Crypto Daily Report – January 12
Jan 12, 2022
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 FSInsightJanuary 12, 2022The 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. Inste