yETH Proposal Draws Mixed Reviews, SEC Summons Justin Sun and Celebrities to Court
Digital asset markets continue their run-up from Ethereum’s successful Shapella upgrade midweek, while traditional markets stall. BTC (-1%) is holding the 30k level since breaching it on Monday, while ETH (+2.5%) breached $2.1k last evening before dipping right below it at the time of writing. ETHBTC is trading back above the 0.066 level at 0.068 after failing to break down from 0.062. ^SPX 0.71% (-0.4%) and QQQ 0.48% (-0.6%) opened higher before retracing below yesterday’s close, correlating inversely with bond markets. The 2Y and 10Y yields are up 3.6% and 2.4% on the day, currently at 4.1% and 3.5%, respectively. Over the past week, INJ has been the second-strongest performer in the top 100, gaining 46%. The finance-focused Layer1 partnered with Eclipse to launch Cascade two weeks ago, their Layer2 testnet for Solana-based apps on Cosmos.
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CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 3.64% climbing back above $61,000 and SOL 8.23% moving above $145, while ETH 7.80% is lagging, trading around $2,400. Among today's outperformers is SUI 8.13% , 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...
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 0.71% and QQQ 0.48% 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 3.64% briefly dropping below $62k and ETH 7.80% below $2.5k. Among altcoins, SUI 8.13% is showing...
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