Crypto Daily Report – July 5
Jul 5, 2022
body{ background-color:'#041529'} body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; } a { color:'#3E84CE'; } Most Important Daily Data and News for Digital Assets Crypto Daily ReportJuly 5, 2022 THIS MESSAGE IS SENT SOLELY TO MEMBERS OF FSINSIGHT Tickers on this report: ATOM, BTC, ETH, MATIC, UNI Market UpdateSean Farrell Head of Digital Asset StrategyThe global crypto market is retracing gains made during a holiday weekend rally. The total crypto market cap is trading 1.1% lower over the prior 24 hours as $BTC (-0.8%) sinks back below $20k, and $ETH (-1.0%) steadies above $1k. Most alts are trading lower this morning in concert with the majors. The few exceptions include $MATIC (+4.7%), $UNI (+1.7%), and the clear outperformer in $ATOM (+5.6%). We speculate that the price action for ATOM stems from an initiative to increase value accrual to ATOM token holders. Legacy market investors continue to show trepidation over a possible recession, as the Dow fell another 600 points at the US market open. At the time of writing, the SPX is trading 1.1% lower while the US10Y inches higher, and the DXY leaps to a range north of 106. This divergence in rates and the USD is primarily due to a weakening EUR. Interestingly, the