Crypto Markets See Mixed Trading as Axie Corks Smooth Love Potion

AssangeDAO Raises $38M

The latest moves in crypto markets, in context February 8, 2022 Supported by     If you were forwarded this newsletter and would like to receive it, sign up here.  Good morning, and welcome to First Mover. Here's what's happening this morning: Market Moves: Crypto markets appeared to pause from their recent rally, with bitcoin holding just over $43,500.    Also: SHIB wants a Valentine, Axie Infinity moves to reduce inflation of its smooth love potion (SLP) tokens, and AssangeDAO raises $38M for WikiLeaks founder's legal defense.  And check out the CoinDesk TV show "First Mover," hosted by Christine Lee, Emily Parker and Lawrence Lewitinn at 9:00 a.m. U.S. Eastern time. Today's show will feature guests: Anthony Di lorio, founder and CEO of Jaxx, co-founder Ethereum Emin Gun Sirer, founder and CEO, Ava Labs Iddris Sandu, founder and technologist, Spatial LABS Today's newsletter was edited by Bradley Keoun and produced by Parikshit Mishra.  Market Moves By Shaurya Malwa  Crypto markets saw mixed trading on Tuesday with relatively small gains and losses among the largest assets by market capitalization.   Leading the charts in the past 24 hours were payment tokens XRP and Shiba Inu's SHIB, with advances of as much as 22%. But by press time, SHIB appeared to be weakening, down over the past three hours.    Bitcoin (BTC) and ether (ETH), the two largest cryptocurrencies, added about 3% in the past 24 hours even as tokens of layer 1, or base, blockchains Solana (SOL) and Polkadot (DOT) fell 2.5%, data on analytics tool CoinGecko showed.   Among other majors in the same period, Cardano's ADA jumped 2% while binance coin (BNB) was little changed. AVAX tokens surged 10% on the back of strong fundamental activity on Avalanche, which processed over 1 million transactions on Monday across various tools, services and products built on the network. SHIB wants a Valentine SHIB broke and held above previous resistance levels. (TradingView) SHIB extended Monday's surge. The token has gained 43% from Sunday's low of $0.000022. Tokens exchanged hands at $0.000035 in early Asian hours after breaking a resistance level at $0.000027 earlier this week. The tokens saw a brief sell-off as traders took profits at the $0.000035 level.   The jump came as Shiba Inu's official Twitter account teased a possible partnership with crypto exchange Coinbase. "Hey coinbase send us a DM. Valentine's Day is approaching and we have a pending match," the tweet read, causing prices to surge in early Asian hours.   CoinDesk also was covering play-to-earn videogame Axie Infinity's efforts to reduce the daily supply of the smooth love potion (SLP) rewards tokens – implemented after the price fell 93%.    And a decentralized autonomous organization (DAO) that is raising money to support Julian Assange's defense has collected a record-breaking 12,350 ether ($38 million), according to fundraising platform Juicebox.   AssangeDAO started accepting donations on Feb. 3 and has already surpassed ConstitutionDAO on Juicebox, which tried to buy the U.S. Constitution at an auction. Full story here: Shiba Inu's SHIB Extends Surge, Bitcoin Breaks Key VWAP Resistance The future of finance is inherently digital.    As digital assets, technology, and finance continue to merge, we believe the resulting digital economy offers a more equitable, accessible, and inclusive financial future.   Grayscale® Future of Finance (symbol: GFOF) is an ETF that seeks to invest in the companies and technologies that are integral in evolving the financial system.   Backed by an index that combines the expertise of Grayscale, a leader in the digital asset ecosystem, and Bloomberg, a trusted authority in finance, GFOF seeks to define the "future of finance" in one thematic fund.    What better way to plan for tomorrow than by investing in the future?    Search GFOF in your brokerage account to start investing. Learn more here.   Investing involves risks and the possible loss of principal. GFOF is distributed by Foreside Fund Services, LLC and Grayscale Advisors, LLC is the adviser. For a copy of the latest prospectus, head to the GFOF landing page. Risks: Future of Finance companies rely heavily on the success of the digital currency industry, and other developing technologies that seek to disrupt or displace established financial institutions. Crypto Prices Bitcoin (BTC) See the latest price here Ether (ETH)  See the latest price here The following are the biggest movers in the CoinDesk 20 digital assets over the past 24 hours: Biggest Gainers: Asset Ticker Returns Sector XRP XRP +10.3% Currency Polygon MATIC +9.9% Smart Contract Platform Filecoin FIL +9.0% Computing Biggest Losers:  Asset Ticker Returns Sector Cosmos ATOM −4.2% Smart Contract Platform Polkadot DOT −3.1% Smart Contract Platform Solana SOL −2.7% Smart Contract Platform Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges.  It's never been easier to earn interest on Bitcoin and Tether with BitMEX EARN. Enjoy up to 10% APR on Tether and 4% on Bitcoin, fully backed by the BitMEX Insurance Fund.    With new products, reliable security, and responsive customer service, there's never been a better time to join BitMEX. Start earning interest today by subscribing to EARN here.    BitMEX products and services are not available to US Persons and in other specified jurisdictions. Latest Headlines Axie Infinity Reduces SLP Emissions to Prevent 'Collapse' AssangeDAO Raises $38M to Aid WikiLeaks Founder's Court Battle XRP Climbs to $0.91 Amid Developments in Ripple v. SEC Case DeFi's Aave Launches Web 3 Social Media Platform 'Lens' Kazakhstan President Calls for Tax Increase on Crypto Mining: Report EU Weighs Potential Metaverse Regulation: Report What Can You Actually Do In the Metaverse in 2022? Technician's Take By Shaurya Malwa Bitcoin holds above VWAP Bitcoin broke above resistance, buoyed by several catalysts. (TradingView) Bitcoin broke key resistance levels related to the Volume Weighted Average Price (VWAP), a tool that calculates the average price a security has traded at throughout the day using both price and volume.   "The 2022 yearly VWAP was acting as a key resistance level," Delphi Digital wrote analysts in a note. "With Bitcoin now trading around $42,500, the VWAP was breached convincingly on Friday after several failed breakout attempts."   VWAP is used by traders to bid, or sell, assets based on prices that provided the most volume to ensure better entries and lower slippage. In recent months, bitcoin tended to fall when it approached the VWAP levels, but has held above that level since Friday.   "The Bitcoin chart continues to paint a bullish picture," said Alex Kuptsikevich, an analyst at FxPro, in an email to CoinDesk. "With the price at $45,000 on Tuesday morning, BTC is trading above the 50-day moving average just above the mid-January pivot area."   "At the same time, the RSI on the daily charts has not yet entered the overbought area, leaving room for further growth," Kuptsikevich added.   RSI, short for relative strength index, is an indicator that measures the magnitude of price changes over a certain time period. RSI readings above 70 are considered overbought, and those below 30 indicate an asset may be oversold. The OGs of NFTs get animated with the biggest stars from around the world in this entertaining new series from CoinDesk TV. Tune in Tuesdays in February at 4 p.m. ET. ICYMI In case you missed it, here are the most recent episodes of "First Mover" on CoinDesk TV: Bitcoin Holds Above $42K as Major Cryptos Rebound, Privacy-Focused Web 3 Application Builder Aleo Raised $200M at $1.45B Valuation "First Mover" hosts speak to Voyager Digital Co-founder & CEO Steve Ehrlich for an in-depth analysis on the crypto markets as major cryptocurrencies bounce back. Privacy-focused Web 3 application builder Aleo raised $200 million in a Series B funding round at a valuation of about $1.45 billion dollars. Aleo CEO & CTO Howard Wu shares his plan for expansion. Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.  First Mover A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2021 CoinDesk, All rights reserved.  250 Park Avenue South New York, NY 10003, USA Manage your newsletter subscriptions  |  Unsubscribe from all CoinDesk email