Crypto Daily Report – May 6

May 6, 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 FSInsightMay 6, 2022Over the past 24 hours, the total crypto market has declined 8.4% or $150 billion in market cap to $1.64 trillion. BTC is down 9% to about $36,000, underperforming ETH, which is down 8% and is currently hovering around $2,650. The sell-off in crypto mirrors yesterday's equity sell-off where high-growth tech names like ARKK were similarly down high single digits. While funding rates on BTC perpetual futures contracts have since stabilized, yesterday they reached negative levels not seen since January, indicating a short-lived short bias amongst traders.Yesterday, the Luna Foundation Guard (LFG) announced it had raised an additional $1.5 billion to continue purchasing BTC for its reserves. The purchase included 37,863 BTC via over-the-counter swaps with Genesis Trading and assistance from Three Arrows Capital. Specifically, the deal included a $1 billion swap with Genesis for $1 billion in Terra's UST stablecoin and a $500 million BTC purchase from Three Arrows Capital. To date, LFG has accumulated approximat

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CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -0.64% TESTING THE $65K LEVEL, ETH -3.33% TRADING AROUND $3500, AND SOL -5.21% 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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