Crypto Daily Report – January 26

Jan 26, 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 26, 2022The global crypto market cap is currently trading at $1.7t, a 4.5% increase over the 24 hours. This recent recovery has been led by the King of digital assets, illustrated by the rise of Bitcoin dominance from 40% to 42% over the past week. Funding has grown increasingly negative amidst higher cash-margined open interest, reflecting the negative sentiment heading into today's FOMC meeting on rate hikes. While rate hikes are necessary to curb recent inflation spikes, markets may have fully priced in these expectations, and market conditions may be pointing towards a favorable move after the meeting. Chicago-based crypto exchange FTX US has raised $400m in funding at an $8b valuation, led by Softbank Group, Temasek Holdings, Paradigm, and Multicoin Capital. President Brett Harrison has indicated that these funds will be used to further its offerings and expand its workforce. One such deal was inked in 2021, where FTX US acquired LedgerX to expand its spot trading services by offering investors BTC and E

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CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC -0.27% breaking below $67k, ETH -0.15% finding support around $3500, and SOL -2.36% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

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