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Crypto Daily Report – June 9

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Crypto Daily Report – June 9 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 9 Crypto Daily Crypto Daily Report – June 9 June 9 FSInsight Team Crypto Daily Report The Most Important Daily Data for Digital Assets Daily Analysis from FSInsight June 9, 2021 Late Tuesday evening, lawmakers in El Salvador's Congress voted by a supermajority in favor of making bitcoin legal tender. The law allows for the prices of goods and services to be denominated and paid in BTC, and perhaps more notably, exempts any exchanges in bitcoin from capital gains tax. Coinbase (Nasdaq: COIN) revealed Tuesday that its institutional holdings grew 170% from $45 billion to $122 billion in Q1 2021 as demand skyrocketed alongside the latest crypto bull run. The Company has over 8,000 institutional clients, many of which use its Coinbase Custody product. Crypto exchange Gemini acquired custody specialist Shard X for an undisclosed amount on Wednesday morning. Gemini COO, Noah Perlman, stated that the acquisition will enable Gemini " to meet the current demand for fast withdrawals, interacting with DeFi staking, or the transferring of digital assets with greater efficiency." Daily Important Metrics CRYPTO SIZE SENTIMENT BULLISH SIGNAL Bullish signal is tied to the crypto market growing Market Cap $1.5T +$42B ( +2.79% ) BTC Dominance 41.64% ( +1.49% ) 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 ( 4.58% ) In Circulation $62B ( +0.15%) Spot Basis In Exchanges $1.9B ( +1.29%) $53.01 ( 0.16% ) FUNDING RATE Volume 12,285 ( 67% ) Open Interest BULLISH SIGNAL Positive funding rates indicate traders are Bullish 7,564 ( 6.42% ) Bitmex 0.01% ( -130% ) Binance 0.01% (+75%) OPTIONS CME BULLISH SIGNAL Higher open interest change in a bull market is bullish for the sector BTC METRICS BULLISH SIGNAL A decrease in Bitcoin on exchanges is bullish, indicates Volume 128 ( 327% ) investors are moving coins to cold storage Open Interest 1,113 ( 7.43% ) # BTC in Exchanges 2.5M ( -1.11% ) All m e trics as of June 9, 2021 12:07 AM CRYPTO PRICES Market Daily Year to Relative to Symbol Last Price Cap Change Date BTC YTD BTC $640B $34,167 3.04% 18% ETH $292B $2,516 -0.08% 241% 223% BNB $55B $358 1.30% 857% 840% ADA $50B $1.56 1.57% 760% 742% DOGE $42B $0.3260 -0.33% 6,986% 6,969% XRP $40B $0.8668 0.31% 296% 278% DOT $21B $21.69 1.37% 134% 116% BCH $11B $594 1.43% 73% 56% LTC $11B $160 0.89% 29% 11% LINK $10B $23.93 -0.93% 113% 95% Our Deep Research Projects IOTA $3.3B $1.17 7.42% 296% 278% BSV $3.1B $164 2.03% 0.60% -17% AVAX $2.6B $14.92 -2.26% 369% 351% AMP $2.2B $0.0527 28% 699% 681% ZIL $1.3B $0.1115 2.96% 33% 16% ZEN $933M $83.55 -0.70% 623% 605% INX $139k $0.0008 -13% -91% -108% All price s as of June 9, 2021 7:30 AM Exchanged Traded Products (ETPs) Premium Daily Year to Relative to Symbol Last Price to Nav Change Date BTC YTD GBTC -13% $27.60 -6.65% -21% -39% BITW 50% $59.50 -1.65% 13% -4.70% ETHE -2.68% $24.49 -8.45% 104% 86% QBTC -6.10% $62.82 1.72% 16% -1.48% QETH -6.83% $58.29 1.82% 170% 152% All price s as of June 9, 2021 3:30 AM Stocks Market Daily Year to Relative to Symbol Last Price Cap Change date BTC YTD PYPL $309B $262 0.37% 13% -5.03% SQ $98B $218 0.48% -1.43% -19% COIN $58B $227 -1.85% -40% -58% SBNY $14B $247 -0.81% 83% 65% MSTR $4.5B $458 -2.51% 7.71% -10% SI $2.7B $113 -1.93% 69% 51% RIOT $2.7B $27.38 -5.00% 66% 48% MARA $2.4B $23.17 -5.00% 110% 93% MOGO $518M $7.63 -0.39% 90% 72% All price s as of June 8, 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% $10,500 317% RESISTANCE II $39,000 14% $5,000 99% RESISTANCE I $34,606 1.28% $3,000 19% CURRENT PRICE $34,167 $2,516 SUPPORT I $30,145 -12% $2,000 -21% SUPPORT II $20,000 -41% $1,490 -41% SUPPORT III $14,000 -59% $1,380 -45% News QUICK BITS Web trac for cryptocurrency exchanges hit all- time high in May The Block Read the full story > Cryptocurrency web traffic hit a record high of 638.2 million visits in May, according to data compiled by The Block. The post Web traffic for cryptocurrency exchanges hit all-time high in May appeared first on The Block. Report: MicroStrategy Boosts Latest Note Oering To $500 Million, After Receiving $1.6 Billion In Orders Bitcoin Magazine Read the full story > MicroStrategy has raised its latest note offering, meant to fund additional bitcoin purchases, after receiving major interest. Mobile Banking App Revolut Unleashes Dogecoin Trading Decrypt.co Read the full story > The UK-based fintech company has added the cryptocurrency to its platform due to popular demand. The FBI likely exploited sloppy password storage to seize Colonial Pipeline bitcoin ransom CNBC Read the full story > The FBI's breach of a bitcoin wallet held by the cyber criminals who attacked Colonial Pipeline is probably about sloppy storage, crypto experts told CNBC. Bitcoin Keys Cannot be Hacked: Skeptics Question the Ocial Colonial Pipeline Bitcoin Seizure Story Bitcoin.com Read the full story > On June 7, the United States Justice Department and the Federal Bureau of Investigation (FBI) announced the “recovery” of 63.70 bitcoin from the funds Colonial Pipeline sent to the hackers. The official story has a number of inconsistencies and feder... MARKET DATA Ethereum DeFi Activity Has Slowed Down to 2020 Levels Decrypt.co Read the full story > But transaction fees are back under $5 for the first time since January 1. Coinbase Says Interest From Pension Funds and Hedge Funds Has Skyrocketed, Institutional Holdings Soar 170% Bitcoin.com Read the full story > The Nasdaq-listed cryptocurrency exchange Coinbase has revealed record growth in its institutional business. “This year, interest from pension funds and hedge funds has skyrocketed, supported by the roll-out of crypto-ETPs as well as an increased und... DOSE OF DEFI Amazon Job Listing Seeks Blockchain Lead – Internet Giant Looks to Create ‘Business Use Cases Across Defi’ Bitcoin.com Read the full story > Amazon is looking for a blockchain expert, according to a job posting published on the company’s employment portal. The firm wants someone who is “passionate about blockchain and decentralized networks” and someone who can build innovative “business ... Exploring constant function market maker designs The Block Read the full story > Quick Take Traditional order books are difficult to implement on-chain given the storage constraint of blockchains Constant product market maker is a common design among existing decentralized exchanges such as Uniswap Different asset-specific const... Amazon Job Listing Seeks Blockchain Lead – Internet Giant Looks to Create ‘Business Use Cases Across Defi’ BtcEthereum Read the full story > Amazon is looking for a blockchain expert, according to a job posting published on the company’s employment portal. The firm wants someone who is “passionate about blockchain and decentralized networks” and someone who can build innovative “business... CRYPTO INFRASTRUCTURE El Salvador Passes Historic Law Declaring Bitcoin Legal Tender TrustNodes Read the full story > The Congress of El Salvador has passed the Bitcoin Legal Tender bill with 62 out of 84 voting in favor, said Nayib Bukele, the president of El Salvador. The bill... CoinEx lists more USDC markets covering contracts and margin trading Crypto Ninjas Read the full story > In order to provide its users with a more reliable trading experience, popular bitcoin & crypto exchange platform CoinEx, recently listed more trading pairs for the USDC market, including: ADA/USDC, BNB/USDC, BTT/USDC, DOGE/USDC, DOT/ USDC, EOS/U... FUNDRAISING AND M&A BlockFi is raising $500 million while KPMG conducts audit of Bitcoin rewards payment snafu The Block Read the full story > BlockFi's latest fundraise will value the company at $4.75 billion. Meanwhile, KPMG is auditing a recent rewards payments mishap. The post BlockFi is raising $500 million while KPMG conducts audit of Bitcoin rewards payment snafu appeared first on Th... Berkshire Hathaway invests $500M in Brazilian digital bank BtcEthereum Read the full story > Though its billionaire owner has personally spoken out against digital assets many times, Berkshire Hathaway's investment may indicate the firm is more open to the idea. Brazilian digital bank Nubank has raised $500 million from Berkshire Hathaway, ... NFT Gaming Company Guild of Guardians Raises $2M USD In One Hour BlockTribune Read the full story > Guild of Guardians, an NFT-based mobile blockchain role- playing game (RPG) published by the Australian team of Immutable and developed by Stepico Games, recently completed the first wave of its Founder’s NFT Sale, a collection of soon-to-be-playable ... Flare Raises $11.3M in New Investment Round NewsBTC Read the full story > Flare, the blockchain network running on the Federated Byzantine Agreement (FBA) consensus mechanism, has raised $11.3M in its latest fundraising round. Contributions to Flare came from a slew of prominent names in crypto including Digital Currency G..
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