Solana
$SOL
144 Results
Major equity indices are rallying on the back of solid earnings, with both the $SPX and $QQQ up over 1%. Meanwhile, crypto markets are churning lower, which is understandable as we should not expect crypto to rally alongside equities during an earnings-driven market. Crypto remains an apparently undecided market ahead of next week's FOMC meeting and the Quarterly Refunding Announcement (QRA), evidenced by another day of ETF outflows and a...
It has been a challenging day for crypto prices, with $BTC giving back yesterday's gains to fall to $68.5k, $ETH declining to $3,500, and $SOL currently trading around $176. Most altcoins are also experiencing downturns. The lone standout among large cap crypto assets today is $TON, which is rallying on rumors of USDT launching on the TON Network. Equity indices also faced a drawdown earlier in the day, sliding after...
INFLOWS RESUME On Monday, market sentiments were rattled by a surprisingly strong manufacturing PMI figure, marking the first expansionary reading in 18 months. This led to a rise in rates, with risk assets across the board experiencing selloffs amid renewed inflation concerns and fears that the Federal Reserve might need to implement further measures to cool the economy. However, in our crypto comments video on Tuesday, we outlined a couple...
Flows Turn Positive and Coinbase Premium Returns, PayPal Enables Free International Transfers with PYUSD
The trading day began on a positive note, with rates decreasing and risk assets rallying following disinflationary pricing data from the latest ISM services PMI report. However, equity indices relinquished their gains and dipped into the red late in the trading session, influenced by comments from Fed President Neel Kashkari, which implied the Fed was concerned over persistently high inflation. Crypto rallied along with equities in the morning, and has...
Risk markets are experiencing a broad decline today, largely attributable to the surge in rates following the impressive PMI figures released yesterday. The US 10-year yield briefly reached 4.4%, marking its highest level since November. The crypto market was particularly affected in the early US hours today, with over $400 million in futures liquidations and $BTC moving from nearly $70k to just below $65k. Following suit, the wider crypto market...
Flows Remain Positive but Coinbase Premium Flips to a Discount, SOL Continues to Outperform Market
The weekend saw choppy price action, following the significant leverage washout in the perps market on Thursday evening. $BTC revisited the $65k level, marking a roughly 12% decrease from the previous week's high of $74k. Since then, its price has partially recovered, currently trading just above $67k. $ETH experienced a steeper decline and a less vigorous recovery, dropping from last week's high of $4100 to $3400, and is now trading...
El Salvador Moves 5,689 BTC Into Cold Storage, Avalanche Foundation Discloses Community Coin Investments
The crypto market suffered from a sharp decline early this morning, which saw $BTC (-4.48%) fall over 8% to the mid $65,000s before paring losses to $68k. $ETH (-5.07%) and altcoins saw similar price action, fueling over $727 million in liquidations over the last 24 hours. Funding rates have been getting frothy, and the drop helped to bring rates to more neutral levels across the board (see below). $SOL (+3.18%)...
BNB Chain Launches Rollup-as-a-Service Solution, Robinhood Reports Increased Crypto Trading Activity
A deluge of economic data was released this morning, including higher-than-expected PPI data, sparking a move higher in the DXY (+0.47%) and Treasury Rates. U.S. equities are showing modest declines, with the SPY decreasing 0.15% and the QQQ declining 0.07%. Crypto assets are faring worse, with $BTC (-1.60%) falling below $72k and $ETH (-2.79%) dropping to $3,900 despite yesterdayâs successful Dencun upgrade. Although the majors are showing losses, there are still...
Adding RON and IMX As a Different Flavor of ETH-beta and Gaming Exposure (Core Strategy Rebalance)
MARKET SHRUGS AT HOT CPI The latest Consumer Price Index (CPI) data indicated a hotter inflationary environment than forecasted for February. Despite the surprise in the numbers, market participants appeared largely unmoved, suggesting that the potential impact had already been factored into their calculations prior to the release. This resilience reflects a broader sentiment that a rates-driven selloff, in response to the CPI figures, is not a significant near-term risk....
$BTC surged in the overnight hours, nearing $74k, following a day of record inflows into spot ETF products. It's now trading around $72.5k. $ETH is showing relative weakness this morning, dipping just below $4k. This may be due to capital rotating into Layer 2 solutions and other Ethereum-related assets following the successful Denunc upgrade. Ethereum-adjacent assets such as $AAVE, $SYN, $MATIC, $MKR, and $ARB, are outperforming thus far today. $SOL...
The day commenced with a flurry of activity, beginning with an NFP figure that exceeded expectations, juxtaposed with an unemployment rate that also surpassed forecasts. This combination pushed short rates lower and led the fed funds futures market to anticipate a full rate cut by the June FOMC meeting. The DXY dropped to a low of 102.4 before making a comeback. In crypto, the day started with significant momentum as...