Block Completes Design for ASIC Chip and New Memecoin Enters Top 100 Largest Coins by Market Cap
Crypto had a choppy weekend, which concluded in prices falling last night. At the time of writing, BTC is down 3.68%, and ETH is down 2.15%. Altcoins were also down across the board, SOL 2.44% is down 4.75%, and ARB 0.04% is down 3.66%. An exception to this market correction is a new meme coin called PEPE which has rapidly made its way into the top 100 coins by market cap. PEPE is up 66.05% today and we discuss it later in this report. Another altcoin that has held up relatively well is BNB, down 2.0% today and rose ~6.0% over the weekend. Binance is holding a launch event for Layer 1 Blockchain SUI 2.21% and in order to participate, users must stake BNB and TUSD tokens to farm SUI over a 2-day period. This as well as other successful Binance Launchpool events this year has been a tailwind for BNB. Traditional markets are mostly flat today, SPX is up 0.16%, and NDQ is down 0.11%.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 8.38% falling to $60k and ETH 9.79% approaching the low $2,300s. Aptos (APT 0.07% ) 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 10.31% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 8.38% climbing back above $61,000 and SOL 18.41% moving above $145, while ETH 9.79% is lagging, trading around $2,400. Among today's outperformers is SUI 8.91% , 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 1.49% and QQQ 1.53% 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 8.38% briefly dropping below $62k and ETH 9.79% below $2.5k. Among altcoins, SUI 8.91% is showing...
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