SEI Token Launches, Potential Grayscale Decision Friday

Name: FS Insight
Price range: $$$

Aug 15, 2023

Author

Sean Farrell ^AC

BTC -2.47% ETH -5.00% RUNE N/A%

Market Update On Tuesday, major equity indices saw a decline attributed to global economic concerns, particularly centered around China, and cautionary statements from Fitch regarding further potential downgrades in ratings for U.S. banks. Despite these apprehensions, July's U.S. retail sales data defied expectations, registering a 0.7% monthly increase, surpassing economists' expectations of 0.4%. This outcome underscored the enduring strength of the U.S. consumer. Interestingly, the day witnessed relatively stable rates, which could be attributed to the conflicting influences of robust domestic data and sluggish global economic indicators. The crypto market continued to move sideways until alts sold off around 3 pm EST, prompted by long liquidations amounting to over $84 million. Both $BTC and $ETH faced a minor dip but generally adhered to their established trading ranges of recent weeks. However, other altcoins experienced more noticeable declines, with major Layer 1 tokens trading 2-3% lower. Notably, the day's standout performer was $RUNE, surging by 14% within the last 24 hours and achieving a remarkable 60% increase over the past week. This upswing could be attributed to the introduction of Thorchain's novel lending protocol, allowing users to borrow against their BTC an

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

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...

BTC -2.47% ETH -5.00% RENDER -4.04% SOL -3.61% STX -6.48% TAO -2.21% TIA 2.28% WIF -7.94% XMR -3.79% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -2.47% falling to $60k and ETH -5.00% approaching the low $2,300s. Aptos (APT -6.14% ) 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 -8.90% is also showing slight gains following...

AAVE -8.90% APT -49.14% BTC -2.47% ETH -5.00% TOTAL XRP -2.42%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -2.47% climbing back above $61,000 and SOL -3.61% moving above $145, while ETH -5.00% is lagging, trading around $2,400. Among today's outperformers is SUI -3.85% , 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...