Grayscale Files for Spinoff Mini-Trust, TradFi Institutions Complete Tokenization Pilot on Canton Network
The highly anticipated February CPI report was released this morning, showing slightly higher than expected readings. Core CPI came in at 3.8% YoY vs. 3.7% expected and 0.4% MoM vs. 0.3% expected. Over 60% of the total monthly increase can be attributed to shelter and energy prices. Investors were prepared for worse, as the odds of a June rate cut increased slightly following the data release, helping to spur a bounce back in equity indices, with the SPY and QQQ gaining approximately 1%. Crypto markets are declining today, with total market capitalization falling by 3.19%. $BTC has declined 3.36% to $69.6k and $ETH has decreased 4.03% to $3.9k. Despite the declines, there are still some altcoins outperforming including $INJ, $AVAX, and $TIA, which have gained 12.86%, 10.06%, and 4.14%, respectively. MapleStory, a large web2 gaming studio, announced yesterday their plans to launch an Avalanche Subnet to bring their creations to the Web3 world, helping $AVAX reach $53, its highest level since May 2022.
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U.S. equity indices are showing modest gains today following weekly jobless claims coming in higher than expected, showing 231k versus 212k estimated, putting downward pressure on the DXY 0.00% (-0.21%) and rates. The $SPY has gained 0.36%, approaching the $520 mark, while the $QQQ has risen 0.14% to the $440. Crypto assets are showing larger gains, with BTC 3.24% (+1.57%) rising above $62k and ETH 1.72% (+1.05%) surpassing $3,000. The Render Networkâs mobile app, OctaneX, was featured in Appleâs keynote presentation earlier...
The crypto market declined overnight, with BTC 3.24% dropping from $63k to $61k, SOL 7.45% from $150 to $145, and ETH 1.72% dipping below the $3k mark once again. The likely cause of the drawdown was upward pressure on the DXY 0.00% and a lack of follow-through in flows. Among the few outperformers of the day were RUNE 6.36% , the native token of the cross-chain swapping protocol Thorchain, and Ethereum Classic (ETC 1.46% ), possibly driven by...
Rates are broadly lower again on Tuesday, with the US 10Y nearing 4.4%, down from 4.7% just under a week ago. Risk assets are on the rise, with both the $SPX and $QQQ showing gains today. Crypto performance is mixed so far, with BTC 3.24% retesting the $63k level after US market open, following a rally to just over $64k in the early morning hours. Meanwhile, ETH 1.72% is still hovering just...
U.S. equities are extending Fridayâs rally, with the $SPY and $QQQ both gaining about 0.65%. This weekâs macroeconomic data includes consumer credit tomorrow, wholesale inventories on Wednesday, and consumer sentiment on Friday. There are Fed speakers set for every day this week and itâll be interesting to monitor if they take a dovish or hawkish tone after Powellâs dovish speech last week. Crypto markets gained over the weekend, with BTC 3.24% ...
