MKR as Collateral for DAI Proposal, L2 Interoperability Competition Heats Up
Feb 24, 2023
Market Update Traditional markets opened sharply lower today following higher YoY PCE data (5.4% in January vs 5.3% in December). With the Fed looking at PCE as their preferred gauge of inflation, the higher print incites fears that they will likely have to do more to cool price pressures. $SPX and $QQQ have opened and subsequently bled lower from yesterday's close, trading at -1.5% and -2.0% at the time of writing. With correlations to traditional markets tightening again, $BTC and $ETH are also down 2.2% and 3.0% over the last day. Amongst the top 100, $STX has appreciated the most in the