Friend.Tech Drives Base Activity, Visa Experiments with Off-Chain Gas Payments
Equity indices are declining today on higher-than-expected PPI data for July. The SPY 0.56% and QQQ 0.55% have fallen 0.24% and 0.88%, respectively, while U.S. Treasury yields have risen across the board. Crypto markets are faring better, with BTC (+0.17%) trading near $29.5k and ETH (+0.12%) hovering around $1,850. Rocket Pool (RPL) has been a strong performer over the last three trading days, rising 11.30% after Coinbase announced a strategic investment in the liquid staking provider. Looking ahead, the SECâs second deadline on Arkâs spot Bitcoin ETF is 8/13 (Sunday), so many expect a decision to be announced after market close today. The consensus is that they will defer the decision. A deferral would make early September the next key date to watch as multiple ETF applicants, including Blackrock, approach their decision deadlines.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -3.16% falling to $60k and ETH -2.84% approaching the low $2,300s. Aptos (APT 0.49% ) 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 1.23% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -3.16% climbing back above $61,000 and SOL -2.94% moving above $145, while ETH -2.84% is lagging, trading around $2,400. Among today's outperformers is SUI -5.80% , 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 0.56% and QQQ 0.55% 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 -3.16% briefly dropping below $62k and ETH -2.84% below $2.5k. Among altcoins, SUI -5.80% is showing...
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