Crypto Daily Report – June 2

Jun 2, 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 FSInsightJune 2, 2022After retreating below $30k and $1.8k this morning, bitcoin (+0.7%) and ether (-0.7%) have rallied in concert with traditional risk assets. Since the US market opened, Nasdaq has increased nearly 2% despite weak guidance from Microsoft and continued hawkish sentiments from Fed officials. Overall, leading altcoins have not shown nearly as much resilience as bitcoin. Bitcoin dominance (BTC market cap / global crypto market cap) continues to rise, nearing 47% this afternoon. The rise in bitcoin dominance is likely due to crypto natives reducing exposure to alts and many recognizing the long-term asymmetric upside to bitcoin at current price levels.  Figure: YTD Bitcoin DominanceIn what is becoming a seemingly weekly tradition, layer 1 network Solana suffered yet another outage yesterday, halting block production for over four hours. The outage was caused by a bug in how the network processes "durable nonce transactions." This feature was removed from the code, validators restarted the network, and things ha

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