Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Polygon Launches New Token, Crypto Terrorist Financing Overblown

Oct 26, 2023
Market Update U.S stocks have continued to decline, with the S&P falling 0.6% and the Nasdaq down 1.2% at writing. This week, lackluster earnings and outlooks from the tech sector have negatively impacted the market, with firms like Alphabet and Facebook not performing well post-earnings announcements. On a brighter note, the U.S economy exceeded expectations in the third quarter, growing at an annualized rate of 4.9%. The dollar has turned higher, trading at 106.8, while long-term yields are still near recent highs. $BTC is seeing its first daily decline in a week, pulling back 2.4% to trade at $34k. $ETH is similarly pulling back 1.6% to $1.78k. Crypto investors are venturing further on the risk curve as meme coin $DOGE outperforms in the top 10 (+3.8%). $PEPE has outperformed among the top 100, rising 85.2% over the last week. One known heuristic for finding near-term tops is seeing which kinds of projects are outperforming, with $BTC known to lead initial impulses and the market rotating to meme coins toward the end of a move.The $POL token's smart contracts have been activated on the Ethereum mainnet, marking a step towards Polygon's transition to its 2.0 version. This move comes after a suggestion for a token upgrade from $MATIC to $POL, aiming to unify all Polygon-based n

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 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 -0.54% ETH -1.54% RENDER -3.76% SOL -3.43% STX -0.40% TAO -0.54% TIA 2.28% WIF -1.36% XMR -0.22% WULF -10.74%
Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.54% falling to $60k and ETH -1.54% approaching the low $2,300s. Aptos (APT -1.65% ) 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 -3.52% is also showing slight gains following...

AAVE -3.52% APT -1.65% BTC -0.54% ETH -1.54% TOTAL XRP 0.27%
Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.54% climbing back above $61,000 and SOL -3.43% moving above $145, while ETH -1.54% is lagging, trading around $2,400. Among today's outperformers is SUI -8.66% , 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...

BTC -0.54% ETH -1.54% SOL -3.43% SUI N/A% XRP 0.27% QQQ -4.62% SPY -5.07%
Jievani Weerasinghe NHRM1u4GD A Unsplash

MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY -5.07%  and QQQ -4.62%  have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC -0.54% briefly dropping below $62k and ETH -1.54% below $2.5k. Among altcoins, SUI -8.66% is showing...

AAVE -3.52% APT -1.65% BLAST 0.00% BTC -0.54% EIGEN -3.79% ETH -1.54% LDO -0.74% POL N/A% SUI N/A% TON -38.10% QQQ -4.62% SPY -5.07% XAU

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

Keep reading by starting your Free Trial today!

You are reading the last free article.

Already have an account? Sign In