Daily Digital Assets Markets Update - April 14, 2020



$BTC 24 Hour High $6,870 $BTC 24 Hour Low $6,668 $BTC +1%

Hope everyone had a great Easter!  Here’s a brief recap to kick off the shortened week:

COVID-19 infected cases surpassed 2m worldwide, however some countries are beginning to ease up on their lockdown measures as infection rates seem to be slowing down. News of 70 different vaccines being developed to date is encouraging. Digital asset markets:

  • This week’s total market cap started at $193B with a bit of volatility over the Easter holidays, with BTC’s traded range of 700, between 6,500-7,200 during Saturday and Sunday;

  • $BTC dominance at 64.2%; 

  • Halvening approximately one month away from today;

  • Fidelity’s Digital Asset’s new strategic partnership with US exchange ErisX aims to open up markets for their institutional clients, allowing them to purchase $BTC directly;

  • Repercussions on TON’s failed token listing as Blackmoon Exchange, previously one of the first exchanges to announce wallet support for TON (and was expecting to expand client base from TON), shut its exchange due to high compliance/regulation costs

Notable alt market news:

  • Over the past seven days, Chainlink ($LINK) has shown signs of decoupling from $BTC as it goes up +32% compared to $BTC’s -5.9% during the same period. Trading between 3 - 3.6 over the weekend and above moving average line of the Bollinger Bands throughout the weekend;

  • Growth was seen mainly fuelled by its announced partnerships with Google cloud and Oracle; $BNB regaining momentum after a 4 day pump over the weekend pushed $BNB back up from 13.60 -> 15 levels on the news of Binance launching option trading;

  • Seeing $USDT arb spread widening in Asia with volumes picking up over the holiday weekend;

  • Increased demand for $USDT pushing spot rate to 1.0020+. Desk expecting to see payment provider flow to increase compared to last week’s volume; and

  • Currently providing better bids for $BTC and $USDT

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