Most Important Daily Data and News for Digital Assets |
| | Crypto Daily Report The Most Important Daily Data for Digital Assets |
|
Daily Updates from FSInsight | October 8, 2021 |
|
- At the time of writing, the overall crypto market is trading 1% higher over the prior 24 hours as Bitcoin and Ethereum trade 1.5% and 0.5% higher, respectively, over the same period. Funding rates for perpetual futures contracts are positive across all major exchanges as derivatives markets have turned uniformly bullish. However, we note that the leverage ratio remains relatively low at 0.14, about equal to the ratio following the deleveraging event in early September.
- JPMorgan noted on Thursday that institutional investors are returning to Bitcoin in droves. In addition to a recent increase in regulatory certainty, they suggested that many are allocating to the leading cryptoasset due to increased layer 2 adoption (Lightning Network) and because it serves as a better inflation hedge than gold. This is significant because two major criticisms of BTC are that it lacks practical use cases and it is too volatile to be a true inflation hedge.
- On Thursday, Bloomberg published a story on Tether and its opaque history of financial reporting. The article confirmed the stablecoin issuer's exposure to Chinese commercial paper and revealed that Tether had loaned crypto lending platform Celsius a portion of its reserves with BTC held as collateral. Our view is that the story is likely accurate but largely insignificant due to the lack of new information provided on the situation.
|
|
|
Sentiment
Crypto Size Bullish Signal Bullish signal is tied to the crypto market growing Market Cap $2.3T +$22B (+0.95%) BTC Dominance 44.48% (-1.08%) | Stable Coins Bullish Signal Increase in circulating stablecoins is a Bullish signal In Circulation $68B (+0.25%) In Exchanges $4.1B (-3.63%) | Stablecoin Supply Ratio Bearish Signal Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC SSR 8.35 (2.63%) SSR Oscillator -0.2354 (-21%) | Funding Rate Bullish Signal Positive funding rates indicate traders are Bullish Bitmex 0.0100% (0.00%) Binance 0.0284% (+184%) |
| 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 (0.11%) | Futures CME Bullish Signal A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $55,910 (2.37%) Spot Basis $1,426 (2.62%) Volume 6,867 (-46%) Open Interest 10,427 (3.83%)
| Options CME No Signal Higher open interest change in a bull market is bullish for the sector Volume 17.00 (-72%) Open Interest 933 (1.30%) Calls CME Bullish Signal Calls Volume 8.00 (-83%) Calls Open Interest 352 (1.44%) Puts CME Bearish Signal Puts Volume CME 9.00 (-40%) Puts Open Interest 581 (1.22%) |
|
| All metrics as of October 7, 2021 11:18 PM |
|
|
Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
---|
BTC | $1.0T | $54,484 | -0.18% | 88% | | ETH | $424B | $3,596 | 1.54% | 388% | 300% | BNB | $74B | $438 | 0.03% | 1,072% | 984% | ADA | $73B | $2.29 | 3.80% | 1,159% | 1,071% | XRP | $50B | $1.08 | -0.09% | 392% | 304% | DOT | $34B | $34.01 | 6.77% | 267% | 179% | DOGE | $32B | $0.2466 | 0.28% | 5,261% | 5,173% | LINK | $12B | $27.03 | 2.09% | 140% | 52% | LTC | $12B | $179 | -2.70% | 44% | -44% | BCH | $11B | $607 | -2.29% | 77% | -11% | Our Deep Research Projects | AVAX | $14B | $62.79 | 5.34% | 1,874% | 1,787% | IOTA | $3.7B | $1.33 | 3.55% | 348% | 261% | BSV | $3.4B | $180 | 19% | 10% | -78% | AMP | $2.0B | $0.0472 | -4.32% | 615% | 527% | ZIL | $1.2B | $0.1017 | 3.90% | 22% | -66% | ZEN | $930M | $80.14 | 0.70% | 593% | 505% |
All prices as of October 8, 2021 7:30 AM |
Exchanged Traded Products (ETPs) | |
|
Symbol | Premium to Nav | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
---|
GBTC | -17% | $41.55 | -2.88% | 18% | -69% | BITW | -11% | $50.01 | -0.18% | -4.92% | -93% | ETHE | -5.24% | $34.35 | -1.18% | 186% | 98% | QBTC | -5.34% | $62.82 | 1.72% | 16% | -72% | QETH | -5.64% | $58.29 | 1.82% | 170% | 82% |
All prices as of October 8, 2021 5:40 AM |
|
Symbol | Market Cap | Last Price | Daily Change | Year to date | Relative to BTC YTD |
---|
PYPL | $310B | $264 | -0.20% | 14% | -74% | SQ | $115B | $249 | 4.20% | 13% | -75% | COIN | $66B | $252 | 0.48% | -34% | -122% | HOOD | $35B | $41.84 | -0.52% | Infinity% | Infinity% | SBNY | $18B | $293 | 0.74% | 116% | 28% | MSTR | $7.1B | $693 | 2.82% | 63% | -25% | SI | $4.0B | $152 | -6.75% | 127% | 39% | MARA | $3.8B | $38.42 | -1.39% | 249% | 161% | RIOT | $2.5B | $26.12 | -1.84% | 58% | -29% | MOGO | $312M | $4.43 | -3.06% | 10% | -78% |
All prices as of October 8, 2021 1:40 AM *COIN YTD since 14/04/2021 |
Important Levels and Targets | |
|
| BTC | ETH |
---|
Level | Price | Distance | Price | Distance |
---|
TARGET | $100,000 | 84% | $10,500 | 192% | RESISTANCE II | $63,000 | 16% | $7,500 | 109% | RESISTANCE I | $58,000 | 6.45% | $5,000 | 39% | CURRENT PRICE | $54,484 | | $3,596 | | SUPPORT I | $45,500 | -16% | $3,000 | -17% | SUPPORT II | $43,000 | -21% | $2,000 | -44% | SUPPORT III | $39,000 | -28% | $1,490 | -59% |
|
|
| | | "If those loans fail, even a small percentage of them, one Tether would become worth less than $1," said Bloomberg reporter Zeke Faux. |
| | After saying he was bullish on BTC last week, Orlando Bravo announced that his company will soon invest in the blockchain industry. |
| | A consortium of crypto industry projects is looking to change the narrative on cryptocurrency's impact on the environment. |
| | A new tweet from El Salvador’s President, Nayib Bukele has hinted that the mass adoption of the leading digital asset, Bitcoin, in the country is still growing en masse as more money is being used to purchase the coin. The post Salvadorans are buyin... |
| | Lummis executed her latest purchase on Aug. 16 from the brokerage firm River Financial, according to a filing on Thursday. |
| | Soros Fund Management, founded by billionaire investor George Soros, has invested in bitcoin. The CEO of the asset management company says bitcoin is not just an inflation hedge: “I think it’s crossed the chasm to mainstream.” Soros Fund Management’s... |
|
| | | The derivatives liquidity protocol is working on a next-gen governance module that will be released as an open-source tool. |
|
| | | Investing platform Public, with over 1 million users, is rolling out cryptocurrency trading. “Crypto is gaining momentum as a compelling asset class for millions of investors,” the company said. Public Launches Cryptocurrency Trading Investing platfo... |
|
| | | Global investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assu... |
|
| | | American companies targeted by ransomware attacks would be required to disclose payments made in connection with those incidents under a new law proposed in Congress. The post Democrats propose law to mandate disclosure of ransomware payments by US c... |
|
| | | Stader Labs, an India-based crypto staking project, has raised $4 million in a seed funding round led by Pantera Capital. The post Crypto staking platform Stader Labs raises $4 million in seed funding appeared first on The Block. |
| | Tinyman, an automated market maker (AMM) on the Algorand blockchain, recently raised $2.5 million and is expected to launch in full on Thursday.It joins a crop of projects seeking to attract decentralized finance (DeFi) users to new chains. Be it Tra... |
| | Colombian fintech Movii raised $15 million in a Series B funding round to create a bitcoin purchasing service and expand other services, the company announced Wednesday.The round was co-led by payments services company Square and Hard Yaka, an invest... |
| | [PRESS RELEASE – Please Read Disclaimer] Oct 6th, 2020 : British Virgin Islands: DareNFT, a first-of-its-kind project with a universal NFT2.0 protocol for digital assets recently closed its strategic and private sale round with a staggering $2.4 mill... |
|
| | | The founders allegedly did not seek permission from the startups featured in the game to sell NFTs of fake shares of their companies. The post NFT marketplace selling ‘fantasy equity’ shuts down one day into open beta testing appeared first on The B... |
| | NFTs are launching on Bitcoin—sort of. It's being done through Stacks, which settles its transactions to the leading crypto's blockchain. |
|
|
|