BitDigest July 2 · Issue #692
- Crypto pricing flat, unchanged over 24-hours
- US Appeals Court finds that blockchain’s decentralized and transparent structure does not require a warrant if a search is necessary
- Russian court rules that bitcoin’s lack of legal status means that theft of BTC is not a crime
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Buyers for Chinese miner Ebang (NASDAQ: EBON) are lacking as it share price has declined 24% since its IPO last Friday
- Volume for the Grayscale Ethereum Trust (OTCX: ETHE) increased 32% over the past 7-days and it’s premium to NAV increased 18% after the ETH traded trust declined in price last week
The Headlines
Market Data
Exchange, Custody and Product News
Thoughts on the Ecosystem
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.43% falling to $60k and ETH -0.15% approaching the low $2,300s. Aptos (APT N/A% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -0.42% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.43% climbing back above $61,000 and SOL 0.04% moving above $145, while ETH -0.15% is lagging, trading around $2,400. Among today's outperformers is SUI -0.72% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY 2.07% and QQQ 2.31% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC -0.43% briefly dropping below $62k and ETH -0.15% below $2.5k. Among altcoins, SUI -0.72% is showing...
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