Magic Eden to Support Bitcoin NFTs, Sushi CEO Served SEC Subpoena

Name: FS Insight
Price range: $$$

Mar 22, 2023

BTC -1.86%

Market Update Equities and Crypto are mixed today, with the S&P rising 0.16% while $BTC gained 1.77% over the last day. All eyes are on the Fed, set to deliver their next interest rate decision at 2 pm this afternoon. This will be the first decision following instability among regional banks and several high-profile bank failures. The Fed is in a tough spot as it weighs risking further financial sector instability against tightening liquidity conditions to continue fighting 6% YoY CPI inflation. As of this morning, there is an 86% probability that the Fed will hike 25 bps and a 14% chance that the Fed does not hike at all. Expectations have repriced dramatically in the last few weeks, and many market analysts have stated that a pause could make sense given the tightening of liquidity conditions that will result from regional banks. The Fed also plans to release its updated dot plot, although rumors are swirling that this may be withheld given the uncertainty of the rate path going forward. Its last projections released after the December meeting showed a midpoint on the bank’s target range at about 5.25% by the end of this year, while investors expect an end-of-year midpoint of 4.625%.Top Solana NFT marketplace Magic Eden has added support for Bitcoin Ordinals. While there hav

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC -1.86% ETH -0.59% RENDER -2.62% SOL -2.83% STX -1.10% TAO 1.16% TIA 2.28% WIF -8.94% XMR -3.38% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -1.86% falling to $60k and ETH -0.59% approaching the low $2,300s. Aptos (APT -1.30% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 6.66% is also showing slight gains following...

AAVE 6.66% APT -1.30% BTC -1.86% ETH -0.59% TOTAL XRP -4.96%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -1.86% climbing back above $61,000 and SOL -2.83% moving above $145, while ETH -0.59% is lagging, trading around $2,400. Among today's outperformers is SUI 2.39% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...