BitDigest September 25 · Issue #750
- Crypto prices starting end of week in green with total market value at $334.9 billion
- The US Congress has introduced two new bills supporting the crypto ecosystem
- Germany pledges to move EC crypto discussion forward
Note: My API to Coinmarketcap.com is not linking this morning, sorry.
Bitcoin is trading at 10,604, up 2.67%
Ether (ETH) is at $340 up 3.91%
XRP (XRP) is at $0.23 up 3.5%
Bitcoin Cash (BCH) at $211 up 0.28%
Today is the 750th edition of the newer public format of Bitdigest –it was published as a basic email for the first year – and as I read through the news below it is amazing to see how the blockchain and crypto story has evolved. I decided to look back to issue # 75 from November 6, 2017 to see where the story was back then. Here are some of those headlines:
- Bitcoin (BTC) traded up to $7,500 but pulled back to $7,354 with ether (ETH) holding flat at $300.
- The Central Bank of Uruguay announced plans to test the digitization of the Uruguayan peso.
- Russian officials reveled that the country has lost approximately 18 billion rubles ($310 million at that time) in tax revenues due to a lack of ICO regulations
- Societe Generale added to concerns about excessive bitcoin speculation, with the bank’s deputy head saying that bitcoin is a bubble
- Goldman Sachs CEO Lloyd Blankfein admitted he is not comfortable with anything new, but said money backed by consensus rather than government degree may be the next evolution of hard currency.
A lot has changed over the past few years and I can only image where the conversation will be in 2023. Thanks for all your support, comments and conversations. I am looking forward to the crypto future.
The Headlines
Market Data
- Employment growth in the sector increased 21%, down from 57% post the 2017 market frenzy;
- 39% of proof-of-work mining is powered by renewable energy
- Off-chain transactions continue to be dominated by fiat-crypto trading
- Stablecoins are becoming increasingly valuable
- The share of crypto-only companies that did not conduct any KYC checks dropped from 48% to 13% between 2018 and 2020
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 -2.79% falling to $60k and ETH -3.75% approaching the low $2,300s. Aptos (APT -1.82% ) 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 -3.77% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -2.79% climbing back above $61,000 and SOL -7.64% moving above $145, while ETH -3.75% is lagging, trading around $2,400. Among today's outperformers is SUI -11.72% , 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 0.22% and QQQ 0.19% 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 -2.79% briefly dropping below $62k and ETH -3.75% below $2.5k. Among altcoins, SUI -11.72% is showing...
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