Crypto Daily Report – June 28
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This document is being provided publicly in the following form. Please subscribe to FSInsight.com for more. Members Area Crypto Daily Crypto Daily Report – June 28 Crypto Daily Crypto Daily Report – June 28 June 28 FSInsight Team Crypto Daily Report The Most Important Daily Data for Digital Assets Daily Analysis from FSInsight June 28, 2021 It was a volatile weekend for crypto, as Bitcoin dropped from $34,700 on Friday to nearly $30,000 on Saturday morning before rallying 17% to $35,000 through Sunday and into Monday morning. Similarly, Ethereum dropped from around $1,900 on Friday to $1,700 on Saturday morning, followed by a bounce towards $2,000 on Monday morning. As noted in our Crypto Blast on Friday evening, these swings were likely the result of concerns over leverage and counterparty risk of some lenders in the market. The UK's Financial Conduct Authority (FCA) ordered Binance Markets Limited (BML), a subsidiary of the world's leading crypto exchange Binance, to cease any regulated activity within the country. According to Binance, while this prevents BML from offering regulated services such as options and futures trading, crypto services offered through Binance.com should be unaffected by the ban. Ricardo Salinas Pliego, Mexican billionaire and founder of Grupo Salinas, mentioned on Saturday that the Grupo Salinas-owned Banco Azteca might start offering bitcoin-related services. Salinas, the third- richest person in Mexico, revealed last year that 10% of his portfolio is in BTC, and has been publicly critical of the fiat system in past interviews. Daily Important Metrics CRYPTO SIZE SENTIMENT BULLISH SIGNAL Bullish signal is tied to the crypto market growing Market Cap $1.4T +$42B ( +3.18% ) BTC Dominance 46.77% ( -0.68% ) STABLE COINS FUTURES CME BULLISH SIGNAL A positive spread between Futures Prices and Spot BULLISH SIGNAL Prices is Bullish Increase in circulating stablecoins is a Bullish signal BTC Price $34,220 ( 6.27% ) In Circulation $63B ( +0.01%) Spot Basis In Exchanges $4.0B ( +0.00%) $135 ( 0.40% ) FUNDING RATE Volume 7,799 ( 0.00% ) Open Interest BEARISH SIGNAL Positive funding rates indicate traders are Bullish 7,945 ( 0.00% ) Bitmex -0.03% ( +257% ) Binance -0.00% (-88%) OPTIONS CME NO SIGNAL Higher open interest change in a bull market is bullish for the sector BTC METRICS BEARISH SIGNAL A decrease in Bitcoin on exchanges is bullish, indicates Volume 126 ( 0.00% ) investors are moving coins to cold storage Open Interest 1,504 ( 0.00% ) # BTC in Exchanges 2.6M ( 0.08% ) All m e trics as of June 28, 2021 12:07 AM CRYPTO PRICES Market Daily Year to Relative to Symbol Last Price Cap Change Date BTC YTD BTC $639B $34,085 4.45% 18% ETH $232B $1,991 9.41% 170% 152% BNB $44B $285 3.00% 664% 646% ADA $42B $1.31 5.12% 620% 603% DOGE $33B $0.2526 4.77% 5,390% 5,373% XRP $29B $0.6288 3.92% 187% 170% DOT $14B $14.82 3.66% 60% 42% BCH $8.9B $476 5.12% 39% 21% LTC $8.7B $131 3.78% 5.34% -12% LINK $7.9B $18.15 7.89% 61% 44% Our Deep Research Projects AMP $2.5B $0.0600 2.56% 809% 792% BSV $2.5B $132 4.46% -19% -37% IOTA $2.2B $0.7995 4.94% 170% 152% AVAX $1.9B $10.77 5.11% 239% 221% ZIL $861M $0.0753 9.74% -9.88% -27% ZEN $660M $58.70 5.64% 408% 390% All price s as of June 28, 2021 11:21 AM Exchanged Traded Products (ETPs) Premium Daily Year to Relative to Symbol Last Price to Nav Change Date BTC YTD GBTC -6.86% $28.32 -4.36% -19% -37% BITW 5.55% $36.50 0.27% -31% -48% ETHE -1.26% $18.29 -7.30% 52% 35% QBTC -1.82% $62.82 1.72% 16% -1.20% QETH -5.22% $58.29 1.82% 170% 152% All price s as of June 28, 2021 7:22 AM Stocks Market Daily Year to Relative to Symbol Last Price Cap Change date BTC YTD PYPL $340B $293 -0.21% 26% 8.63% SQ $109B $243 -0.39% 9.96% -7.57% COIN $59B $227 -1.29% -40% -58% SBNY $15B $255 1.36% 88% 71% MSTR $5.4B $567 -2.48% 33% 16% RIOT $3.2B $33.00 -3.00% 100% 83% MARA $2.8B $28.55 -3.14% 159% 142% SI $2.7B $105 -1.72% 57% 39% MOGO $499M $7.40 0.41% 84% 67% All price s as of June 27, 2021 11:30 PM *COIN YT D since 14 /04 /2021 Important Levels and Targets BTC ETH Level Price Distance Price Distance TARGET $100,000 193% $10,500 427% RESISTANCE II $39,000 14% $3,000 51% RESISTANCE I $34,606 1.53% $2,000 0.43% CURRENT PRICE $34,085 $1,991 SUPPORT I $30,145 -12% $1,490 -25% SUPPORT II $20,000 -41% $1,380 -31% SUPPORT III $14,000 -59% $750 -62% News QUICK BITS Event confirms Elon Musk will discuss bitcoin with Jack Dorsey in July The Block Read the full story > A spokesperson for the event has confirmed that Tesla CEO Elon Musk will share a stage with Twitter CEO Jack Dorsey next month. The post Event confirms Elon Musk will discuss bitcoin with Jack Dorsey in July appeared first on The Block. Bitcoin’s Energy Consumption Has Nosedived Since China’s Mining Crackdown Decrypt.co Read the full story > Bitcoin has been consuming less and less energy ever since China cracked down on the Bitcoin mining industry. So, What Are Bitcoin Miners Actually Doing? Bitcoin Magazine Read the full story > Let’s take a deeper look at what may appear as a magical process: bitcoin mining. MARKET DATA Ethereum Gas Fees are the Lowest They’ve Been in 6 Months Decrypt.co Read the full story > Bitcoin fees also fell overnight as demand for the cryptocurrencies continues to wane. THOUGHTS AND OPINIONS Boston Fed President Says the ‘Exponential Growth’ of Stablecoins Could ‘Disrupt’ Money Markets Bitcoin.com Read the full story > Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponenti... Mexico’s Third Richest Man Recommends Bitcoin, His Bank Is Working to Accept BTC, Says Fiat Money Is a Fraud Bitcoin.com Read the full story > Ricardo Salinas Pliego, Mexico’s third-richest man and founder of Grupo Salinas, sees bitcoin as an asset with extraordinary properties, describing the cryptocurrency as “gold for the modern world.” He recommends bitcoin, thinks that fiat money is a ... REGULATION Bank of Tanzania Hints at Possible Crypto Ban Reversal as Spokesman Confirms Bank Is ‘Working on the Directives Given’ Bitcoin.com Read the full story > In a hint that Tanzania might soon reverse its 2019 crypto ban, an unnamed spokesperson of the Bank of Tanzania (BOT) recently suggested the apex bank is “working on the directives given.” The remarks by the spokesperson follow Tanzanian President Sa... Binance, the world's largest cryptocurrency exchange, gets banned by UK regulator CNBC Read the full story > Britain's Financial Conduct Authority said that Binance Markets Limited "is not permitted to undertake any regulated activity in the U.K." Crypto exchange Huobi bans Chinese residents from trading derivatives The Block Read the full story > The exchange has prohibited its users in China from accessing derivatives markets, having already reduced the amount of leverage available. The post Crypto exchange Huobi bans Chinese residents from trading derivatives appeared first on The Block. Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges Bitcoin.com Read the full story > Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law. Japanese Regulator’s ... FUNDRAISING AND M&A CoinFund set to launch new investment vehicle for NFTs The Block Read the full story > The planned vehicle, called Metaversal, which will serve as both a way for investors to bet on the market and as a development studio. The post CoinFund set to launch new investment vehicle for NFTs appeared first on The Block. FSInsight Team Disclosures (show).