Tornado Cash Developer Released, Solana Monkey Business IP Sold
Apr 21, 2023
Digital asset markets continue their decline from earlier in the week amidst a broader market correction. ^SPX (-0.1%) and QQQ 0.13% (-0.1%) are poised to make weekly losses, while NDAQ (-0.5%) is set to close the week up 2.0%. BTC 5.22% (-2.3%) is trading at $28k at time of writing after getting rejected from the $30k range on Wednesday. ETH 7.34% (-3.0%) exhibited a higher beta as it slid below $2k as well. Given the market’s progress since the November bottom, much of market sentiment has improved and perhaps overheated, as evidenced by newer projects and increased meme-coin price action. A correction at these levels should be constructive for another leg up without losing market structure at $23k and $1.5k.
