Optimism and Sui Upcoming Token Unlocks, LayerZero Halts Emissions on Fantom Pools
After showing gains in after-hours trading, markets retraced on the first trading day after Memorial Day Weekend. President Biden and House Speaker McCarthy struck a tentative deal to raise the U.S. debt ceiling, although markets are ambivalent on whether it can be implemented by the June 5th deadline. ^SPX -0.91% and QQQ -1.36% opened 0.5% and 1.1% higher from last week’s close before retracing to 0.1% and 0.9% higher, respectively. Treasury yields edged down after rising for almost two consecutive weeks, with the US10Y currently trading at 3.7%. BTC and ETH pumped on low liquidity on Sunday when the deal was announced, and are up 0.3% and 0.7% over the past day. OP -2.93% has retraced the most in the top 100, down by 6.5% over the past day and 11.9% in the past week, elaborated further below
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 0.86% falling to $60k and ETH 2.28% approaching the low $2,300s. Aptos (APT 1.15% ) 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 2.47% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.86% climbing back above $61,000 and SOL 5.07% moving above $145, while ETH 2.28% is lagging, trading around $2,400. Among today's outperformers is SUI 3.24% , 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 -0.91% and QQQ -1.36% 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 0.86% briefly dropping below $62k and ETH 2.28% below $2.5k. Among altcoins, SUI 3.24% is showing...
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