Shiba L2 Nears Launch, Binance.US Wins Court Approval to Acquire Voyager
Equities are recovering after selling off following Fed Chair Powellâs 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 Fedâs 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 Powellâs testimony.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 4.44% falling to $60k and ETH 6.86% 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 7.28% is also showing slight gains following...
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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 4.44% briefly dropping below $62k and ETH 6.86% below $2.5k. Among altcoins, SUI 6.26% is showing...