Powell Completes His Pivot, MakerDAO Officially Proposes Redenomination of MKR Token
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MARKET UPDATE U.S. EQUITIES ARE DECLINING AS INVESTORS DERISK AHEAD OF TOMORROW’S SPEECH FROM FED CHAIR POWELL AT THE JACKSON HOLE ECONOMIC SYMPOSIUM, EXPECTED AT 10 AM EST. The SPY 1.08% has declined to $555, and the QQQ 1.05% to just below $475. Crypto rallied yesterday afternoon after it was reported that, if elected, Kamala Harris will support policies that ensure technologies like digital assets can continue to grow. BTC -0.57% rallied to...
CRYPTO MARKET UPDATE This morning's big news came from the BLS, which revised payrolls down by 818k for the 12 months ending in March. In response, the DXY turned negative as yields fell and market confidence in upcoming Fed cuts grew. Price action continues to suggest that the market views a soft landing as possible, with risk assets rallying in tandem with Treasuries. BTC -0.57% spiked to $60k following the U.S....
MARKET UPDATE RISK ASSETS ARE MOVING LOWER IN TUESDAY TRADING AHEAD OF A DENSE REST OF THE WEEK FOR MACROECONOMIC EVENTS. After rallying above $61k, BTC -0.57% has dropped below $59k, and ETH -0.42% has followed suit, moving below $2,600. SOL 4.10% is underperforming today after the SEC reportedly rejected two 19b-4 filings for Solana spot ETFs under the assumption that Solana should be designated as a security. Tron (TRX 0.31% ) is one of...
CRYPTO MARKET UPDATE BTC -0.57% continues to trade in a tight range, hovering just above $58K after retesting $60K over the weekend. Similarly, ETH -0.42% is moving sideways, currently just under $2,600, while SOL 4.10% is trading just over $142 after revisiting the mid-$130s late last week. Using perpetual futures funding rates as a gauge for market sentiment, it seems market participants remain cautious, with BTC's open interest-weighted funding rate flipping negative again...
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