BitDigest August 20 · Issue #725
- Crypto prices struggle to break upward resistance levels
- Hawaii is piloting a regulatory crypto sandbox
- The first Congressional Cryptocurrency Town Hall is being held later today
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- While Ebang International Holdings (NASDAQ: EBON) was this week’s top performer, gaining 24.9%, Grayscale Litecoin Trust (OTCQX: LTCN) gets honorable mention. LTCN began trading this week and gained 117% in yesterday’s session alone.
- Galaxy Digital Holdings (TSX: GLXY.TO), Grayscale Bitcoin Cash Trust (OTCQX: BCHG), and The Bitcoin Fund (TSX: QBTC-U.TO) all hit new 52-week highs
- Grayscale Ethereum Trust (OTCQX: ETHE) decline in premium to NAV continues; since July 11th, the premium has declined from 846% to 79%
- EBON announced plans to diversify from crypto miner production and will establish a digital currency exchange in Singapore.
- Both GLXY.TO and Hut 8 Mining (TSX: HUT.TO) reported weaker Q2 results.
- Grayscale Bitcoin Cash Trust (OTCQX: BCHG) also began trading this week.
- ETHE was the under-performer this week, dropping 13.9%.
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
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CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.61% climbing back above $61,000 and SOL -0.28% moving above $145, while ETH 2.49% is lagging, trading around $2,400. Among today's outperformers is SUI 7.96% , 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 0.40% and QQQ 0.80% 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 -0.61% briefly dropping below $62k and ETH 2.49% below $2.5k. Among altcoins, SUI 7.96% is showing...
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