In this week’s newsletter:
- Macro focus shifts from inflation to growth.
- Industry developments highlight continued growth and demand for crypto.
- Crypto partnerships are now the second most lucrative sponsorship category for the NBA, behind only the technology category.
Read our weekly round up below.
Market Updates by Robert Lynch | Head of Research and Strategy
Market Update: Risks in Ether; Macro Outlook Evolution; More on Crypto in 401k Plans
Robert Lynch – ALT 5 Sigma | June 3, 2022
The relative stasis in major crypto asset prices in the past three weeks has seen bitcoin and ether continue to consolidate at lower levels following their measurable declines in April and the first half of May. In some respects, the sideways price action could be viewed as constructive in the sense that both tokens have (thus far) managed to arrest their respective selloffs.
ALT 5 – Digital Assets Morning Call
Robert Lynch – ALT 5 Sigma | May 31-June 2, 2022
The Digital Assets Morning Call is a new segment by Robert Lynch, the Head of Research and Strategy at ALT 5 Sigma. This is a brief rundown of the latest developments impacting digital assets through a macro lens.
Crypto News From Around The World
Crypto Deals Help Fuel NBA Sponsorships to $1.6 billion in 2021-22 Season
CNBC | June 1, 2022
Cryptocurrency companies helped fuel the NBA’s sponsorship revenue to a record $1.6 billion in the 2021-22 season, according to estimates by IEG, a sports partnerships consultancy. That’s up 13% from the $1.4 billion in the 2020-21 season. In the 2018-19 season, the National Basketball Association raked in $1.2 billion in sponsorship money. Sponsorship agreements can include deals for arena-naming rights and for companies to put their names or logos on players’ jerseys.
This Week In Crypto: Market Continues to Trend Sideways
TipRanks | June 2, 2022
After a momentary spurt, which led to bitcoin (BTC) prices breaking a nine-week long downtrend, BTC has consolidated back to around $30,000. BTC jumped past the $32,000 resistance earlier this week before quickly retracing that move. Based on the ongoing technical patterns, experts believe that if similar momentum persists, BTC prices may slide to even lower levels between $14,000 and $21,000 over the next six months.
Bitcoin, Ethereum Technical Analysis: BTC Gains Prior to NFP Report, Following a Cross of Moving Averages
Bitcoin.com | June 3, 2022
Following a drop in price on Thursday, BTC was back in the green on Friday, as traders were preparing for the release of the non-farm payrolls report. After adding 428,000 jobs in April, markets are expecting 325,000 jobs to be added to the U.S. economy in May. The speculation on what this number will mean for the market has helped BTC today, with prices rising to an intraday peak of $30,633.03.
Most big Cryptocurrencies Climb on Cardano, Dogecoin Increases
MarketWatch | June 2, 2022
Most of the largest cryptocurrencies were up during morning trading on Thursday, with Cardano seeing the biggest move, rising 2.94% to 56 cents.
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