FalconX

Good Morning! It's Thursday, May 18th 2023

BTC pushed higher yesterday along with equities, as optimism for a debt-ceiling solution boosted risk sentiment. BTC moved back above $27,000 and is now hovering around $27,300. Ripple announced its CBDC platform, which will enable governments, banks and other financial institutions the ability to issue their own digital currencies. Between this news, the positive news coming from the SEC related case, and the acquisition of Metaco, XRP has gained over 10% in the last week. The desk has seen increased two-way flow in XRP on the back of all the headlines. On the flip side, the SEC labeled FIL as a security in a letter to Grayscale. FIL traded down slightly on the news, but is still positive for the week.

FalconX Desk Ratios:
Overall: 1.2:1
BTC: 1.1:1
ETH: 2.5:1
SOL: 2.3:1
Majors: 1.5:1
Alts: 0.9:1
BTC 1.7x ETH volume
Majors 3.3x Alt volume

24 Hour Price Movements:
BTC: +2.6%
ETH: +1.8%
ADA: +3.1%
AVAX: +1.7%
BNB: +1.4%
DOGE: +2.1%
LTC: +0.9
MATIC: +2.3%
SOL: +1.2%

Macro:
S&P 500: 4176 / +0.12%
Nasdaq: 13669 / +0.19%
US 10Y Yield: 3.60% / +3 bps
VIX: 16.85 / +0.36%
DXY: 103.14 / +0.27%

The views and opinions expressed herein are those of the author(s) and do not necessarily reflect the views of FalconX or any of its affiliates and summarizes information and articles with respect to cryptocurrencies or related topics. This material is for informational purposes only and is only intended for sophisticated investors, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX or any of its affiliates.

Eric Lochner
Trader

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