Fed Issues Stablecoin Guidance, Rollbit Soars
BTC has retraced 0.8% after briefly trading above $30k. The rally followed comments from Galaxy Digital CEO Mike Novogratz on an earnings call where he hinted at a potential approval of a spot ETF within six months, citing sources at BlackRock and Invesco. ETH is also lower 0.3% reaching $1.85k. Crypto Casino and Exchange Rollbitâs RLB gained 50%, entering and outperforming the top 100 after recent updates to its tokenomics (more below). U.S equities are slightly lower ahead of tomorrowâs highly anticipated CPI release, with the S&P down 0.3% and the Nasdaq 0.66% lower. Investors will be closely monitoring the index to gain potential insights into the future actions of the Federal Reserve regarding interest rates. According to a survey conducted by Dow Jones, economists anticipate that the inflation measure increased by 3.3% in July.
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC falling to $60k and ETH approaching the low $2,300s. Aptos (APT) 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 is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC climbing back above $61,000 and SOL moving above $145, while ETH is lagging, trading around $2,400. Among today's outperformers is SUI, 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 -0.33% and QQQ 0.19% 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 briefly dropping below $62k and ETH below $2.5k. Among altcoins, SUI is showing...
Articles Read 1/2
Enjoyed the read? Subscribe now for unlimited access!
Get invaluable analysis of the market and stocks. Cancel at any time.
Already have an account? Sign In 9bbeeb-48b41a-61d5b0-c1f5ba-d2366d
Already have an account? Sign In 9bbeeb-48b41a-61d5b0-c1f5ba-d2366d