The Daily Close

By Scott Melker — Mar 2, 2023

The most interesting articles over the last 24 hours (curated by AI).

Senators press crypto exchange Binance on potentially illegal business practices after FTX collapse

Senators are pressing Binance, the world's largest cryptocurrency exchange, for detailed information on its finances and compliance practices.

SEC Chair Gensler Says Crypto Exchanges May Not Be 'Qualified Custodians'

"Just because a crypto trading platform claims to be a qualified custodian doesn’t mean that it is," the SEC chair said.

Crypto Has More Appetite To Sue SEC Than Ever Before: Kraken Exec

Coinbase and Kraken are confident tokens listed on their platforms are not securities, regulator leaders from the exchanges said.

Dallas Fed: Housing market is only passing through a modest correction, but ‘tighter-than-expected’ monetary policy could trigger a ‘more-severe’ price drop

We're in a modest housing correction, however, "tighter-than-expected monetary policy may trigger a more-severe price correction" says the Dallas Fed

Metaverse Competition Issues Need Addressing, EU Antitrust Chief Says

The European Commission is set to produce a strategy for online virtual worlds in May.

Binance a 'Hotbed of Illegal Financial Activity,' Senators Claim: WSJ

A bipartisan grouping of three Senators has pressed the crypto exchange on allegations it sought to limit compliance.

US SEC Plans to Keep Growing Crypto Unit as Enforcement Ramps Up

The securities regulator has almost filled the 20 slots previously added to its crypto squad and is looking to increase that number even further, a spokesperson said.

Treasury Department developing tech for digital dollar as Congress debates crypto rules

The Biden administration is working to develop technology to help create a central bank digital currency (CBDC) as the policy debate as to how to do so continues, a Treasury official said Wednesday. Nellie Liang, Treasury under secretary for domestic finance, gave the update as part of a speech about how the administration is advancing…

A year later, the Fed still has a long way to go in the fight against inflation

So after a year of inflation fighting, how are things going? In short, OK.

Macro Futures

Macro broadly is having an ever-increasing impact on crypto prices. Monitor the most important traditional assets and compare their performance to Bitcoin and Ethereum.

Futures Contract

24hr Price Change

Price

Bitcoin (/BTC)

+0.02%

$23,590.00

Ethereum (/ETH)

+0.15%

$1,656.00

Nasdaq (/NQ)

-0.23%

$12,034.25

S&P 500 (/ES)

-0.16%

$3,978.50

30 Year US Treasury (/ZB)

-0.03%

$123.03

10 Year US Treasury (/ZN)

+0.01%

$110.52

Crude Oil (/CL)

-0.28%

$77.94

Gold (/GC)

+0.25%

$1,845.10

Top 20 Largest — 24hr Price Returns

Track how the largest coins performed over the last 24 hours.

Top 20 Largest — Tweet Volume vs. Trading Volume

Monitor which of the largest coins experienced the most unusual social or trading activity over the last 24 hours.

Daily Outliers

Which coins are outliers today that should be further researched for opportunities.

Top and Bottom 5 by Exchange Netflows

Coins experiencing net inflows into exchanges could suggest increased selling pressure. Those with net outflows could suggest investors are looking to hold and not sell.

Top 10 by Relative Active Addresses

These coins have the most active addresses on the Ethereum, Polygon, and Avalanche blockchains in the last 24 hours compared to each coin's own average over the last 30 days.

Top 10 by Whale Accumulation

Whales are accumulating these coins the most over the past 24 hours, as a percentage change in total balance compared to the previous day's total whale balance. A whale is an address that has at least 0.1% of the coin's supply on-chain.