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Members Area Crypto Daily Crypto Daily Report – August 23

Crypto Daily

Crypto Daily Report – August 23

August 23

FSInsight Team

Crypto Daily Report The Most Important Daily Data for Digital Assets Daily Analysis from FSInsight August 23, 2021

Bitcoin crossed $50,000 for the first time in over three months on Sunday, a key psychological trading level that many investors believed would be met with more resistance than it was. and both increased 3% over the prior 24 hours, and trade around $50,300 and $3,300, respectively, at the time of writing. Something we are keeping an eye on this week is monthly options expiry on Friday. According to data on the leading Bitcoin options exchange, Derebit, there are approximately $1.8 billion of BTC options set to expire on their platform on Friday, and all existing put open interest falls below the $50,000 level.

On Friday, Van Eck and ProShares each withdrew their applications for ETFs based on Ethereum futures contracts, just two days after filing with the SEC. There is speculation that the SEC verbally signaled to the two firms that approval was a longshot. Such sentiments should come as no surprise as the regulatory body is still dragging its feet on approving the first direct- exposure Bitcoin-based ETF in the US (for which there are currently over ten pending applications). As a reminder, SEC Chairman Gary Gensler expressed a couple of weeks ago that he is interested in BTC futures-based ETFs, but stopped short of expressing bullishness on a direct exposure ETF.

Payments giant Visa announced on Monday morning that it purchased a CryptoPunk, one of 10,000 NFTs released by Larva Labs, for approximately 50 ETH. While it is apparent that Visa does wish to help facilitate NFT transactions for consumers in the future, this purchase was an addition to Visa's trove of historically relevant commerce artifacts. Since its inception, CryptoPunks have recorded aggregate lifetime sales of 349,000 ETH, an amount equating to nearly $1.2 billion at current ETH prices. Daily Important Metrics

SENTIMENT BTC METRICS BULLISH SIGNAL A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage # BTC in Exchanges 2.5M ( -0.01% )

FUTURES CME BULLISH SIGNAL A positive spread between Futures Prices and Spot Prices is Bullish BTC Price $50,120 ( 2.85% ) CRYPTO SIZE BULLISH SIGNAL Spot Basis $60.09 ( 0.12% ) Bullish signal is tied to the crypto market growing Volume 6,737 ( 0.00% ) Market Cap $2.1T +$39B ( +1.83% ) Open Interest 6,971 ( 0.00% ) BTC Dominance 43.84% ( -0.10% )

STABLE COINS BULLISH SIGNAL OPTIONS CME NO SIGNAL Increase in circulating is a Bullish signal Higher open interest change in a bull market is In Circulation $65B ( +0.00%) bullish for the sector In Exchanges $4.9B ( +1.40%) Volume 56.00 ( 0.00% ) Open Interest 942 ( 0.00% )

STABLECOIN SUPPLY RATIO CALLS CME NO SIGNAL BEARISH SIGNAL Calls Volume 23.00 ( 0.00% ) Ratio between Bitcoin supply and the supply of Calls Open Interest 387 ( 0.00% ) stablecoins, denominated in BTC SSR 8.17 ( -0.49% ) PUTS CME NO SIGNAL SSR Oscillator -0.6871 ( -0.08% ) Puts Volume CME 33.00 ( 0.00% ) Puts Open Interest 555 ( 0.00% ) FUNDING RATE BULLISH SIGNAL Positive funding rates indicate traders are Bullish Bitmex 0.0100% ( -1.75% ) Binance 0.0100% (+1.63%)

All m e trics as of August 22, 2021 11:53 PM

CRYPTO PRICES

Market Daily Year to Relative to Symbol Last Price Cap Change Date BTC YTD BTC $941B $50,060 1.58% 73% ETH $389B $3,318 1.40% 350% 277% ADA $90B $2.81 6.95% 1,448% 1,376% BNB $81B $482 5.37% 1,191% 1,118% XRP $58B $1.24 -1.12% 465% 393% DOGE $42B $0.3180 -0.66% 6,813% 6,740% DOT $28B $28.11 -0.04% 204% 131% LINK $13B $28.69 0.73% 155% 82% BCH $13B $680 -1.24% 99% 26% LTC $12B $187 -1.37% 50% -22%

Our Deep Research Projects

AVAX $8.5B $49.13 15% 1,445% 1,372% IOTA $3.2B $1.16 5.98% 290% 217% BSV $3.2B $168 -0.72% 2.71% -70% AMP $3.0B $0.0707 19% 971% 898% ZIL $1.3B $0.1138 4.03% 36% -37% ZEN $904M $79.01 3.28% 583% 511% All price s as of August 23, 2021 7:30 AM Exchanged Traded Products (ETPs)

Premium Daily Year to Relative to Symbol Last Price to Nav Change Date BTC YTD GBTC -15% $36.61 -3.51% 4.36% -68% BITW -5.59% $43.70 -5.00% -17% -90% ETHE -7.40% $28.10 -5.39% 134% 62% QBTC -8.42% $62.82 1.72% 16% -56% QETH -8.04% $58.29 1.82% 170% 97% All price s as of August 23, 2021 3:30 AM Stocks

Market Daily Year to Relative to Symbol Last Price Cap Change date BTC YTD PYPL $319B $271 -2.58% 17% -56% SQ $120B $261 -0.96% 18% -55% COIN $66B $251 -2.35% -34% -107% SBNY $15B $246 -4.06% 82% 9.09% MSTR $6.5B $664 -4.85% 56% -17% RIOT $3.1B $32.76 -8.57% 99% 26% MARA $3.1B $30.65 -7.23% 178% 106% SI $2.6B $97.62 -11% 46% -27% MOGO $381M $5.38 -5.11% 34% -39% All price s as of August 17, 2021 11:30 PM *COIN YT D since 14 /04 /2021 Important Levels and Targets

BTC ETH Level Price Distance Price Distance TARGET $100,000 100% $10,500 216% RESISTANCE II $63,000 26% $7,500 126% RESISTANCE I $58,000 16% $5,000 51% CURRENT PRICE $50,060 $3,318 SUPPORT I $45,500 -9.11% $3,000 -9.58% SUPPORT II $43,000 -14% $2,000 -40% SUPPORT III $39,000 -22% $1,490 -55%

News

QUICK BITS Binance Singapore hires former SGX chief regulatory ofcer as CEO

The Block Read the full story > Binance has hired Richard Teng, a former chief regulatory officer of the Singapore Stock Exchange, to head Binance Singapore. The post Binance Singapore hires former SGX chief regulatory officer as CEO appeared first on The Block. Inside Afghanistan's underground as the country plunges into turmoil

CNBC Read the full story > Afghans face a nationwide cash shortage, closed borders, a plunging currency, and rapidly rising prices of basic goods. An emerging crypto scene has helped some.

Visa buys a CryptoPunk as it takes frst steps into ‘NFT commerce’

The Block Read the full story > Visa has bought a CryptoPunk as it enters into the world of NFT commerce, says Visa's head of crypto Cuy Sheffield. The post Visa buys a CryptoPunk as it takes first steps into ‘NFT commerce’ appeared first on The Block.

Wall Street charity bike ride draws a bigger crypto crowd this year

The Block Read the full story > Count this as a sign that crypto is becoming more intertwined with Wall Street: a popular cycling charity event has seen a surge in participation from crypto firms. The post Wall Street charity bike ride draws a bigger crypto crowd this year appeared...

PayPal Launches Crypto Services in UK

Decrypt.co Read the full story > PayPal’s UK customers will be able to buy, sell, and hold four : Bitcoin, Ethereum, and .

MARKET DATA Ethereum Competitor Solana Hits All-Time High As Market Continues to Rise

Decrypt.co Read the full story > Solana and Polygon, two scalable alternatives to Ethereum, lead the altcoin charge today as crypto markets grew 2.74% overnight. OpenSea is frst NFT marketplace to pass $1 billion in monthly trading volume

The Block Read the full story > OpenSea’s trading volume increased 286% from July to August, and it has carried the majority of NFT monthly trading volume since May of this year. The post OpenSea is first NFT marketplace to pass $1 billion in monthly trading volume appeared first ...

Cardano Reaches All-Time High As Rally Continues

Decrypt.co Read the full story > The price of Cardano (ADA) has reached an all-time high of $2.64 this morning.

70K ETH Has Been Burned By EIP-1559: Report

DCForecasts Read the full story > About 70K ETH has been burned by the EIP-1559 upgrade as the network removed $221 million from circulation so let’s read more about the report in our Ethereum news today. Ethereum developers implemented a change to the network which burns gas fees ra...

Bitcoin tops $50,000, hitting a more than 3-month high

CNBC Read the full story > Bitcoin hit $50,000 on Sunday, hitting a more than 3-month high, as the cryptocurrency continues to rebound.

DOSE OF DEFI SushiSwap Avoided A $350 Million DeFi Hack And Here’s How

DCForecasts Read the full story > SushiSwap avoided a $350 million defi hack just a while ago and it would have joined the club of attacked platforms like Poly Network which lost $600 million but it didn’t so let’s see how and why in today’s crypto news. Sushiswap avoided a $350 mill... CRYPTO INFRASTRUCTURE Circle to Be Held 'Entirely' in Cash, US Treasuries

Decrypt.co Read the full story > Centre announced that it will revert to cash and short-term U.S. treasuries backing the industry’s second-largest stablecoin, USD Coin.

Two issuers withdraw SEC submissions for an ETH ETF

The Block Read the full story > The sudden withdrawals have led some to speculate that the SEC has communicated its reluctance to approve an ETH ETF in the current climate. The post Two issuers withdraw SEC submissions for an ETH ETF appeared first on The Block.

AdvisorShares Latest Firm to File for Bitcoin Futures ETF

Decrypt.co Read the full story > SEC Chairman Gary Gensler this month suggested a Bitcoin futures ETF would have an easier time getting approved than a Bitcoin ETF.

REGULATION Our response to a recent editorial from Bloomberg on Congress’s crypto tax proposal

Coinbase Read the full story > By: Lawrence Zlatkin, Global VP of Tax, CoinbaseAs Global Head of Tax for one of the largest crypto exchanges, while I appreciate the Bloomberg Editorial Board’s perspective on the crypto tax provision in the Senate infrastructure bill, I would like ...

BitConnect Promoters Obliged To Pay Over $12M In Penalties

DCForecasts Read the full story > The promoters are obliged to pay over $12 million in penalties as a settlement with the SEC but the case is not over yet. Let’s see more in our latest crypto news today. The crypto world is coming out from the age of darkness and to some e...

FUNDRAISING AND M&A Publicly-backed XREX raises $17M to solve dollar liquidity issues through

BtcEthereum Read the full story > Blockchain technology is being posited as a potential solution to U.S. dollar liquidity issues in emerging markets. Blockchain fintech company XREX has concluded a $17 million pre-A investment round led by a consortium of global investors, underscor...

FSInsight Team

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