COIN Launching into Orbit, GHO Launching on Mainnet

Name: FS Insight
Price range: $$$

Jul 11, 2023

Author

Sean Farrell ^AC

AAVE -4.61% BTC -2.51% COMP -7.68% DXY N/A% ETH -3.68% SOL -5.02%

Market Update $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 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 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.Cboe, a major exchange operator, has revised five filings for proposed spot Bitcoin ETFs, suggesting the formation of a surveillance-sharing agreement (SSA) with Coinbase. This arrangement is akin to those in place with BlackRock

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