Multicoin’s Hedge Fund Down 91.4%, Crypto Daily TV 6/3/2023

In Todays Headline TV CryptoDaily News:

https://www.youtube.com/watch?v=mC3H2q7XJ0Q

The crypto industry has ‘already started’ moving outside US.

The United States Securities and Exchange Commission’s regulation through “enforcement” is not a “healthy way” to regulate an industry, and may result in the U.S. being a less attractive location for crypto firms, suggests Ripple’s CEO.

Multicoin Capital’s hedge fund lost 91.4% last year.

Multicoin Capital’s hedge fund lost 91.4% in 2022, according to the firm’s annual investor letter. The letter attributed last year’s decline to a turbulent year for cryptocurrencies, as well as direct and indirect impact from the collapse of crypto exchange FTX.

LDO token sinks following SEC Notice rumors.

Lido’s LDO token tanked 10% following a rumor that the U.S. Securities and Exchange Commission served the largest Ethereum staking service with a Wells Notice. A Lido spokesperson declined to comment.

BTC/USD rose 0.3% in the last session.

The Bitcoin-Dollar pair gained 0.3% in the last session. According to the Williams indicator, we are in an oversold market. Support is at 220801 and resistance at 225381.

The Williams indicator points to an oversold market.

ETH/USD traded sideways in the last session.

The Ethereum-Dollar pair traded sideways in the last session. The RSI’s negative signal is in line with the overall technical analysis. Support is at 1537.7067 and resistance at 1591.5267.

The RSI is currently in negative territory.

XRP/USD dove 1.3% in the last session.

The Ripple-Dollar pair dove 1.3% in the last session. The Stochastic indicator’s positive signal contradicts our overall technical analysis. Support is at 0.3625 and resistance at 0.3854.

The Stochastic indicator is giving a positive signal.

LTC/USD rose 0.8% in the last session.

The Litecoin-Dollar pair rose 0.8% in the last session after gaining as much as 2.7% during the session. The Ultimate Oscillator is giving a negative signal. Support is at 85.9733 and resistance at 92.5133.

The Ultimate Oscillator is giving a negative signal.

Daily Economic Calendar:

US Factory Orders

The Factory Orders is a measure of the total orders of durable and non durable goods which can offer insight into inflation and growth in the manufacturing sector. The US Factory Orders will be released at 15:00 GMT, the US 3-Month Bill Auction at 16:30 GMT, the US 6-Month Bill Auction at 16:30 GMT.

US 3-Month Bill Auction

Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity.

US 6-Month Bill Auction

The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive.

EMU Retail Sales

The Retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of change of such sales. The Eurozone’s Retail Sales will be released at 10:00 GMT, Japan’s Labor Cash Earnings at 23:30 GMT, Japan’s JP Foreign Reserves at 23:50 GMT.

JP Labor Cash Earnings

The Labor Cash Earnings shows the average income, before taxes, per regular employee. It is an early indicator of consumer consumption.

JP JP Foreign Reserves

The Foreign Reserves are the total of a country’s gold holdings and convertible foreign currencies held by its central bank. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.