ETH as a Security, BRC-20 Token Standard

Name: FS Insight
Price range: $$$

Mar 10, 2023

Author

Walter Teng, CFA ^AC

BTC -0.16% ETH 0.70% HT -8.69% QQQ N/A% SPX N/A%

Market Update 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 (+0.4%) and $QQQ (+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. The NYAG, Letitia James, has filed a lawsuit against the cryptocurrency exchange KuCoin for violating securities and commodities laws in the state. The complaint alleges that Kucoin offered access to Terra (LUNA) and TerraUSD (UST), which were previously claimed by the Securities and Exchange Commission (SEC) as securities, and that Ethereum (ETH), the second-largest cryptocurrency by market capitalization

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC -0.16% ETH 0.70% RENDER -1.44% SOL -0.97% STX -0.03% TAO 4.35% TIA 2.28% WIF -5.78% XMR -2.38% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.16% falling to $60k and ETH 0.70% approaching the low $2,300s. Aptos (APT -1.84% ) 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 8.47% is also showing slight gains following...

AAVE 8.47% APT -1.84% BTC -0.16% ETH 0.70% TOTAL XRP -1.92%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.16% climbing back above $61,000 and SOL -0.97% moving above $145, while ETH 0.70% is lagging, trading around $2,400. Among today's outperformers is SUI 5.26% , 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...