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
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 3.05% falling to $60k and ETH 1.13% 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 4.47% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 3.05% climbing back above $61,000 and SOL 7.58% moving above $145, while ETH 1.13% is lagging, trading around $2,400. Among today's outperformers is SUI 7.79% , 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 3.05% briefly dropping below $62k and ETH 1.13% below $2.5k. Among altcoins, SUI 7.79% is showing...
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