Citadel, Susquehanna, and Soros buy Silvergate, and Bitcoin's Average Block Size hits All-Time-High
Crypto rallied following today’s CPI report that showed that inflation grew at a 6.4% annual rate, slightly higher than expected. BTC and ETH rose 1.53% and 2.93%, respectively, while SPX and NDQ were down 0.14% and up 0.23%. Interestingly, more traditional finance giants have acquired shares of Silvergate (SI). Citadel Securities disclosed a 5.5% stake in the crypto-friendly bank, Susquehanna Advisors Group disclosed a 7.5% stake, and George Soros’s fund also announced a smaller stake. Standouts today in the crypto market include alternative layer 1, FTM (up 14.65%), and liquid staking provider, LDO (up 7.93%).
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 4.38% falling to $60k and ETH 7.35% approaching the low $2,300s. Aptos (APT -0.17% ) 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 7.81% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 4.38% climbing back above $61,000 and SOL 8.16% moving above $145, while ETH 7.35% is lagging, trading around $2,400. Among today's outperformers is SUI 7.05% , 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 1.11% and QQQ 1.34% 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 4.38% briefly dropping below $62k and ETH 7.35% below $2.5k. Among altcoins, SUI 7.05% is showing...
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