COIN Launching into Orbit, GHO Launching on Mainnet
BTC is once again testing the $31k mark, while ETH inches towards $1.9k, reflecting a general rise in most large cap assets today. SOL 33.61% continues to show relative strength, moving above $22 on the day, a rise potentially attributable to improving DeFi user data. DeFi 1.0 coins, such as COMP 4.11% and AAVE, are outperforming the majors, suggesting continued momentum within the DeFi sector. Today’s standout performer in the broader crypto universe is Coinbase equity, which has experienced a 10% increase following its addition to five other surveillance-sharing agreements within ETF applications (more on this below). Meanwhile, traditional equity markets are trading higher in anticipation of tomorrow’s CPI report. The consensus expectation is for the headline CPI to fall within the low 3.0% range (CPI chart below). Long-dated bonds persist in rallying as long-term rates retreat while short-term rates climb. Despite an ostensibly robust economy, the DXY is nearing its year-to-date lows, providing an additional potential boost for crypto prices.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.99% falling to $60k and ETH -0.96% approaching the low $2,300s. Aptos (APT 0.58% ) 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 -0.81% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.99% climbing back above $61,000 and SOL -4.39% moving above $145, while ETH -0.96% is lagging, trading around $2,400. Among today's outperformers is SUI -1.18% , 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 0.77% and QQQ 0.60% 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 -0.99% briefly dropping below $62k and ETH -0.96% below $2.5k. Among altcoins, SUI -1.18% is showing...
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