USDC Issuer Restructures, Crypto ETPS See Weekly Outflows
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CRYPTO MARKET UPDATE The crypto market has been consolidating over the past 12 hours following Bitcoin’s first daily close above its 200-day moving average since last August. BTC -5.35% is hovering just below $64K, while ETH -1.25% is holding above $2,600, and SOL -8.98% remains strong above $150. SEI -4.97% , one of the high-performance L1s that rallied significantly in Q1, is leading the market today, following a similar path to SUI -9.28% . Other notable outperformers...
The crypto market declined overnight, with BTC -5.35% dropping from $63k to $61k, SOL -8.98% from $150 to $145, and ETH -1.25% dipping below the $3k mark once again. The likely cause of the drawdown was upward pressure on the DXY N/A% and a lack of follow-through in flows. Among the few outperformers of the day were RUNE -8.14% , the native token of the cross-chain swapping protocol Thorchain, and Ethereum Classic (ETC -2.77% ), possibly driven by...
Risk assets are starting the week on a strong note after a week marked by dovish data and the US Treasury's accommodating refunding schedule. Despite today's bounce in interest rates, the DXY remains relatively flat. Major equity indexes are showing slight gains, with healthcare and technology stocks leading the way. In the crypto market, assets are generally on the rise, with the recent rally broadening to other areas of the...
On Tuesday, major equity indices saw a decline attributed to global economic concerns, particularly centered around China, and cautionary statements from Fitch regarding further potential downgrades in ratings for U.S. banks. Despite these apprehensions, July's U.S. retail sales data defied expectations, registering a 0.7% monthly increase, surpassing economists' expectations of 0.4%. This outcome underscored the enduring strength of the U.S. consumer. Interestingly, the day witnessed relatively stable rates, which could...
