Coinbase Announces an L2, Binance Australia Traders' Positions Closed
Traditional indices have continued their fall this week, with the ^SPX 1.09% (-0.33%) falling below $3,980 and the NDQ (-0.25%) trading just above $12,000. Initial jobless claims came in slightly lower than expected as the market continues to look for signs that the Fedâs hiking cycle is affecting the labor market. Tomorrow at 8:30 AM, the latest PCE data will be released, giving investors more insight into inflation trends. Crypto markets are mixed, with BTC falling 1.61% while ETH is up 0.11%. The divergence may be attributed to Coinbase announcing its Ethereum layer-2 solution called Base (more below). FXS (+3.34%) is outperforming today after a vote to fully collateralize its stablecoin passed yesterday. The vote to change the collateralization ratio comes as stablecoins have seen increased regulatory scrutiny following the Terra Luna collapse. The change will remove the algorithmic aspect of Fraxâs peg mechanism, reducing potential risks of de-pegging.
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 4.05% falling to $60k and ETH 6.67% 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 6.20% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 4.05% climbing back above $61,000 and SOL 7.63% moving above $145, while ETH 6.67% is lagging, trading around $2,400. Among today's outperformers is SUI 5.49% , 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 1.09% 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 4.05% briefly dropping below $62k and ETH 6.67% below $2.5k. Among altcoins, SUI 5.49% is showing...