BitDigest September 14 · Issue #741
- Crypto prices show 24-hour decline but overall market cap up 2.3% since Friday
- European leaders call for regulations around stablecoins
- China explains digital yuan should be considered like cash
Growing focus on Ethereum
Digital exchanges are looking to grow by supporting Ethereum based projects. In recent days both Binance and Kraken have made statements showing their desire to help this ecosystem grow. Binance CEO Changpeng Zhao tweeted he would like to see more DeFi projects moving over to Binance Smart Chain and Kraken has posted a new position to hire an “external advocate” bridging mainstream investors and the Ethereum community.
China’s Public Blockchain Companies Blockchain Not Living Up to Hype
The Blockchain 50 Index, an index of the top 50 public companies affiliated with blockchain technology that trade on China’s Shenzhen Stock Exchange, are not operating as expected with many of the companies not even discussing their blockchain efforts. Out of a larger group of 262 public companies self-categorized as “blockchain companies,” only 23 mentioned live blockchain use cases.
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 4.79% falling to $60k and ETH 5.10% approaching the low $2,300s. Aptos (APT 4.86% ) 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 4.91% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 4.79% climbing back above $61,000 and SOL 8.54% moving above $145, while ETH 5.10% is lagging, trading around $2,400. Among today's outperformers is SUI 9.43% , 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 1.66% 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 4.79% briefly dropping below $62k and ETH 5.10% below $2.5k. Among altcoins, SUI 9.43% is showing...
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