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$SUI Token Launches and $BUSD hits Record Low in Activity

May 3, 2023

Prices slid lower this morning ahead of the Fed’s FOMC meeting at 2 pm ET before bouncing back after the Fed’s interest rate decision of 25bps was released. Bitcoin and Ethereum are up 0.23% and 0.82%, respectively, while most altcoins are down. ARB -0.05%  is down 1.69%, SOL -2.09%  is down 2.13%, and LDO is down 3.72%. An exception to this is Bitcoin layer 2 blockchain, STX -1.95% , which is up 5.28% as transactions on Bitcoin hit all-time highs due to Ordinal and BRC-20 activity picking up, which we discuss in more detail below. Traditional markets are up slightly – SPX is up 0.30%, and NDQ is up 0.30%. The dollar (DXY) is continuing its move lower, down 0.58%. 

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BTC -2.78% ETH 1.08% RENDER -1.20% SOL -3.92% STX 8.22% TAO -1.13% TIA 2.28% WIF -2.44% XMR 3.15% WULF -4.39%
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CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -2.78% climbing back above $61,000 and SOL -3.92% moving above $145, while ETH 1.08% is lagging, trading around $2,400. Among today's outperformers is SUI -1.21% , 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...

BTC -2.78% ETH 1.08% SOL -3.92% SUI N/A% XRP -3.49% QQQ -0.15% SPY -0.54%
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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 -0.54%  and QQQ -0.15%  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 -2.78% briefly dropping below $62k and ETH 1.08% below $2.5k. Among altcoins, SUI -1.21% is showing...

AAVE 5.37% APT 0.13% BLAST 0.00% BTC -2.78% EIGEN 7.29% ETH 1.08% LDO 8.61% POL N/A% SUI N/A% TON -77.68% QQQ -0.15% SPY -0.54% XAU
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CRYPTO MARKET UPDATE Crypto markets have broadly moved lower over the past 24 hours, though there are notable pockets of resilience. BTC -2.78% is testing its 200-day moving average, just below $64,000, while ETH 1.08% is showing relative strength, trading above $2,600. SOL -3.92% has outpaced both majors, trading just above $156. Among the top 100, standout performers include BONK -1.24% , BEAM -1.96% , WIF -2.44% , AR -3.53% , and TAO -1.13% . Meanwhile, US equity markets are rebounding from a...

AR -3.53% BEAM -1.96% BONK -1.24% BTC -2.78% DIA N/A% ETH 1.08% SOL -3.92% TAO -1.13% WIF -2.44%

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