Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Crypto Daily Report – February 7

Feb 7, 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 FSInsightFebruary 7, 2022Bitcoin and Ethereum continue their climb on Monday morning, as they trade above $43k and $3.2k, respectively, for the first time in several weeks. At the time of writing, BTC and ETH each trade over 4% higher compared to 24 hours ago, as the global crypto market cap nears the $2 trillion level once again. Interestingly, despite the resurgence in the crypto market, derivatives markets appear cautiously positioned as perpetual futures funding rates for both BTC and ETH on Monday morning are mostly negative, and Bitcoin's put/call ratio increased from .65 to .68 over the prior week.Japan's largest financial institution Mitsubishi UFJ announced it would launch a yen-pegged stablecoin next year to clear and settle digital securities. The stablecoin will be titled Progmacoin, and its primary purpose is to increase fund delivery speeds and lower costs. While this appears to be a private stablecoin, this decision by Mitsubishi UFJ speaks to the fact that stablecoin rails have real utility and can result in si

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Bitcoin Is A New Concept Of Virtual Money, The Graphics And Digital Background. Coins With The Image Of The Letter B.

MARKET UPDATE U.S. EQUITIES ARE RELATIVELY FLAT ON THE FINAL DAY OF TRADING FOR AUGUST, WITH THE ^SPX 0.91%  OSCILLATING AROUND $5,600 AND THE NDQ TRADING NEAR $19,400. Rates and the dollar are gaining today despite PCE and Consumer Confidence data providing more assurance that inflation is receding. Crypto is underperforming, with BTC 0.08% falling to $58.5k and ETH -0.01% at $2,450, as ETF flows and spot volumes have been muted this week....

BTC 0.08% ETH -0.01% FET -2.88% RNDR -3.51% SAFE N/A% SOL -0.47% ^SPX TAO 0.68%
Crypto Coins On Gold Background

CRYPTO MARKET UPDATE In stark contrast to the recent BLS job number revisions, the government revised its Q2 GDP estimate higher this morning to 3%, leading to a jump in rates and the DXY. However, this data also apparently boosted confidence in the soft landing trade, as rate-sensitive indices like IWM are outpacing ^SPX 0.91%  and QQQ 1.15% . Chip-adjacent stocks are also performing well, spurred by another earnings beat from NVDA 1.39% , benefiting...

BTC 0.08% CORZ ETH -0.01% HNT -1.29% IREN NVDA +1.39% QQQ +1.15% SOL -0.47% ^SPX STX -0.07% WULF
Crypto 2021 Mid-Year Outlook

MARKET UPDATE U.S. EQUITIES ARE DECLINING AHEAD OF NVIDIA EARNINGS LATER TODAY, WITH THE SPY 0.91%  DECREASING TO $558.53, WHILE THE NVIDIA-HEAVY QQQ 1.15%  HAS DROPPED TO $472.20. The crypto market has suffered from large amounts of liquidations over the last 24 hours, totaling over $355 million as yesterday evening, BTC 0.08% fell swiftly from $62k down to $58k while ETH -0.01% made a similar move, falling from $2.6k to $2.4k in less than...

BLUR 11.44% BNB -0.09% BTC 0.08% ETH -0.01% ETHBTC LOOKS 0.26% QQQ +1.15% SPY +0.91% TON 48.02%
The 2 reasons bitcoin could surge by 170% to $168,000 by year-end as crypto-linked ETFs roll out

CRYPTO MARKET UPDATE Despite a $200 million inflow into BTC ETFs yesterday, crypto prices have declined over the past 24 hours. BTC 0.08% has fallen back below $62K, ETH -0.01% is under $2,600, and SOL -0.47% is just below $155. Only a few coins are in the green today, including TON 48.02% , rebounding from its recent selloff, MKR -0.78% , following its major rebrand announcement, and STX -0.07% , likely benefiting from the ongoing activation of the Nakamoto...

AAVE 1.28% BTC 0.08% BUIDL ETH -0.01% GHO 0.08% IWM +0.59% KRE +0.54% MKR -0.78% QQQ +1.15% SOL -0.47% ^SPX STX -0.07% TON 48.02% USDC 0.00%

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In