BitDigest August 27 · Issue #730
- Pricing for digital currencies holding in new range and unchanged at $356 billion marketcap
- US legislators are seeking more insight into the Treasury Departments recent seizure of digital currencies
- Fidelity files to issue first digital currency fund
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Newly traded crypto miner Taal Distributed Information Technologies (OTCQX: TAALF) is this week’s top performer among posting a 7-day return of 15%.
- The premium to NAV for Grayscale’s Ethereum Trust (OTCQX: ETHE) appears to have settled around 80% following a 7-week decline and drop of approximately 90%.
- Grayscale’s Bitcoin Trust (OTCQX: GBTC) is holding its premium in the low 20’s.
- Marathon Patent Group (Nasdaq: MARA) reported it has signed a letter of intent to acquire a mining-as-a-service provider (see below), increased its hashrate to 186/Ph, and regained its compliance listing requirements with NASDAQ.
- Riot Blockchain (NASDAQ: RIOT) has purchased $11 million in new Bitmain miners scheduled for delivery starting early next year.
- All the news did not help MARA, who reported this week’s worst performance at -19%.
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 4.00% falling to $60k and ETH 2.67% approaching the low $2,300s. Aptos (APT -1.11% ) 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 6.40% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 4.00% climbing back above $61,000 and SOL 9.59% moving above $145, while ETH 2.67% is lagging, trading around $2,400. Among today's outperformers is SUI 7.47% , 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 1.88% and QQQ 2.20% 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 4.00% briefly dropping below $62k and ETH 2.67% below $2.5k. Among altcoins, SUI 7.47% is showing...
Articles Read 1/2
Enjoyed the read? Subscribe now for unlimited access!
Get invaluable analysis of the market and stocks. Cancel at any time.
Already have an account? Sign In 001f98-3e6418-572305-b2c2a1-604a05
Already have an account? Sign In 001f98-3e6418-572305-b2c2a1-604a05