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Crypto Daily Report – October 8

Oct 8, 2021
body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightOctober 8, 2021At 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 opaq

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AAVE -0.90% BTC -0.14% BUIDL ETH -0.36% GHO 0.10% IWM +0.59% KRE +0.54% MKR -0.20% QQQ +1.15% SOL -1.81% ^SPX STX 0.07% TON 39.07% USDC -0.01%

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