Coinbase Strikes Back at the SEC and Genesis' Restructure Plan Collapses
Equity indices are falling today amid an action-packed week of corporate earnings. The SPY -1.09% (-0.81%) is trading just above $410, while the QQQ -1.69% (-1.03%) is hovering around $313. After reaching its lowest level since November 2021, the VIX (+8.53%) is beginning to rise again. Crypto is in-line with equities as BTC (-0.49%) is trading at $27,300, and ETH (-1.39%) is trying to stay above $1,800. Arbitrum has completed its distribution of ARB 0.28% tokens to its ecosystemâs DAOs. Airdrop allocations are providing a large boost to projectsâ value as a percentage of their market caps (see below). As a result, smaller Arbitrum tokens such as VSTA 0.28% and PLS are outperforming amid a broader market selloff, rising 15.86% and 3.52%, respectively, over the last 24 hours.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 0.11% falling to $60k and ETH 1.63% approaching the low $2,300s. Aptos (APT -0.05% ) 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 -0.21% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.11% climbing back above $61,000 and SOL 1.35% moving above $145, while ETH 1.63% is lagging, trading around $2,400. Among today's outperformers is SUI -0.02% , 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 -1.09% and QQQ -1.69% 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 0.11% briefly dropping below $62k and ETH 1.63% below $2.5k. Among altcoins, SUI -0.02% is showing...