Coinbase Launches Perps, dYdX Transitions to Public Benefit Structure

Name: FS Insight
Price range: $$$

Oct 18, 2023

BTC -3.51% ETH 2.19% ETHBTC

Market Update U.S. equities are moving lower as interest rates have resumed their climb. The S&P and Nasdaq had fallen 0.8% at time of writing, while both short and longer-term rates increased. The US30Y bond saw the biggest jump in its yield, reaching 5.02%, just under YTD highs. The rise in rates coincided with the release of inflation figures in the U.K and E.U., along with China's GDP data. The spike in U.K. rates is particularly significant due to inflation remaining at 6.7% from the previous month, which is higher than the anticipated 6.6%. On the other hand, the inflation rate in the Eurozone dipped from 5.2% to 4.3%, meeting forecasts. China's economic growth decelerated, albeit not as much as predicted, registering 4.9% annualized in the third quarter. Additionally, it's a noteworthy day for corporate earnings, with Tesla and Netflix scheduled to release their reports after market close. $BTC had climbed back towards $29k overnight but has now retraced to $28.2k, falling 1.1% over the last day. $ETHBTC has found support at the 200-week moving average, bouncing 0.96%, while $ETH fell 0.37% in USD.Coinbase has launched perpetuals trading on its new "Advanced" platform for eligible retail customers outside the US. The new derivatives product will offer contracts in Bitcoin

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