Insider Insights: Delphi Digital Report Recap | Crypto Market Update 1.19
Intro | Delphi Digital Report | Market Update | Major Crypto News | Notable Events
Intro | Delphi Digital Report | Market Update | Major Crypto News | Notable Events
Hang in there crew. Everything is looking bleak now.
The broader markets are struggling, and altcoins are beginning to take some significant hits. Nevertheless, there are many reasons to stay attentive. Metrics continue to show strength, longer-term holders continue to accumulate, and expansive investments continue to flow into crypto (including Google today).
Does this spell danger to you? We must remember that price is fickle and affected by a large array of hands and conditions, but the backdrop is telling a separate story.
DAOs
WOW. Decentralized Autonomous Organizations (DAOs) are trending on Twitter. DAOs might be the NFTs of 2022.
With growing interest comes a lot of junk. Tread carefully.
Delphi Digital Crypto Insider’s Report
Delphi Digital, a crypto-based analytics firm, recently released the crypto-insiders chartbook report. The report is a broader look at crypto markets through charts. My newsletter today will cover a few of the insightful highlights of the information
Bitcoin historically performs poorly in January, according to a chart provided by Delphi Digital. The average performance for Bitcoin in January (2013–2021) sits at +6.7%.
Liquidity shortage in the perpetual and Bitcoin futures markets exacerbated the weakness. According to Delphi Digital, extreme price movements tend to occur in low liquidity situations
The Guppy Multiple Moving Averages (GMMA) chart tells us that the reversal may still be “a little bit away.” Compression in the short-term moving averages (green) tends to forecast exhaustion, and when those averages penetrate the longer-term averages, a potential trend reversal is imminent.
Bitcoin and Ethereum dominate institutional interest in crypto by a significant amount. Outside of those assets, Binance, Litecoin, Solana are leaders. DOT, ADA, TRON, Ripple round the top charts.
UST, the most prominent decentralized stablecoin by market cap, continues to gain ground on USDT alongside USDC issued by Circle. *LUNA is burned to mint UST.
Crypto Market Update
Bitcoin (BTC) continues in a side range near the 40–42k Support level. Amid current stock market wows, Bitcoin holds the support while the broader markets figure out the “new normal.” Bitcoin closed the day at 41.7k, down 1.64%.
Bitcoin Dominance (BTC.D) ends the day at 40.51%. BTC.D remains near yearly lows despite market conditions.
Notable Gainers
LOOKS $5.72 +16%
GLMR $10.19 +10%
GMX $59.28 +14%
DAO $4.36 +15%
Bitcoin Fear and Greed Index: 24 Extreme Fear
“Bitcoin” Google Trends: 24
Bitcoin Options Max Pain (Jan 20): 43K
How to use The Fear and Greed Index for investing
Major Crypto News
Block’s Cash App is integrating the Bitcoin Lightning Network. Users will soon have the capability to send/receive bitcoin for free on the app.
The Luna Foundation Guard (LFG) has announced its formation to support the peg stability of Terra’s stablecoins and ecosystem development. LFG will receive an initial gift allocation of 50 million LUNA($4billion)from Terraform Labs
Google and a16z lead $20M investment in Africa Web3 game publisher Carry1st.
Crypto.com (CRO) CEO acknowledges 400 customer accounts were hacked. All accounts were reimbursed according to CEO Kris Marszalek. Crypto.com suspended withdrawls for 14 hours following the hack. $15 million in ether was stolen.
Google Pay hires PayPal exec to head up crypto payment’s push. The conglomerate has taken recently taken a deep interest in crypto.
NOTABLE EVENTS
SundaeSwap (SUNDAE) will launch its main net tomorrow. Keep an eye on Cardano (ADA) thereafter.
Near Protocol (NEAR) is hosting a Town Hall tomorrow at 9 AM EST.
Sologenic (SOLO) to release the SOLO/XRP airdrop to holders at 8 pm (UTC) tomorrow.
Weekly Watchlist
Cardano (ADA)
Polygon (MATIC)
Harmony One (ONE)
Fantom (FTM)
Thanks for reading fam!
Gabi
Follow me on Twitter and Medium or subscribe to this FREE daily newsletter on Substack