Crypto Daily Report – January 20

Jan 20, 2022
Most Important Daily
Data and News for Digital Assets

Crypto Daily Report

The Most Important Daily
Data for Digital Assets

Daily Updates from FSInsightJanuary 20, 2022
  • It's been a pretty flat 24 hours, with the overall crypto market down 0.3%. Bitcoin is matching the market, down 0.3% to $41,965, but Ethereum is up 0.4% to $3,132. While the overall crypto market has gone down almost 12% in 2022, the stablecoin market has increased by over 6% in the same timeframe. We are seeing many investors move out of the large layer 1s, but stay within crypto by swapping into stablecoins to yield farm while they wait for signs of positive price action.
  • Brazil is about to list the first ever DeFi ETF, Hashdex's DEFI11. The ETF will be tracking CF Benchmark's DeFi index, CF DeFi Modified Composite Index, with a blend of large DeFi protocols, service and scalability solution protocols, and Ethereum. Some of the protocols being incorporated will be Uniswap, Aave, Compound, Chainlink, and Polygon, among many others.
  • In other Latin America news, El Salvador announced that it will be developing a regulatory system that will allow small businesses to take out low-interest loans in Bitcoin. Over 90% of small businesses in the country receive funding through informal and predatory short-term loans. The government is hoping that these Bitcoin-backed loans will be more accessible to its business owners than traditional bank loans, giving them a way out of locally-monopolized predatory lenders.
Daily Technical Strategy

Cosmos joins a group of other Alt layer 1's that have shown some positive decoupling from BTC and ETH in recent weeks. Following a doubling in price in the last month, ATOMUSD has risen to test areas of key resistance near Sept 2021 peaks. While this area at $45 needs to be exceeded before some real acceleration can take place, the technical base-building that this has exhibited in recent months is very much a technical positive following its runup from last Summer. A close at multi-day highs today should allow for a push higher to challenge the $45 level, and above argues for an above-average period of acceleration which should help this get to Fibonacci extension targets at $51.80 and then ultimately near $60. Barring a daily close under $32.88, ATOMUSD looks like an attractive risk reward to own at current levels and consider adding on a close above $45.

Daily Important Metrics

Sentiment

Crypto Daily Report – January 20

Crypto Size  Bearish Signal

Bullish signal is tied to the crypto market growing

Market Cap $2.0T $-6.5B (-0.33%)

BTC Dominance   40.15% (-0.04%)

Stable Coins   Bullish Signal

Increase in circulating stablecoins is a Bullish signal

In Circulation $78B (+0.01%)

In Exchanges $5.3B (-2.64%)

Stablecoin Supply Ratio  Bearish Signal

Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC

SSR 5.27 (-0.23%)

SSR Oscillator -1.63 (-0.00%)

Funding Rate   Bullish Signal

Positive funding rates indicate traders are Bullish

Bitmex 0.0093% (-6.90%)

Binance 0.0096% (+53%)

BTC Metrics Bullish Signal

A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage

# BTC in Exchanges 2.5M (-0.02%)

Futures CME Bearish Signal

A positive spread between Futures Prices and Spot Prices is Bullish

BTC Price $41,935 (-0.73%)

Spot Basis   $-29.99 (-0.07%)

Volume 7,704 (-3.35%)

Open Interest  11,484 (0.14%)


Options CME No Signal

Higher open interest change in a bull market is bullish for the sector

Volume 63.00 (21%)

Open Interest 1,598 (1.40%)

Calls CME Bullish Signal

Calls Volume 11.00 (22%)

Calls Open Interest 399 (2.84%)

Puts CME Bearish Signal

Puts Volume CME 32.00 (88%)

Puts Open Interest 1,199 (0.93%)

All metrics as of January 20, 2022 2:30 AM
Crypto Prices
SymbolMarket CapLast PriceDaily ChangeYear to DateRelative to BTC YTD
BTC$795B$41,965-0.29%-10%
ETH$373B$3,1320.35%-16%-5.60%
BNB$76B$462-0.20%-11%-0.46%
ADA$45B$1.34-5.74%1.14%12%
SOL$43B$1370.83%-21%-10%
XRP$35B$0.74310.66%-12%-1.41%
DOT$24B$24.420.57%-10%0.01%
DOGE$22B$0.1644-0.24%-4.21%6.18%
LINK$10B$22.110.81%12%22%
LTC$9.5B$1370.79%-7.21%3.18%
BCH$7.1B$3720.31%-15%-4.20%
Our Deep Research Projects
AVAX$21B$84.381.11%-23%-13%
IOTA$3.0B$1.071.88%-21%-11%
BSV$2.1B$109-0.26%-11%-0.41%
AMP$1.6B$0.0373-2.01%-23%-13%
ZIL$725M$0.0590-0.64%-22%-12%
ZEN$610M$50.911.86%-17%-6.71%

All prices as of January 20, 2022 12:54 PM

Exchanged Traded Products (ETPs)
SymbolPremium to NavLast PriceDaily ChangeYear to DateRelative to BTC YTD
GBTC-28%$35.71-2.70%4.26%15%
BITW-22%$41.88-2.83%9.78%20%
ETHE-20%$32.93-5.18%-68%-58%
QBTC-4.67%$62.821.72%2.95%13%

All prices as of January 20, 2022 7:54 AM

Stocks
SymbolMarket CapLast PriceDaily ChangeYear to dateRelative to BTC YTD
PYPL$216B$175-1.28%-7.37%3.03%
SQ$76B$1300.15%-19%-8.97%
COIN$65B$222-2.13%-12%-1.64%
SBNY$18B$355-5.35%9.66%20%
HOOD$15B$14.43-3.15%-19%-8.36%
MSTR$6.1B$468-3.46%-14%-3.65%
SI$4.2B$105-13%-29%-19%
MARA$3.5B$26.14-5.20%-20%-10%
RIOT$2.7B$18.72-4.85%-16%-5.77%
MOGO$223M$2.44-6.15%-29%-18%

All prices as of January 18, 2022 4:02 PM

*COIN YTD since 14/04/2021

News
QUICK BITS
Crypto.com Says Hackers Stole Nearly $34M From Users
CoinDeskRead the full story >
The hack of Singapore-based cryptocurrency exchange Crypto.com this week saw nearly $34 million stolen from 483 users' accounts.
MARKET DATA
China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made
Bitcoin.comRead the full story >
China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digit...
DOSE OF DEFI
World’s first DeFi ETF to be listed on the Brazilian stock exchange in February
CryptoSlateRead the full story >
Hashdex, a global crypto-focused asset manager recently announced the approval of the world’s first DeFi exchange traded fund (ETF).  The ETF will be listed on the Brazilian stock exchange, B3, under the ticker symbol DEFI11 on February 17th. The po...
CRYPTO INFRASTRUCTURE
Union Bank of the Philippines selects Metaco and IBM to facilitate digital asset custody operati​​ons
Coin TelegraphRead the full story >
"With the recent launch of our APAC headquarters in Singapore, we can ensure that we continue to offer best-in-class services to UnionBank and other clients in the region," says Patrick Enjalbal, VP Customer Success managing director of Asia-Pacific ...
RippleNet cements presence in MENA by partnering with Morocco’s biggest bank
AMBCryptoRead the full story >
Ever since Ripple was dragged into a lawsuit by the U.S Securities and Exchange Commission, the blockchain company has been increasing its focus on foreign partnerships. During this time, a number of banks globally have employed Ripple to aid them in...
El Salvador explores low-interest loans backed by Bitcoin
Coin TelegraphRead the full story >
The Salvadoran government is looking to create a Bitcoin-backed loan product for micro and small businesses across the country.
Google Pay hires former PayPal executive to expand crypto services
CryptoSlateRead the full story >
According to Bloomberg, Google Pay, one of the leading digital wallets for payments, has hired former Paypal executive Arnold Goldberg, in a bid to expand and accelerate its crypto operations.  Goldberg will be responsible for heading Google’s paymen...
REGULATION
Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions
Bitcoin.comRead the full story >
The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like tho...
Crypto Exchanges Set to Face Tougher Regulatory Scrutiny: SEC Chair
Decrypt.coRead the full story >
Chairman of the Securities and Exchange Commission, Gary Gensler, has warned that regulating cryptocurrency exchanges is a top priority for the U.S. financial watchdog.
NFTS
Mastercard and Coinbase Partner to Make NFTs More Accessible to Everyone
Bitcoin.comRead the full story >
Payments giant Mastercard has partnered with cryptocurrency exchange Coinbase to make non-fungible tokens (NFTs) more accessible to everyone. Mastercards can be used to make purchases on Coinbase’s upcoming NFT marketplace. Mastercard Partners With C...
Crypto exchange Bybit launches NFT marketplace.
CoinnounceRead the full story >
The popular cryptocurrency exchange Bybit has launched its non-fungible token (NFT) marketplace, a platform that will give users access to the world of NFTs, GameFi, and the metaverse. Bybit revealed in an announcement that the new platform is a one-...
WAX to Give Out 10 Million Free NFTs in Largest-Ever NFT Drop
Decrypt.coRead the full story >
With an array of brands onboard and rising play-to-earn games, WAX will give out free NFTs to celebrate its growth.

Reports you may have missed

Crypto markets are declining following news that most of the SEC’s lawsuit against Coinbase will proceed (more below). BTC (-1.27%) reached intraday highs of $71.8k before declining to $69k after the news. Rumors have circulated that Morgan Stanley and PNC will soon approve access to Bitcoin ETFs on their wealth management platforms. Together, Morgan Stanley and PNC hold over $1.5 trillion in client assets and likely will provide a tailwind...

Following the worst week of ETF flows since inception, BTC (+3.89%) is rebounding, rising to $69.6k, and ETH (+4.09%) has reclaimed the $3,500 mark. Last week’s outflows totaled $888 million, representing about a fifth of the inflows seen in the previous two weeks. ONDO, an institutional RWA protocol, is one of the top performers today, rising 7.61% as investors remain optimistic about the future of tokenized assets and their ability...

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