Most Important Daily
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Data for Digital Assets |
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| Daily Updates from FSInsight | May 25, 2022 |
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- Majors Bitcoin and Ethereum have been consolidating for the past couple of weeks, with BTC trading between ~29k and ~31k and ETH trading between ~1,900 and ~2,150. So far today, BTC is down .50% and ETH is down .46%, while most altcoins continue to bleed lower. Smart contract platforms Avalanche and Solana are down 3.95% and 3.28%, respectively. Despite general weakness in the altcoin market, Tron (TRX) has seen some relative outperformance, rising 3.68% today and 11.69% this week. This move seems to have originated from the announcement of Tron's USDD algorithmic stablecoin. The FOMC minutes later today at 2pm EST are worth keeping an eye on as it will likely lead to volatility.
- The billionaire founder and CEO of the FTX crypto exchange, Sam Bankman-Fried, revealed in a podcast interview that he intends to give "north of $100 million" with a "soft ceiling" of $1 billion to bankroll the person running against former president Donald Trump in the 2024 presidential election. According to government watchdog Opensecrets, a $1 billion donation would break existing donation records multiple times over. This backing won't be SBF's first political donation. SBF donated $5.2 million to Biden's 2020 election campaign and backed the political action committee Protect our Future, set up in January 2022. In April, this PAC spent $9 million supporting Democratic candidates.
- Andreessen Horowitz (a16z) has announced a $4.5 billion fund for crypto and blockchain startups, stating that $1.5 billion would go to seed investments and $3 billion would go to venture investments. The firm is not deterred by the current market conditions, with general partner Arianna Simpson stating, "bear markets are often when the best opportunities come about when people are actually able to focus on building technology rather than getting distracted by short-term price activity". A16z already has three funds based on the industry, the first of which was launched four years ago. This brings their total capital dedicated to crypto and blockchain to over $7.6 billion.
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| Daily Technical Strategy - Mark Newton, CMT | | Tron (TRXUSD) has made steady progress in recent days, rising three out of the last four days at a time when many Coins have languished. This recent strength has helped TRXUSD to overtake Shiba as the 14th largest Cryptocurrrency by market capitalization at $7.4 billion, and its technical pattern has started to show some technical promise in recent days. Daily TRX charts show its dramatic spike into 2021 highs and subsequent decline which now has managed to make two separate rebound attempts that have held right near the ongoing downtrend line from April 2021 peaks. This large triangle pattern will be worthwhile to keep an eye on to gauge breakouts that can lead to acceleration. Near-term, Tron's recent rally has brought it back to key resistance just under 0.09 to 0.0928 which will be critical to overcome to generate a larger buy signal, driving a rally back up to .13, which would be a 44% gain from current levels. TRX has shown a steadily increasing pattern of higher lows in recent months, and dips down to .07 should be used to buy dips. Only a decline back under .06 would postpone this rally, but the odds favor an upcoming breakout, and a move above this trendline should provide a green light for progress technically. | |
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| Daily Important Metrics | | Sentiment 
Crypto Size Bullish Signal Bullish signal is tied to the crypto market growing Market Cap $1.26T +$2.1B (+0.17%) BTC Dominance 44.70% (+0.69%) | Stable Coins Bearish Signal Increase in circulating stablecoins is a Bullish signal In Circulation $73B (-0.00%) In Exchanges $11B (+1.27%) | Stablecoin Supply Ratio Bearish Signal Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC SSR 3.67 (1.91%) SSR Oscillator -1.27 (-3.97%) | Funding Rate Bearish Signal Positive funding rates indicate traders are Bullish Bitmex -0.0075% (-13%) Binance 0.0044% (-138%) |
| 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 (0.29%) | Futures CME Bearish Signal A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $29,325 (0.29%) Spot Basis $-384 (-1.29%) Volume 16,417 (4.83%) Open Interest 11,732 (-0.52%)
| Options CME No Signal Higher open interest change in a bull market is bullish for the sector Volume 371 (454%) Open Interest 3,052 (5.83%) Calls CME Bullish Signal Calls Volume 56.00 (700%) Calls Open Interest 1,233 (5.93%) Puts CME Bearish Signal Puts Volume CME 12.00 (-40%) Puts Open Interest 1,819 (5.76%) |
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| | All metrics as of May 25, 2022 8:42 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| BTC | $563B | $29,531 | 0.81% | -37% | | | ETH | $236B | $1,952 | -0.10% | -48% | -11% | | ADA | $17B | $0.5104 | -0.64% | -62% | -25% | | SOL | $16B | $47.97 | -3.06% | -72% | -35% | | DOGE | $11B | $0.0828 | 0.45% | -52% | -15% | | DOT | $9.8B | $9.88 | -0.44% | -64% | -27% | | MATIC | $5.1B | $0.6438 | 1.47% | -74% | -38% | | LINK | $3.3B | $7.03 | 0.05% | -64% | -28% | | FTM | $1.0B | $0.4037 | -1.32% | -82% | -45% | | HNT | $898M | $7.59 | -2.01% | -80% | -43% | | Our Deep Research Projects | | AVAX | $7.5B | $27.52 | -2.79% | -75% | -38% | | IOTA | $931M | $0.3348 | 2.36% | -75% | -38% | | ZIL | $650M | $0.0507 | -0.47% | -33% | 3.62% | | AMP | $549M | $0.0130 | -0.41% | -73% | -36% | | ZEN | $254M | $20.45 | 3.72% | -67% | -30% | | VGX | $213M | $0.7650 | -1.79% | -74% | -37% |
All prices as of May 25, 2022 12:57 PM |
| 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% | $18.62 | 0.98% | -46% | -8.69% | | BITW | -26% | $17.52 | -1.31% | -54% | -17% | | ETHE | -33% | $12.57 | -2.18% | -61% | -24% | | QBTC | -1.36% | $31.39 | 0.13% | -49% | -12% | | BTCC | 0.26% | $5.47 | -0.18% | -37% | 0.40% |
All prices as of May 25, 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 | $78.65 | -3.12% | -58% | -21% | | SQ | $76B | $75.88 | -9.02% | -53% | -16% | | COIN | $65B | $61.36 | -7.17% | -76% | -39% | | SBNY | $18B | $188 | -5.12% | -42% | -5.06% | | HOOD | $15B | $9.11 | -9.44% | -49% | -12% | | MSTR | $6.1B | $193 | -5.56% | -65% | -28% | | SI | $4.2B | $67.14 | -7.99% | -55% | -18% | | MARA | $3.5B | $9.00 | -9.37% | -73% | -36% | | RIOT | $2.7B | $6.14 | -10% | -72% | -36% | | VOYG.TO | $1.5B | $2.77 | -0.36% | -82% | -46% | | VYGVF | $1.2B | $9.39 | 0.97% | -25% | 12% | | MOGO | $223M | $1.06 | -8.62% | -69% | -32% |
All prices as of May 25, 2022 8:00 AM |
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| | | | The FTX founder said he’d spend “north of $100 million” with a “soft ceiling” of $1 billion and added “who knows what’s going to happen between now and then.” |
| | | In an exclusive interview with The Block, Howard has for the first time laid out the full extent of his crypto empire. The post Hedge fund manager Alan Howard explains why he’s investing across the entire crypto ecosystem... |
| | | The governance vote on Do Kwon's proposal to relaunch the Terra blockchain and create LUNA 2.0 tokens has passed. The post Do Kwon’s plan to rebirth the Terra blockchain gets approved appeared first on The Block. |
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| | | | $1.5 billion will be dedicated to seed investments and $3 billion to venture investments. The post a16z announces $4.5 billion fund for crypto and blockchain startups appeared first on The Block. |
| | | The Vancouver-based "omnichain" developer is seeking yet more funding just a few months after its last raise. The post LayerZero Labs seeks backing that would triple its valuation to $3 billion appeared first on The Block. |
| | | Ethereum scaling startup StarkWare has quadrupled its valuation to $8 billion after raising $100 million in a Series D funding round. The post StarkWare’s valuation quadruples to $8 billion in new funding round appeared fi... |
| | | The report by JP Morgan also noted that Terra's collapse had a limited knock-on effect on the rest of the DeFi ecosystem. The post VC funding to help crypto avoid a long winter post-Terra’s collapse: JP Morgan appeared fir... |
| | | The co-founder of the company Wework, Adam Neumann, is behind a new crypto project called Flowcarbon and on Tuesday, the blockchain project revealed it raised $70 million from a handful of investors and was led by Andreessen Horowitz (A16z). Flowcarb... |
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| | | | The “Mamaki” testnet could bring an end to what the project calls the “monolithic era” of layer 1 blockchains. |
| | | The Avalanche core team has made a proposal on the ApeCoin DAO forum that the Otherside metaverse should move to Avalanche. The post Avalanche proposes the Otherside metaverse should build its own subnet appeared first on ... |
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