S&P 500 Index Analysis Wednesday, May 5

S&P 500 Index Analysis Wednesday, May 5

The S&P 500 is hovering below the 4,200 mark, and analysts at Credit Suisse believe that a relatively long recession awaits the index. Also, the most important level of support is in the range of 4118 to 4112 units.

Due to the formation of several downtrend patterns as well as the downtrend of the MACD indicator, we will probably face a downtrend and volatility.

On the other hand, the resistance range of 4188 to 4193 units has prevented the growth of this index. The first support level is in the range of 4157 to 4155 units and if the index penetrates below this level, the next target will be the support range of 4118 to 4112 units. The last important level of support is in the range of 4086 to 4079 units. This level is adjacent to the 38.2% Fibonacci retracement level of the March uptrend.

On the other hand, if the resistance level above 4193 units is stabilized, we will see the growth of the S&P 500 index up to the range of 4209 to 4212 units. If the index can reach above 4219 units, we can expect an upward trend towards the targets of 4225, 4229, 4259 and 4260 units.

Grayscale Investment Company bought $ 1 billion worth of Altcoin in 24 hours

Grayscale Investment Company bought $ 1 billion worth of Altcoin in 24 hours

Skill Investment Fund bought a significant amount of Altcoin worth $ 0.9 billion in 24 hours.

The company has added $ 45.8 billion in bitcoins and altcoins to its portfolio since April 21.

Bybt Analysis Service data show that GaryScale has bought more Altcoins to add to its assets

As of April 22, the company has purchased 519 Horizon Digital Currencies (ZEN), 967 Live Pier (LPT) and 29,990 China LINK.

Also, over the past seven days, Grayscale has bought 71,035 Stellar (XLM) and 2,965 Horizon (ZEN) along with 5 recently built Altcoins:

MANA: +278,206

LPT: +20,145

FIL: +3,525

LINK: +42,506

BAT: + 259,424

Increasing the organizational capital entering the Ripple market

Increasing the organizational capital entering the Ripple market

Over the past week, we've seen corporate investors turn their attention to Ripple (XRP), with assets under management (AUM) or their XRP investment products almost doubling.

According to the CoinShares Digital Asset Fund's weekly capital inflows, approximately $ 33 million in capital has flowed into XRP products this week, raising its managed assets (AUM) to $ 83 million.

The report cites the $ 233 million injection of corporate funds, citing this week as the uppermost period since early March (mid-March) for enterprise cryptographic products.

Bitcoin products, valued at about $ 50 billion, account for nearly 78% of the total assets under corporate management. Ether followed with $ 10.7 billion, or 16.8%, of cryptocurrencies.

In addition to the huge inflow of capital, corporate trading volume has also increased, reaching 59.8 billion dollars, up 59% since the beginning of the week.

With $ 50 billion in assets, Grayscale owns 77% of the cryptocurrencies under the management of organizations; CoinShares then accounted for about 9% of the total assets of the sector with $ 5.7 billion and 3iQ with $ 1.9 billion accounted for about 3%.

Demand for cryptographic corporate products appears to be growing in North America, with Canadian regulators launching three tradable Atrium funds last week.

Economic calendar Monday, April 19

Economic calendar  Monday, April 19

Economic calendar Tuesday, March 2

Economic calendar  Tuesday, March 2

An overview of the cryptocurrency market today Saturday, February 6

An overview of the cryptocurrency market today

The crypto market took a big step forward with the entry of Ether into the $ 1,700 channel and its all-time high of $ 1,773. Atrium futures trading in the Chicago Mercantile Exchange (CME) Group is scheduled to begin on February 9, which is why many analysts predict that the Altcoin will move to serious resistance on its way to It will reach $ 2000.

Ether is currently trading at $ 1,669, up 1.27% in 24-hour timeframe. Meanwhile, the market's top cryptocurrency, Bitcoin, traded up 5.24 percent over the past 24 hours at $ 39,268.

Gas costs in the Atrium network also reached the highest level in history at the same time as the price increase and caused some exchanges to suspend the ability to withdraw ETH and ERC-20.

On February 4, Yern Finance (YFI) was the victim of a massive attack, and a hacker removed $ 11 billion worth of StableCoin DAI from the DAI coffers. The team took swift action to reduce the damage. These include blocking the $ 1.7 million stolen budget and making a targeted proposal by the MakerDAO community to create a debt-for-collateral position (CDP).

Altcoins on the growth path

While Bitcoin traded in the range of $ 36,000 to $ 38,000, Altcoins accelerated and on Friday a large number of Altcoins saw a bullish decline in their price.

MakerDAO (MKR) grew another 45% to $ 3,099 before modifying to $ 2,810, while the Defy 0x (ZRX) Infrastructure Protocol rose 61% to $ 1.63.

Cardano (ADA) showed the most prominent performance among the larger altcoins with a 26.44% increase. Baines Coin (BNB) also reached its highest price at 64.87.

The total value of the cryptocurrency market today stands at $ 1.17 trillion, while Bitcoin dominates 60.1%.