Crypto Markets Recover and Binance Cancels Voyager Deal

Name: FS Insight
Price range: $$$

Apr 26, 2023

ARB -5.52% BTC -3.48% ETH -4.46% INJ 11.00% RNDR -3.51%

Market Update Crypto markets bounced back sharply today, with $BTC up 5.42% and $ETH up 4.85%. Altcoins such as $ARB and $INJ had huge recoveries, up 15.0% and 28.9% from their lows yesterday. The biggest winner on this bounce has been $RNDR, up 40% from its lows yesterday and putting in new highs for 2023. Crypto's rally comes just after First Republic Bank shares hit record lows after depositors withdrew $100b. Traditional markets are up slightly today, SPX has risen 0.07%, and NDQ is up 1.11%. The US dollar has continued its move lower, falling 0.45%.Binance has backed away from its $1 billion asset purchase deal with bankrupt crypto exchange, Voyager. Voyager disclosed yesterday on Twitter that they received a letter from Binance confirming the termination and also stated that they would move to allow crypto and cash distributions to customers soon via the Voyager platform. This marks the second time a Voyager deal has fallen through - FTX had previously stated they would acquire Voyager, which fell through in November when FTX went insolvent.Alt Layer 1 blockchain, Avalanche, activated its Cortina upgrade on mainnet yesterday. It implements changes to help optimize the network for developers and migrate each Avalanche's chains to a single consensus mechanism. Avalanche curr

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 -3.48% ETH -4.46% RENDER -4.85% SOL -3.04% STX -2.49% TAO 2.53% TIA 2.28% WIF -6.11% XMR -4.64% 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 -3.48% falling to $60k and ETH -4.46% approaching the low $2,300s. Aptos (APT -2.02% ) 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 -5.23% is also showing slight gains following...

AAVE -5.23% APT -2.02% BTC -3.48% ETH -4.46% TOTAL XRP -1.91%

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 -3.48% climbing back above $61,000 and SOL -3.04% moving above $145, while ETH -4.46% is lagging, trading around $2,400. Among today's outperformers is SUI 8.42% , 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...