction and regulation. A similar investigation was launched into initial coin offerings (ICOs) for layer 1 protocols looking to pull in capital to help fund the development of their platform. FTX US, a popular centralized crypto exchange, already raised concerns that the SEC's ruling on ICOs for centralized layer 1s had many parallels with NFTs and stated that users would not be able to trade NFTs on the platform.
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| Daily Technical Strategy - Mark Newton, CMT | | VeChain, the Chinese cryptocurrency built using the Proof of Authority (PoA) consensus, has begun to show some life at a time when many had given up on its ability to make a comeback. At its peak, VETUSD was considered one of the top 20 cryptocurrencies in the world, but has seen its market cap drop nearly 80% from a peak of over 16 billion. In recent days, we've seen VET climb back over .05 which lies right near the bottom back in July 2021. Technically speaking, momentum had begun to show some positive divergence on the recent pullback attempt to new lows into late February last month, and its rebound back over January 2022 lows is considered a positive. While more will be needed to weigh in on the possibility of VET making a larger comeback which could help it regain its former market cap, this near-term trendline breakout is a technical positive, arguing for follow-through up to 0.07, with movement above leading to .09. Overall the act to regain and stay above .056 by end of week would represent the start of some necessary stabilization, creating an appealing risk-reward with trading stops at .039. | |
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| Daily Important Metrics | | Sentiment 
Crypto Size Bearish Signal Bullish signal is tied to the crypto market growing Market Cap $1.92T $-5.7B (-0.30%) BTC Dominance 43.10% (+0.10%) | Stable Coins Bullish Signal Increase in circulating stablecoins is a Bullish signal In Circulation $80B (+0.40%) In Exchanges $6.6B (-1.81%) | Stablecoin Supply Ratio Bullish Signal Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC SSR 5.09 (-0.88%) SSR Oscillator -1.18 (1.37%) | Funding Rate Bearish Signal Positive funding rates indicate traders are Bullish Bitmex 0.0100% (+36%) Binance 0.0088% (-597%) |
| BTC Metrics Bearish Signal A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage # BTC in Exchanges 2.6M (0.08%) | Futures CME Bullish Signal A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $43,820 (-1.22%) Spot Basis $200 (0.46%) Volume 7,042 (-30%) Open Interest 10,028 (0.48%)
| Options CME No Signal Higher open interest change in a bull market is bullish for the sector Volume 134 (68%) Open Interest 1,301 (2.60%) Calls CME Bullish Signal Calls Volume 21.00 (-67%) Calls Open Interest 256 (3.64%) Puts CME Bearish Signal Puts Volume CME 21.00 (24%) Puts Open Interest 1,045 (2.35%) |
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| | All metrics as of March 3, 2022 8:22 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| BTC | $828B | $43,620 | -0.13% | -6.86% | | | ETH | $350B | $2,918 | -1.35% | -22% | -15% | | LUNA | $35B | $93.07 | 2.67% | 8.88% | 16% | | SOL | $32B | $100 | -2.09% | -42% | -35% | | ADA | $31B | $0.9231 | -2.97% | -30% | -24% | | DOT | $18B | $18.47 | -0.94% | -32% | -25% | | DOGE | $18B | $0.1328 | 0.00% | -23% | -16% | | MATIC | $12B | $1.62 | -1.36% | -36% | -29% | | LINK | $7.1B | $15.21 | -1.26% | -23% | -16% | | FTM | $4.8B | $1.89 | -5.30% | -16% | -9.00% | | Our Deep Research Projects | | AVAX | $20B | $82.35 | -1.28% | -25% | -18% | | IOTA | $2.2B | $0.7870 | 0.12% | -42% | -35% | | BSV | $1.6B | $85.62 | -0.77% | -30% | -23% | | AMP | $1.2B | $0.0284 | -0.38% | -42% | -35% | | ZIL | $541M | $0.0434 | 1.11% | -43% | -36% | | VGX | $491M | $1.76 | -2.23% | -41% | -34% | | ZEN | $472M | $38.94 | 1.18% | -37% | -30% |
All prices as of March 3, 2022 8:21 AM |
| Exchanged Traded Products (ETPs) | |
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| Symbol | Premium to Nav | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| GBTC | -26% | $30.18 | -1.86% | -12% | -5.03% | | BITW | -24% | $32.07 | -0.77% | -16% | -9.08% | | ETHE | -20% | $23.71 | -1.62% | -27% | -20% | | QBTC | -2.94% | $46.71 | -0.68% | -23% | -17% | | BTCC | 0.11% | $8.21 | -0.73% | -4.76% | 2.11% |
All prices as of March 3, 2022 8:04 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to date | Relative to BTC YTD |
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| PYPL | $216B | $107 | -4.84% | -44% | -37% | | SQ | $76B | $124 | -1.43% | -23% | -16% | | COIN | $65B | $195 | -0.85% | -23% | -16% | | SBNY | $18B | $337 | 6.45% | 4.24% | 11% | | HOOD | $15B | $11.49 | -2.38% | -35% | -28% | | MSTR | $6.1B | $465 | 4.91% | -15% | -7.79% | | SI | $4.2B | $128 | -0.24% | -14% | -6.92% | | MARA | $3.5B | $26.88 | 3.07% | -18% | -11% | | RIOT | $2.7B | $17.50 | 1.57% | -22% | -15% | | VOYG.TO | $1.5B | $9.89 | -7.48% | -37% | -31% | | VYGVF | $1.2B | $9.39 | 0.97% | -25% | -18% | | MOGO | $223M | $2.27 | 0.00% | -34% | -27% |
All prices as of March 2, 2022 8:00 AM |
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| | | | In its latest efforts to destabilize the Russian invasion in Ukraine, the hacker group Anonymous offered Russian troops over $50k in Bitcoin in exchange for their tanks. According to Ukrainian media, the cyber hacking group will pay $52k in Bitcoin (... |
| | | The minister of digital transformation announced the cancellation on his Twitter account. |
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| | | | Blockchain analytics will help ensure that NY-licensed companies don’t send money to sanctioned Russians. |
| | | A text threatening to prohibit cryptocurrencies relying on energy-intensive proof-of-work mining has been deleted from the draft legislation aimed at regulating the European crypto space. The move comes after the controversial provision sparked objec... |
| | | The SEC targeted NFT creators and marketplaces over their sales that look like ICO sales and It sent subpoenas as a part of the investigation so let’s read further in today’s latest crypto news. The US SEC targeted NFT creators as well as NFT marketp... |
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| | | | Solana-based NFT marketplace Snowcrash will release NFT collections of Bob Dylan and Miles Davis later this year. |
| | | There were 796,009 NFT buyers on secondary markets in Feb, accounting for roughly $2.6 billion worth of sales. The figures mark significant declines compared to the record month before. |
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| | | | Chinese tech colossus Tencent has continued its foray into the metaverse after filing a patent for virtual concerts, flying in the face of warnings from Chinese banks and regulators. |
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| | | | Formerly known as Pantronics Holdings, Huobi Technology has shifted its focus from electronic products to crypto. |
| | | Schwab’s crypto ETF would buy into stocks on its Crypto Economy Index to give investors indirect access to digital assets by investing in businesses that deal with crypto. |
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