Optimism Completes Bedrock Upgrade, CBOE Receives Margined Futures Approval

Jun 7, 2023

Traditional markets are stumbling today as the National Bank of Canada unexpectedly raised interest rates by 25 bps, sparking fears that the U.S. will potentially follow suit. The ^SPX 0.69%  (-0.31%) failed to break through $4,300, while the NDQ (-1.36%) has taken a pause on its recent outperformance. Crypto markets are still digesting the repercussions of the SEC lawsuits against Binance and Coinbase, with BTC (-3.15%) trading around $26.3k and ETH (-2.26%) hovering near $1,850. Binance Coin (BNB) has fallen over 8% today amid rumors that the U.S. Department of Justice will bring further legal action against the exchange. In contrast, Stacks (STX 0.46% ) is one of the top performers today, rising 4.55% as investors acknowledge the company’s prior efforts to launch its token with regulatory approval from the SEC.

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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.39% falling to $60k and ETH 3.45% approaching the low $2,300s. Aptos (APT 2.08% ) 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 7.15% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.39% climbing back above $61,000 and SOL -1.83% moving above $145, while ETH 3.45% is lagging, trading around $2,400. Among today's outperformers is SUI -0.08% , 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...

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