NFT Marketplace Airdrops BLUR Token, CZ Distances Binance From Paxos Debacle
Equities are relatively flat after recovering from early losses yesterday afternoon, with the S&P 500 and Nasdaq down 0.32% and 0.06%, respectively. This morning’s retail sales report showed January sales grew 3%, significantly higher than the estimated 1.9%. Economic data has shown a resilient economy in the face of the Fed’s rate hikes. Markets expect the Fed to follow up with another 25 bp rate hike and then pause to evaluate impacts. Given one of the tightest labor markets in 50 years and the economic data showing continuing growth, it remains to be seen whether the Fed thinks this will be enough to bring inflation down from 6.5% to its long-term goal of 2%. After underperforming equities following a slew of negative regulatory headlines, BTC has found footing around the $22.8k level and gained 2.6% over the last day. ETH is underperforming, gaining only 1.4%, while the global crypto market cap is up 2.5%, showing an increased appetite for alts.
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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 1.26% falling to $60k and ETH -1.08% approaching the low $2,300s. Aptos (APT N/A% ) 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 -1.42% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.26% climbing back above $61,000 and SOL 1.25% moving above $145, while ETH -1.08% is lagging, trading around $2,400. Among today's outperformers is SUI 2.89% , 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 -0.53% and QQQ 1.49% 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 1.26% briefly dropping below $62k and ETH -1.08% below $2.5k. Among altcoins, SUI 2.89% is showing...
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