Shiba L2 Nears Launch, Binance.US Wins Court Approval to Acquire Voyager

Name: FS Insight
Price range: $$$

Mar 8, 2023

BTC -1.59% ETH -0.30%

Market Update Equities are recovering after selling off following Fed Chair Powell’s hawkish congressional testimony yesterday. The S&P and Nasdaq are up 0.28% and 0.66%, respectively. Powell acknowledged a recent string of strong economic data releases, which he stated could potentially lead to a higher peak interest rate than expected. He also said accelerating the pace of rate hikes was not off the table, reiterating the Fed’s data-driven approach to taming high inflation. Market expectations for future rate hikes repriced dramatically, now showing a 79% probability the Fed will increase rates 50 bps at the next FOMC meeting, doubling from a 30% chance last week. The 2-10 year yield curve inversion reached its steepest level since 1981 (-103bps), with the 2-year yield now trading near ~5.04%, its highest yield since 2007. The U.S. dollar had its biggest rally since November 3rd yesterday, as investors began to see the Fed as the most hawkish among central banks. $BTC (~$22.1k) and $ETH ($1.5k) continue to trade in a narrow range, down 0.47% and 0.27%, respectively. Both continued their downtrend since mid-Febuary and have made lower local lows following Powell’s testimony.Shiba Inu’s team announced its layer-2 scaling solution Shibarium is nearing launch, leading $SHI

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