FTX Looks to Sell Assets, dYdX Rises
Crypto and equities are falling today despite the buzz around impressive Nvidia earnings. The S&P is down 0.77%, while the Nasdaq has lost 1.28% at writing. Investors are focused on what may be a pivotal speech from Chair Powell regarding the Fedâs stance on further rate hikes tomorrow at Jackson Hole. U.S Treasury yields are rising, with the 10-year up three basis points at 4.22%, below the 4.35% 16-year high reached earlier this week. Both BTC and ETH have followed equities lower, losing 1.8% and 2.0%, respectively. Distributed GPU token RNDR is the top gainer among a sea of red in the top 100 alts, rising 3.0% over the last day. Nvidiaâs robust earnings likely renewed optimism for the outlook on demand for GPU processing, which serves as the backbone of many AI applications.
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