Crypto Daily Report – April 19

Apr 19, 2022
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Most Important Daily
Data and News for Digital Assets

Crypto Daily Report

The Most Important Daily
Data for Digital Assets

Daily Updates from FSInsightApril 19, 2022
  • After a week of flat to down price action, the global crypto market is showing strength and is up 3.85% over the past 24 hours. Bitcoin is up 4.2%, while Ethereum is slightly underperforming Bitcoin, up about 4%. Outside of the two largest digital assets, smart contract platforms like SOL (+5.2%) and LUNA (+9.7%) are outperforming the broader market, highlighting a move further out on the risk curve by crypto investors. As we've highlighted in previous weeks, funding rates on BTC perpetual futures contracts remain flat, indicating traders have still yet to make high conviction bets to the upside or downside.
  • Yesterday, three US government groups including, the FBI, US Treasury Department, and Cybersecurity and Infrastructure Security Agency (CISA), alerted the crypto community to the growing threat of North Korean hackers. The cybersecurity advisory said that CISA (part of the US Department of Homeland Security) has observed that North Korean state-sponsored hacking groups are focusing their illicit efforts on the crypto community, specifically targeting individuals known to work at crypto companies. The alert comes a week after the US Government named Lazarus, a known North Korean hacking group, as the group behind the recent $600 million Ronin hack. The Ronin hack, which targeted the chain supporting the popular Play-to-Earn game Axie Infinity was the largest crypto hack in history.
  • Australia's first bitcoin ETF is expected to launch next week on the Australian Securities Exchange (ASX). Interestingly, the ETF will take a unique approach to provide investors exposure to spot BTC by not accumulating BTC at spot but rather accumulating shares in Canada's Purpose Bitcoin ETF, North America's first BTC spot ETF. Cosmos Asset Management, the fund manager, is owned by Nasdaq-listed bitcoin mining company Mawson Infrastructure Group.
Daily Technical Strategy - Mark Newton, CMT

Solana's outperformance today looks to continue following SOLUSD's push higher to the highest level on a daily close in more than a week. SOL daily charts show Tuesday's minor breakout above a one-week period of consolidation which from a structural perspective looks important and positive. SOL's pullback from early April retraced nearly an exact 50% of the prior low to high range from late February before starting to stabilize recently. This week's surge now likely follows-through to short-term targets at $113.36, then $119. While short-term momentum has gotten overbought on intra-day charts, daily RSI remains in neutral territory, and looks to be just starting to turn higher. Overall, much of the recent Crypto bounce might depend on Equities also following through, which might prove difficult outside of a small bounce. Yet near-term stabilization looks to be giving way to short-term rallies and for SOLUSD, gains look likely until/unless this were to breach $101 which would postpone the rally.

Daily Important Metrics

Sentiment

Crypto Daily Report – April 19

Crypto Size  Bullish Signal

Bullish signal is tied to the crypto market growing

Market Cap $1.90T +$70B (+3.85%)

BTC Dominance   41.02% (+0.14%)

Stable Coins   Bullish Signal

Increase in circulating stablecoins is a Bullish signal

In Circulation $83B (+0.08%)

In Exchanges $7.3B (+1.54%)

Stablecoin Supply Ratio  Bearish Signal

Ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC

SSR 4.80 (2.85%)

SSR Oscillator -0.8942 (-8.42%)

Funding Rate   Bearish Signal

Positive funding rates indicate traders are Bullish

Bitmex 0.0075% (-163%)

Binance 0.0100% (-376%)

BTC Metrics Bullish Signal

A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage

# BTC in Exchanges 2.4M (-0.07%)

Futures CME Bearish Signal

A positive spread between Futures Prices and Spot Prices is Bullish

BTC Price $40,935 (4.37%)

Spot Basis   $-54.19 (-0.13%)

Volume 6,734 (100%)

Open Interest  10,877 (1.02%)


Options CME No Signal

Higher open interest change in a bull market is bullish for the sector

Volume 72.00 (2,300%)

Open Interest 1,562 (2.97%)

Calls CME Bullish Signal

Calls Volume 32.00 (967%)

Calls Open Interest 404 (8.31%)

Puts CME Bearish Signal

Puts Volume CME NaN (0.00%)

Puts Open Interest 1,158 (1.22%)

All metrics as of April 19, 2022 8:39 AM
Crypto Prices
SymbolMarket CapLast PriceDaily ChangeYear to DateRelative to BTC YTD
BTC$779B$40,9894.21%-12%
ETH$369B$3,0624.09%-18%-5.38%
SOL$35B$1045.18%-40%-28%
LUNA$32B$90.889.65%6.32%19%
ADA$32B$0.93643.89%-29%-17%
DOGE$19B$0.14062.79%-18%-5.58%
DOT$18B$18.434.22%-32%-20%
MATIC$11B$1.426.52%-44%-31%
LINK$6.6B$14.144.95%-29%-16%
FTM$2.9B$1.154.62%-49%-36%
HNT$2.2B$19.350.39%-49%-36%
Our Deep Research Projects
AVAX$21B$78.756.00%-28%-16%
IOTA$1.9B$0.67235.61%-51%-38%
BSV$1.6B$84.833.36%-30%-18%
ZIL$1.4B$0.11116.44%46%59%
AMP$928M$0.02203.52%-55%-42%
ZEN$470M$38.265.19%-38%-25%
VGX$411M$1.483.89%-50%-38%

All prices as of April 19, 2022 8:39 AM

Exchanged Traded Products (ETPs)
SymbolPremium to NavLast PriceDaily ChangeYear to DateRelative to BTC YTD
GBTC-22%$29.503.51%-14%-1.39%
BITW-26%$28.680.42%-25%-12%
ETHE-27%$22.240.12%-31%-19%
QBTC-1.72%$43.351.07%-29%-16%
BTCC0.03%$7.602.01%-12%0.65%

All prices as of April 19, 2022 8:04 AM

Stocks
SymbolMarket CapLast PriceDaily ChangeYear to dateRelative to BTC YTD
PYPL$216B$102-2.72%-46%-33%
SQ$76B$119-1.58%-26%-14%
COIN$65B$147-4.85%-42%-29%
SBNY$18B$2670.26%-18%-5.10%
HOOD$15B$10.99-3.43%-38%-26%
MSTR$6.1B$449-3.10%-18%-5.02%
SI$4.2B$116-1.58%-22%-9.04%
MARA$3.5B$21.23-4.80%-35%-23%
RIOT$2.7B$14.79-1.20%-34%-21%
VOYG.TO$1.5B$5.27-0.19%-67%-54%
VYGVF$1.2B$9.390.97%-25%-12%
MOGO$223M$2.31-5.71%-32%-20%

All prices as of April 17, 2022 8:00 AM

News
QUICK BITS
Silvergate Bank's Q1 Net Income Nearly Doubles to $24.7M
CoinDeskRead the full story >
Crypto-focussed Silvergate Bank recorded net income of $27.4 million in Q1 2022, more than doubling its income of $12.7 million for the corresponding quarter a year earlier.
Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method
Bitcoin.comRead the full story >
Real estate investments are booming in Spain and Europe, as investors are exiting riskier investment avenues in favor of safer options. According to sources from the real estate world, the interest in these instruments has grown 400% since November, ...
US government warns that North Korea is targeting crypto firms
The BlockRead the full story >
On Monday, three major US government entities issued a joint alert on cyber threats faced by companies working in the blockchain sector. The post US government warns that North Korea is targeting crypto firms appeared firs...
Secret Service seizes more than $102 million in crypto assets
CNBCRead the full story >
The U.S. Secret Service, known for protecting the president, is taking aim at illicit digital currencies, seizing over $102 million in the past seven years.
CRYPTO INFRASTRUCTURE
BTC Lightning Network Payments Surge Over 400%: Report
DCForecastsRead the full story >
The BTC lightning Network payments surge over 400% with more than 80 million users being estimated to have access to the network compared with 100,000 users last summer according to a report by Arcane Research so let’s read more today in our latest B...
THOUGHTS AND OPINIONS
Andre Cronje: ‘regulated crypto’ more feasible than ‘crypto regulations’
The BlockRead the full story >
The DeFi developer says he wants to promote regulated crypto access instead of fighting with the authorities over crypto regulations. The post Andre Cronje: ‘regulated crypto’ more feasible than ‘crypto regulations’ appear...
REGULATION
Ireland Banned Crypto Donations To Political Parties
DCForecastsRead the full story >
Ireland banned crypto donations to political parties according to the new raft of proposed laws that we see in our latest cryptocurrency news today. Ireland banned crypto donations to political parties under the new political integrity laws drafted d...
FUNDRAISING AND M&A
The Sandbox gears up to raise $400 million at a $4 billion valuation: report
The BlockRead the full story >
The news comes less than six months after the platform raised $93 million in a Series B round led by SoftBank. The post The Sandbox gears up to raise $400 million at a $4 billion valuation: report appeared first on The Blo...
Blockchain.com Looks At An IPO As Early As This Year: Report
DCForecastsRead the full story >
Blockchain.com looks at an IPO as early as this year and it is looking at a listing after reaching a valuation of $14 billion last month so let’s read more in today’s latest blockchain news. Crypto exchange Blockchain.com looks at an IPO that will li...
INVESTMENT PRODUCTS
First-Ever Bitcoin ETF to Go Live in Australia Next Week: Report
CryptoPotatoRead the full story >
The Cosmos Asset Management bitcoin ETF is set to become the first-ever BTC-tracking ETF approved in Australia next week.

Reports you may have missed

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 0.35% breaking below $67k, ETH 0.68% finding support around $3500, and SOL 0.74% 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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