BitDigest September 10 · Issue #739
- Dull days of crypto summer appear to be over – market volatility returning
- Houses passes legislation supporting blockchain research
- Mastercard introduces platform for central banks to evaluate digital currency use-cases and roll-out strategies
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Chinese mining equipment supplier Ebang International (NASDAQ: EBON) hit a new 52-week high this week ($8.60) propelling it to the top performing asset spot, up 22.3% this week.
- Canaan (NASDAQ: CAN), a crypto rig manufacturer, announced a $10 million 12-month share repurchase program
- While the Premium to Nav of the Grayscale Bitcoin Trust was basically flat, all of the other Grayscale offerings showed significant increases led by the Ethereum Trust and Ethereum Classic Trust whose Premiums both jumped over 70%.
- Marathon Patent Group (NASDAQ: MARA) was the worst performer dropping 17.2% as analysts are beginning to question its ever changing micro-cap strategy.
The Headlines
House Approves Bills Supporting Study of Blockchain Technology
BaFin to License Bitcoin ATM Operators
Venezuela Blocks Coinbase and MercaDolar
IRS Signs Blockchain Analysis Contract
Mastercard Launches CBDC Testing Platform
Foundry Offering Equipment Financing to Bitmain Customers
Exchange, Custody and Product News
Paxful Adds Tether
Huobi Creating Savings Option
Kraken Returning to Japan
Revolut Expanding to Japan
USDC Now Trading on Algorand
Binance Uganda Delisting BNB
Thoughts on the Ecosystem
Portnoy Promises Return to Crypto
Reports you may have missed
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC-3.27% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC-3.27% continued its upward trend over the weekend, now trading just below $66k. ETH-2.71% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-5.23% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...
Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC-3.27% briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH-2.71% followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL-5.23% has shown remarkable resilience amid the turmoil, now...
