Crypto Daily Report – April 8
Apr 8, 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 FSInsightApril 8, 2022The global crypto market cap has been hovering at $2b mark for the past two weeks, with the past 24 hours seeing a 1.1% decrease. On a relatively flat day for NDAQ and SPX, the BTC market saw an intraday increase before seeing most of its gains eroding as the day progressed. ETH is at an interesting juncture trading at the $3.25k region, with prior local top in early February and support in early January suggesting it is at a key level. Most of other Layer 1 smart contract platforms (apart from NEAR) saw declines throughout the day, with Terra (LUNA) and Harmony (ONE) networks declining 5 and 6% respectively. Yesterday, Luna Foundation Guard announced the purchase of $100m in AVAX tokens, in addition to the BTC reserve launched a month ago. Redemption using UST for BTC and AVAX during periods of distress seems to be the goal of the reserve, and is currently being built out on Terra station. This move is strategic for both Avalanche and Terra ecosystems as UST will gain more adoption on Avalanche, whilst