Billionaires Opine on Bitcoin, Bitcoin NFTs Pick Up Steam
Markets opened lower before rebounding on news of accelerated hiring in January (517k jobs added) and the lowest unemployment rate in 53 years at 3.4%. Despite strong job gains, wage growth continued to soften last month (+4.4% YoY). As reflected by markets, these conflicting data points could accommodate a soft landing scenario. ^SPX 1.28% (-0.1%) and QQQ 1.49% (-0.1%) are trading relatively flat at time of writing, while DXY and US20Y are up by 1.0% and 2.7%, respectively. Digital asset markets have also cooled off since the Fed’s 25bps hike on Wednesday, with BTC and ETH trading at $23.5k (-1.3%) and $1.66k (-0.9%), respectively. Over the last week, RNDR (+92.9%) has been the top gainer in the Top 100. RNDR introduced deflationary tokenomics last week and benefits from AI/Mixed Reality narratives that have been trending of late.
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MARKET UPDATE CRYPTO MARKETS EXTENDED LAST WEEK’S RALLY OVER THE WEEKEND, WITH BTC 2.01% BRIEFLY RISING ABOVE $65K AND ETH 1.74% ABOVE $2.8K. They have trimmed some of their gains, with Bitcoin trading at $63.3k and Ethereum slightly above $2.7k. AI-related tokens have been outperforming ahead of Nvidia earnings set for this Wednesday. FET 1.95% , RNDR, and AKT -3.44% have gained 69%, 38%, and 25%, respectively over the last seven days. U.S. equities are...
CRYPTO MARKET UPDATE Tuesday is off to a strong start for the bulls, with robust bounces across the crypto market. Among the majors, SOL 3.71% is leading the way, approaching its 200-day moving average around $146, while ETH 1.74% has climbed back above $2,500 and BTC 2.01% has surpassed the $55k mark. Notable outperformers within the ETH 1.74% and SOL 3.71% ecosystems include AAVE 2.04% , which benefitted fundamentally from massive liquidations yesterday, with over $200 million...
CRYPTO MARKET UPDATE AFTER ANOTHER DAY OF SIZEABLE OUTFLOWS FROM ETHE 7.24% , THE GRAYSCALE-ISSUED ETF NOW RETAINS JUST 85% OF THE AUM IT BEGAN WITH ON TUESDAY. However, crypto has rallied strongly since the US market closed yesterday, with BTC 2.01% briefly moving above the $68k level, ETH 1.74% rebounding sharply to $3,250, and SOL 3.71% revisiting $184. Among larger-cap tokens, SOL beta names including RNDR and JUP have outperformed over the past 24...
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