BitDigest September 3 · Issue #735
- Crypto prices slide yesterday in late morning trading
- Senate Banking Committee wants clearer regulations for national banks to use digital currencies and blockchain for payments
- Congressional leaders ask Trump Administration to use blockchain technology to support COVID-19 assistance programs
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Hive Blockchain Technologies (TSX: HIVE.V) is the top performing stock this week posting a 9.4% return.
- Canaan (NASDAQ: CAN) reported Q2 revenue of $25 million, down 26% year-over-year.
- Hut 8 Mining Corp (TSX: HUT) announced that it has formally taken over site management at its Drumheller, AB operation from the Bitfury Group.
- The premium to NAV for the Grayscale Ethereum Trust (OTCQX: ETHE) has continued to decline and is now just under 33%, falling 59% compared to last week.
- Although the Grayscale Litecoin Trust (OTCQX: LTCN) posted the same price as last week, its net asset value declined slightly boosting its premium to NAV to 674%
- The Grayscale Bitcoin Cash Trust (OTCQX: BCHG) is the worst performer falling 26%.
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 -0.83% falling to $60k and ETH 1.44% approaching the low $2,300s. Aptos (APT -0.88% ) 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 6.28% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.83% climbing back above $61,000 and SOL -1.36% moving above $145, while ETH 1.44% is lagging, trading around $2,400. Among today's outperformers is SUI 5.56% , 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 -0.83% briefly dropping below $62k and ETH 1.44% below $2.5k. Among altcoins, SUI 5.56% is showing...
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