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

SOL Continues to Shine, TIA Airdrop Could Catalyze On-Chain Activity

Oct 31, 2023
Author
Sean Farrell
Sean Farrell AC
Market Update Major equity indexes are recovering after giving up some of yesterday's gains. Short-term rates are on the rise, causing an uptick in the DXY index, while long-term rates have edged lower, potentially in response to yesterday's Treasury refunding preview that suggested Q4 debt issuance might be less than initially expected. These developments precede a pivotal macroeconomic day tomorrow featuring PMI, JOLTs data, and an FOMC decision. Additional information on the Treasury's refunding plans for the quarter, including duration mix and auction sizes, is also anticipated tomorrow. In the crypto arena, the markets continue to show resilience despite a morning pullback in altcoins driven by liquidations. $BTC is rebounding toward $34.5k after an earlier dip to $34k, and $ETH is contending to stay above the $1,800 mark. $SOL, leading the market, achieved a new YTD high of $37 overnight on strong spot market volumes.Celestia ($TIA) has officially launched its mainnet, becoming the first public modular data availability network. A key feature is data availability, which allows network nodes to download, store, and make transaction information accessible for verification. Unlike traditional Layer-1 blockchains such as Ethereum, where nodes download entire blocks to validate

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Andre Francois Mckenzie Vh7U Z75L3U Unsplash

CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH -1.19% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC -0.22% to Bitstamp, leaving about 90k BTC -0.22% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC -0.22% is trading around $66.5k,...

AVAX -0.52% BTC -0.22% ETH -1.19% ETHBTC ETHE N/A% GBTC -0.15% GOOGL +2.64% SOL 1.15% TSLA +4.96% V +0.26%
All-time highs next? Bitcoin holds $62K as the dollar index tumbles to 3-week lows

CRYPTO MARKET UPDATE POLITICAL DEVELOPMENTS CONTINUE TO DOMINATE INVESTOR SENTIMENT FOLLOWING PRESIDENT BIDEN'S WITHDRAWAL FROM THE PRESIDENTIAL RACE ON SUNDAY AFTERNOON. The initial market reaction saw a dip in crypto prices, with Bitcoin falling from $67.5k to $66k. However, the market rebounded after Biden endorsed Harris. Since the U.S. market opened on Monday, we have seen relatively choppy price action. BTC -0.22% is now trading slightly above $67k, while ETH -1.19% remains...

BITI BTC -0.22% ETH -1.19% OP -2.01% SOL 1.15% USDY -0.02%
Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY 0.97%  AND QQQ 1.40%  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -0.22% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -1.19% is trading at $3,450 ahead of potential S-1 approval after...

BONK 0.37% BTC -0.22% DXY N/A% ETH -1.19% JUP -8.65% QQQ +1.4% SOL 1.15% SPY +0.97% WIF 1.84%
Art Rachen YJpjLD3c9bU Unsplash

CRYPTO MARKET UPDATE THE CRYPTO MARKET MOVED HIGHER IN THE EARLY MORNING HOURS AND IS NOW CONSOLIDATING POST-US MARKET OPEN. BTC -0.22% once again challenged the $65k level and is currently sitting just below it, following the ninth consecutive day of net inflows for BTC -0.22% ETFs. ETH -1.19% is showing outsized strength, likely due to ETF issuers filing their final documents yesterday afternoon, with the ETF launch expected on Tuesday (more on...

BTC -0.22% ETH -1.19% ETHBTC JUP -8.65% SOL 1.15% USDT 0.01% WIF 1.84%
FS Insight

Sign in to read the report!

We have detected you are an active member!

or

Sign in with Google

Sign in with Twitter
Ray: f3cd3a-644ccd-f12aad-ef1b95-5de2bb