Binance Regulatory Woes Continue, TradFi Announce Foray Into Digital Asset Businesses
Equity markets pulled back today amidst doubts about the global economy, stalling the recent rally that has seen equities de-couple from crypto. US Housing in both single and multi-family projects came in far higher than expected, China experienced trimmed loan prime rates for households and businesses (4.3% –> 4.2%) but whether it is sufficient to bolster its economic recovery remains to be seen, while US10Y slipped to 3.756% from 3.768% on Friday. ^SPX 0.73% and QQQ 1.40% are down by 0.35% and 0.10%, respectively. Digital asset markets are outperforming traditional markets, with BTC and ETH up 1.74% and 0.26% in the same period. While last week’s Blackrock Spot ETF has been one of the major developments in a while, markets seem to have absorbed the catalyst with relatively unimpressive price action, prompting further optimistic caution in our view.
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.09% falling to $60k and ETH 4.43% approaching the low $2,300s. Aptos (APT 1.73% ) 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 6.78% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.09% climbing back above $61,000 and SOL -1.01% moving above $145, while ETH 4.43% is lagging, trading around $2,400. Among today's outperformers is SUI 1.25% , 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 0.73% and QQQ 1.40% 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 -0.09% briefly dropping below $62k and ETH 4.43% below $2.5k. Among altcoins, SUI 1.25% is showing...
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