Crypto Daily Report – April 11

Apr 11, 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 11, 2022Macro uncertainty remains front and center as cryptoassets are experiencing a drawdown in concert with global equities. The S&P 500 (-1.2%) and Nasdaq (-1.7%) are trending lower as the US 10Y approaches 2.8% this morning. Meanwhile, the global crypto market is down nearly 5% since yesterday, as bitcoin (-4.8%) and ether (-7.5%) open with sizeable red candles. Leading smart contract platforms such as AVAX, LUNA, and SOL are all down over 8%, while the overall web3 sector is down nearly 10% over the past 24 hours. LFG, a market participant we have written extensively about over the past several weeks, resumed its bitcoin purchases this weekend, adding $173 million of bitcoin to its wallet. This transaction brought its total reserve balance to 39,898 BTC. Despite the continued market support, we see macro uncertainty outweighing these inflows. Following previous LFG purchases, we witnessed a rise in realized cap as others followed LFG's lead. However, realized cap has remained flat since this latest purcha

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CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -0.09% TESTING THE $65K LEVEL, ETH -1.05% TRADING AROUND $3500, AND SOL -2.16% APPROACHING $140. The ETHBTC ratio is declining again after a weekend relief rally sparked by news from Bloomberg ETF expert Eric Balchunas on Friday evening, clarifying his timeline for the ETH ETF launch. Meanwhile, the DXY continues its upward trajectory from the post-CPI selloff,...

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