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

Name: FS Insight
Price range: $$$

Oct 31, 2023

Author

Sean Farrell ^AC

BTC -3.72% ETH 2.65% SOL -5.95%

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

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