Bitcoin Network Transactions Reach All-time Highs, SUI Rises Ahead of Mainnet
May 2, 2023
Market Update $BTC has rebounded 1.2% while stocks fell due to weakness in the banking sector. The S&P is down 1.68%, and the Nasdaq fell 1.45%. While JP Morgan’s takeover rescued First Republic, fear has spread to other regional banks. Shares of PacWest, Western Alliance, and Metropolitan Bank all had trading paused after falling over 20% this morning. Gold moved 1.4% higher while the $VIX jumped to over 19, 20% higher than its intraday low of under 16 yesterday. The market is full of uncertainty, with trouble in the banking sector, the debt ceiling looming, and tomorrow’s Fed rate decis