Crypto Friendly House Speaker, MEXC Ventures TON Investment
Oct 4, 2023
Market Update If you find value in our crypto research or have suggestions for improvement (or ideally both), we would greatly appreciate your input. Please take a moment to complete our brief survey. A big thank you to those who have already participated. Your feedback is invaluable to us.Equity markets are rebounding today after ADP's nonfarm jobs report missed estimates, coming in at 89k vs. 150k expected. The Nasdaq is up 1% as yields turned lower, providing a lifeline to higher growth names sensitive to interest rates. We anticipate gaining a more comprehensive understanding of the job market in the coming days when nonfarm payrolls, unemployment figures, and average hourly earnings data are released on Friday. $BTC is unchanged trading at $27.4k, while $ETH is continuing to underperform, down 1.1% to $1.63k. $ETHBTC is approaching yearly lows of 0.059 after retracing gains seen from enthusiasm around the launch of ETH futures ETFs, which have seen disappointing volume. $XRP is outperforming among large caps, gaining 4.3% after announcing a key regulatory victory over the SEC. Judge Torres rejected the SEC's request for an interlocutory appeal in the Ripple case. Legal experts from Paradigm and Consensys have pointed out that this denial means Judge Torres' earlier decision