Most Important Daily
Data and News for Digital Assets |
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Data for Digital Assets |
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| Daily Updates from FSInsight | June 8, 2022 |
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- As of writing, BTC and ETH are trading at $30.5k and $1.8k, down 2.1% and 0.4% respectively. NDAQ and SPX have also opened with no discernible trend (+0.3% and -0.4%), with the discrepancy caused by tech stocks rebounding stronger relative to the rest of the S&P. SOL ($36 - $45) and AVAX ($21 - $29) have also been range-bound since the start of June. LINK, THETA, FTX, NEO and ADA have been the top-gainers for the past 24hrs, posting >8.5% gains. Suppose markets continue to move sideways for the near term (as discussed in the Crypto Weekly). In that case, we propose several income-focused strategies to harvest delta-neutral yields in the DeFi Digest to be published later in the week.
- In past issues of the Crypto Daily, we have noted that stakeholders (regulators and incumbents) are taking different stances in these defining times. Coinbase rescinded job offers that stretched across multiple product lines as part of its hiring freeze, while FTX has expressed no desire to scale back hiring, according to SBF. On the other hand, Grayscale hones in on compliance by hiring former Solicitor General Don Verrilli to aid in its Bitcoin ETF approval. While seemingly distinct, these developments indicate that the digital asset space has far-reaching potential that commands the attention of various affected stakeholders.
- Interest and 'fomo' in digital assets are also increasing, even from long-time opponents. After investing $1.15b in crypto-native firm Paradigm in January with Sequioa, Citadel Securities made its formal foray into digital assets by announcing the launch of a crypto trading ecosystem for brokers. Market-making firm Virtu, VC firm Sequioa Capital, and portfolio company Paradigm, will work together to build the ecosystem. Acknowledging that he hasn't been right about crypto in the past, Ken Griffin recognizes liquidity as the main hurdle for institutions to onboard and is actively working to capitalize on the opportunity.
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| Daily Technical Strategy - Mark Newton, CMT | | Cardano has begun to show some evidence of strengthening lately that bodes well for this to turn higher and start a more meaningful rally following eight of the last nine "down" months. Daily ADAUSD charts show the rally from late May having broken the downtrend from late March just three months ago. However, this also looks to be challenging an intermediate-term downtrend drawn from peaks made last August 2021. Weekly positive momentum divergence has started to become apparent following indicators like RSI holding up at much higher levels and not following the most recent pullback into May lows. Moreover, volume spiked to multi-day highs into late May, followed by just a minimal pullback before prices started pushing up again. Overall, ADA is attractive to own at current levels, and gains back over 0.75 would be reason to gain conviction that this can rally back to challenge late March peaks near $1.25. | |
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| Daily Important Metrics | | Sentiment 
Crypto Size Bullish Signal Bullish signal is tied to the crypto market growing Market Cap $1.24T +$14B (+1.14%) BTC Dominance 46.46% (+0.29%) | Stable Coins Bullish Signal Increase in circulating stablecoins is a Bullish signal In Circulation $72B (+0.00%) In Exchanges $11B (+3.06%) | Stablecoin Supply Ratio Bullish Signal Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC SSR 3.87 (-0.50%) SSR Oscillator -1.12 (1.46%) | Funding Rate No Signal Positive funding rates indicate traders are Bullish Bitmex 0.0074% (+27%) Binance 0.0100% (0.00%) |
| BTC Metrics Bearish Signal A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage # BTC in Exchanges 2.5M (0.45%) | Futures CME Bullish Signal A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $30,470 (2.27%) Spot Basis $30.86 (0.10%) Volume 12,537 (26%) Open Interest 10,990 (-3.09%)
| Options CME No Signal Higher open interest change in a bull market is bullish for the sector Volume 70.00 (-7.89%) Open Interest 2,573 (2.35%) Calls CME Bullish Signal Calls Volume 21.00 (91%) Calls Open Interest 1,156 (1.85%) Puts CME Bearish Signal Puts Volume CME 49.00 (96%) Puts Open Interest 1,417 (2.76%) |
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| | All metrics as of June 8, 2022 10:51 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| BTC | $580B | $30,415 | 1.65% | -35% | | | ETH | $218B | $1,803 | 0.94% | -52% | -17% | | ADA | $22B | $0.6558 | 5.93% | -51% | -16% | | SOL | $14B | $39.57 | 0.57% | -77% | -42% | | DOGE | $11B | $0.0800 | -0.36% | -53% | -18% | | DOT | $9.0B | $9.10 | -0.96% | -67% | -32% | | MATIC | $4.9B | $0.6142 | 1.82% | -76% | -41% | | LINK | $4.0B | $8.57 | 9.70% | -57% | -22% | | HNT | $1.3B | $10.71 | 4.43% | -72% | -37% | | FTM | $885M | $0.3478 | -1.03% | -85% | -49% | | Our Deep Research Projects | | AVAX | $6.9B | $24.53 | 0.16% | -78% | -43% | | IOTA | $990M | $0.3560 | 3.36% | -74% | -39% | | ZIL | $637M | $0.0494 | -0.19% | -35% | 0.04% | | AMP | $487M | $0.0115 | 0.37% | -76% | -41% | | ZEN | $248M | $19.93 | 0.75% | -68% | -33% | | VGX | $235M | $0.8444 | -0.42% | -72% | -37% |
All prices as of June 8, 2022 10:57 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 | -30% | $20.22 | 0.40% | -41% | -5.91% | | BITW | -26% | $15.64 | -0.64% | -59% | -24% | | ETHE | -34% | $11.96 | 0.17% | -63% | -28% | | QBTC | -3.36% | $31.72 | -1.67% | -48% | -13% | | BTCC | 0.02% | $5.79 | -1.19% | -33% | 2.23% |
All prices as of June 8, 2022 8:06 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 | $88.59 | 2.05% | -53% | -18% | | SQ | $76B | $84.60 | 1.46% | -48% | -13% | | COIN | $65B | $69.57 | -1.56% | -72% | -37% | | SBNY | $18B | $226 | 1.15% | -30% | 4.90% | | HOOD | $15B | $8.72 | -4.28% | -51% | -16% | | MSTR | $6.1B | $240 | 1.94% | -56% | -21% | | SI | $4.2B | $84.22 | 5.45% | -43% | -8.11% | | MARA | $3.5B | $8.69 | -2.69% | -74% | -38% | | RIOT | $2.7B | $6.17 | -3.14% | -72% | -37% | | VOYG.TO | $1.5B | $2.82 | -6.62% | -82% | -47% | | VYGVF | $1.2B | $9.39 | 0.97% | -25% | 10% | | MOGO | $223M | $1.28 | -2.29% | -63% | -28% |
All prices as of June 8, 2022 8:00 AM |
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| | | | The group of 21 activists provided examples of how crypto assists people around the world, saying “tens of millions” rely on Bitcoin (BTC) and stablecoins as a way to access financial tools. |
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| | | | Citadel Securities, the market-making firm founded by billionaire Ken Griffin, is in preparations to launch a digital assets trading ecosystem for brokerages. The post Citadel Securities is gearing up to launch a crypto tr... |
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| | | | The Osmosis team confirmed the bug let malicious users drain about $5 million worth of assets from liquidity pools. The post Osmosis DEX on Cosmos exploited for $5 million as validators halt the network appeared first on T... |
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| | | | In addition to eco-friendly components, the IMF recommended central banks to include other features in the CBDCs, such as compliance, higher resilience and offline capabilities. |
| | | Quick Take Last week a grand jury indicted former OpenSea head of product Nate Chastain for actions related to an alleged insider trading scheme. But Chastain wasn’t indicted for securities law violations, which are usually associated with insider t... |
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| | | | Custodia wants to compel the Federal Reserve Board and its Kansas City branch to approve its application for a Fed master account within 30 days. |
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| | | | The fund, created by Solana Ventures and the Solana Foundation, will focus on virtual gaming, and will invest in NFT and DeFi projects. |
| | | Wallet provider Ledger and global VC firm Cathay Innovation have teamed up to launch a $110 million fund to invest in web3 startups. The post Ledger and VC firm Cathay Innovation launch $110 million crypto fund appeared fi... |
| | | The payments platform based in Ecuador has raised $100 million in Series B financing at a unicorn valuation. The post Kushki hits unicorn status as payments platform raises $100 million appeared first on The Block. |
| | | Investors will earn Delphia Data Tokens for sharing personal shopping and social media data with the advisor. |
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| | | | The use of a Dutch auction on its own chain may be two major factors that contributed to the sale’s success in selling out the Land plots and keeping gas fees low. |
| | | Version 4 of Ocean Protocol uses NFTs for more flexible handling and the monetization of curated data sets. |
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| | | | Ahead of the July 6 SEC decision, the investment giant has hired Don Verrilli, a former U.S. Solicitor General as a senior legal strategist, working alongside its attorneys at Davis Polk & Wardwell LLP and its in-house counsel. |
| | | FTX will not be scaling back on its staff, according to CEO Sam Bankman-Fried.… The post FTX to hire more people ‘regardless of market conditions’, CEO say appeared first on CoinJournal. |
| | | The company was widely criticized after pulling job offers that it promised not to. |
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| | | | The DEX aims to eliminate the gas fees and extra steps associated with multi-chain ecosystems, even if it sacrifices network security. |
| | | Speaking to Cointelegraph on Wednesday, Swyftx co-CEO Ryan Parsons revealed that its long-term plans are to explore ways to offer trading between traditional and crypto asset classes. |
| | | The move comes after nearly two years since PayPal enabled users to buy and sell crypto on its platform. |
| | | Several projects have launched on Optimism this year with the goal of giving users instant transactions and lower gas fees. |
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| | | | Crypto regulations in South Korea require exchanges to enforce strict KYC and AML guidelines and major crypto exchanges have delisted privacy coins in the past as well. |
| | | The current top staking option offers APY as high as 18%. |
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