Shopify Integrates USDC Payments, Friend.tech Activity Dries Up
After digesting Fed Chair Powellâs speech at Fridayâs Jackson Hole Economic Symposium over the weekend, traditional indices are rising, with both the SPY 0.44% and QQQ 0.92% gaining approximately 0.40% at the time of writing. In a busy week for economic data, investors will be eyeing the release of JOLTS, ADP employment, the PCE index, and non-farm payrolls to form an outlook on the labor market and inflation. Crypto markets are relatively flat, with BTC (+0.05%) remaining steady around $26k, and ETH (-0.38%) holding at $1,650. Retail investing and trading platform Robinhood is speculated to own a $3 billion Bitcoin wallet. The wallet has accumulated most of the 118k Bitcoin balance over the last few months, making it the third largest Bitcoin holder behind Binance and Bitfinex. Robinhood has not publicly confirmed if they are the walletâs owner, but if so, it would mark significant exposure to crypto despite the platform reporting an 18% drop in crypto trading revenues in Q2.
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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 0.33% falling to $60k and ETH -2.23% approaching the low $2,300s. Aptos (APT -0.11% ) 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 -4.75% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.33% climbing back above $61,000 and SOL -0.40% moving above $145, while ETH -2.23% is lagging, trading around $2,400. Among today's outperformers is SUI -1.42% , 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 0.44% and QQQ 0.92% 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 0.33% briefly dropping below $62k and ETH -2.23% below $2.5k. Among altcoins, SUI -1.42% is showing...