ETH as a Security, BRC-20 Token Standard
Mixed payroll and wage growth figures released today are reflected in Friday’s trading session thus far. U.S. payrolls rose more than expected (225k) with a gain of 311k in February, while the unemployment rate pushed higher to 3.6%. Monthly wage growth printed 0.2% (vs 0.3% consensus), correlating to a 4.6% increase from a year ago. ^SPX 3.35% (+0.4%) and QQQ 4.05% (+0.5%) opened lower before trading slightly above yesterday’s close on the ambivalent news, while digital asset markets are also rebounding after bleeding down yesterday. BTC and ETH are trading at 6.3% and 6.5% discounts over the past day. Altcoins have generally performed poorly over the past week, with Huobi (HT) experiencing a 90% flash crash in the past day. Justin Sun has responded by opting to cover losses caused by the volatility and setting up a $100m liquidity fund improve HT liquidity depth.