Most Important Daily
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Data for Digital Assets |
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| Daily Updates from FSInsight | January 12, 2022 |
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- The total crypto market cap is trading at $2.07T, a 4% increase over the past 24 hours. Bitcoin and ETH are trading at $44k and $3.4k, respectively, rebounding 10% from its low of $40k at the beginning of the week. Alternate Layer 1s have demonstrated strength throughout, with ATOM, FTM, and ONE taking charge. We see this surge as a strong response to the CPI print detailed below.
- The minutes by the U.S. Labor Department released today revealed a CPI clip of 7%, marking the highest levels since June 1982. As many investors perceive Bitcoin to be a hedge against inflation, this macro development pushed the price of Bitcoin to $44k at the time of writing. Fed Chairman Jerome Powell reiterated his hawkish stance during his confirmation hearing, hinting that the economy no longer needs the loose monetary policy adopted by the Federal Reserve since the start of the pandemic.
- Polygon (MATIC), a layer-two Ethereum (ETH) scaling solution announced the launch of Plonky2, a zero-knowledge scaling technology. Instead of having every staker verify posted transactions as with Optimism roll-ups, zero-knowledge allows verification of roll-up proofs and is regarded as the superior solution to ETH's scaling troubles. Nodes do not need to store the history of the blockchain's transactions to be functional, enabling linear scaling of blockchains moving forward.
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| Daily Technical Strategy | | Following a near 27% rally in the last four trading sessions, $LUNAUSD has now reached an area of utmost importance as to whether this bounce can follow-through, or will reverse. Hourly LUNA charts shows the downtrend from late December which intersects near $82. Additional resistance comes in at 81.50, caused by former late December lows (which should now be formidable resistance on this first retest) Bottom line, getting through $82 would be a meaningful and positive step towards allowing for a much bigger rally. However, until this happens, the area at $81.50-$82 causes some resistance in the next 3-5 trading days. First key support lies at $75.50 and under on a close suggests LUNA has some additional work to do on the downside, postponing the rally. | |
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| Daily Important Metrics | | Sentiment 
Crypto Size Bullish Signal Bullish signal is tied to the crypto market growing Market Cap $2.1T +$100B (+5.10%) BTC Dominance 39.84% (-1.34%) | Stable Coins Bullish Signal Increase in circulating stablecoins is a Bullish signal In Circulation $78B (+0.14%) In Exchanges $5.8B (+3.53%) | Stablecoin Supply Ratio Bearish Signal Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC SSR 5.39 (1.18%) SSR Oscillator -1.59 (-3.49%) | Funding Rate Bearish Signal Positive funding rates indicate traders are Bullish Bitmex -0.0221% (-876%) Binance -0.0064% (-166%) |
| 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 (-0.28%) | Futures CME Bearish Signal A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $43,475 (4.18%) Spot Basis $-80.48 (-0.18%) Volume 6,995 (-29%) Open Interest 10,855 (-3.69%)
| Options CME No Signal Higher open interest change in a bull market is bullish for the sector Volume 38.00 (-63%) Open Interest 1,393 (1.53%) Calls CME Bullish Signal Calls Volume 16.00 (-24%) Calls Open Interest 303 (3.41%) Puts CME Bearish Signal Puts Volume CME 22.00 (-50%) Puts Open Interest 1,090 (1.02%) |
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| | All metrics as of January 12, 2022 2:30 AM |
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| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
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| BTC | $824B | $43,555 | 2.87% | 50% | | | ETH | $400B | $3,358 | 5.45% | 355% | 305% | | BNB | $81B | $483 | 5.50% | 1,192% | 1,142% | | SOL | $47B | $150 | 7.87% | 9,821% | 9,770% | | ADA | $43B | $1.28 | 9.64% | 607% | 557% | | XRP | $37B | $0.7874 | 4.65% | 260% | 209% | | DOT | $27B | $27.09 | 6.25% | 193% | 142% | | DOGE | $21B | $0.1602 | 5.62% | 3,383% | 3,333% | | LINK | $12B | $26.40 | -1.93% | 135% | 85% | | LTC | $9.5B | $137 | 4.77% | 10% | -40% | | BCH | $7.2B | $382 | 3.13% | 11% | -39% | | Our Deep Research Projects | | AVAX | $23B | $95.37 | 7.64% | 2,899% | 2,849% | | IOTA | $3.3B | $1.18 | 5.77% | 297% | 246% | | BSV | $2.1B | $113 | 3.87% | -31% | -81% | | AMP | $1.8B | $0.0427 | 2.72% | 546% | 496% | | ZIL | $801M | $0.0653 | 8.33% | -22% | -72% | | ZEN | $713M | $59.67 | 6.26% | 416% | 366% |
All prices as of January 12, 2022 4:30 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 | -22% | $35.71 | -2.70% | 1.80% | -48% | | BITW | -22% | $41.88 | -2.83% | -20% | -71% | | ETHE | -13% | $32.93 | -5.18% | 174% | 124% | | QBTC | -4.02% | $62.82 | 1.72% | 16% | -34% | | QETH | -4.37% | $58.29 | 1.82% | 170% | 120% |
All prices as of January 12, 2022 11:30 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 | $185 | -0.99% | -20% | -70% | | SQ | $76B | $167 | -2.05% | -24% | -75% | | COIN | $65B | $251 | -1.94% | -34% | -84% | | SBNY | $18B | $299 | -0.21% | 121% | 71% | | HOOD | $15B | $18.26 | -4.55% | -52% | -102% | | MSTR | $6.1B | $563 | -2.99% | 32% | -18% | | SI | $4.2B | $137 | -1.58% | 105% | 54% | | MARA | $3.5B | $35.38 | -5.22% | 221% | 171% | | RIOT | $2.7B | $23.45 | -5.94% | 42% | -7.90% | | MOGO | $223M | $3.19 | -6.45% | -21% | -71% |
All prices as of December 15, 2021 8:38 AM *COIN YTD since 14/04/2021 |
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| | | | A class action against EthereumMax and its promoters has named Kim Kardashian and Floyd Mayweather Jr. among the defendants. The post Class action against EthereumMax names Kim Kardashian, Floyd Mayweather Jr., as defendants appeared first on The Bl... |
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| | | | The U.S. Labor Department’s Consumer Price Index (CPI), the most widely used gauge for tracking inflation, rose to an annual clip of 7.0%, hitting predictions made by economists. This marks the highest increase since June 1982, beating last month’s 6... |
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| | | | DeFi is one of crypto's biggest growth stories, but it's also riddled with the most controversy. The sector lost $1.3 billion due to exploits in 2021. |
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| | | | A group of U.S. banks has formed a consortium to develop a stablecoin called USDF to address concerns about the opaque nature of reserves that back up non-bank issued equivalents. |
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| | | | The fund will help provide a legal defense for Bitcoin developers and will include a team of volunteers and part-time lawyers. |
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| | | | Crypto-friendly Indonesian investment super-app Pluang has announced that it has raised $55 million in a round led by Accel. The post Indonesian financial super-app Pluang raises $55 million from Accel appeared first on The Block. |
| | | The Series C funding round was co-led by Alameda Research and DeFi Technologies. |
| | | Crypto services startup Zero Hash announced on Wednesday it has raised $100 million in a series D fundraising round. The post Zero Hash raises $105 million in series D round appeared first on The Block. |
| | | The league is doubling in size for its second season with the leaders of Bored Ape Yacht Club managing a new team. |
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| | | | Is the long-awaited decentralized OpenSea finally here or is LooksRare propped up by wash trading? |
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| | | | The layer-two protocol addresses the historic limitations of Bitcoin to improve speeds while reducing transaction fees. |
| | | The move comes after Polygon allocated $1 billion to the advancement of zero knowledge technology. |
| | | The company plans to expand into Brazil and Colombia in 2022. |
| | | Last August, Ramp became one of only eight crypto firms to secure approval from U.K.'s Financial Conduct Authority. |
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| | | | While traditional hedge funds lagged equity benchmarks, crypto funds were able to deliver returns that topped bitcoin and the Bloomberg Galaxy Crypto Index. The post Crypto funds outperformed traditional hedge funds and digital asset benchmarks appe... |
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