Potential ETH Futures Approval, Gensler Grilled in Congress

Sep 28, 2023

Equities and crypto are finally seeing some relief, with the Nasdaq and S&P bouncing ~1% while BTC has gained 3.4% to trade at $27.1k. Investors continue to look for signs of a soft landing, with a fresh release of 2Q GDP matching consensus estimates of 2.1% annualized growth. Meanwhile, pending home sales fell 7.1% in August, massively overshooting 1% estimates from Bloomberg. The slowdown was widespread, with every region in the U.S seeing MoM drops. This could perhaps add ammo to the bull case of slowing inflation, which has a sizable component coming from housing data. ETH is slightly outperforming (+3.8%) BTC, with positive developments on the prospects of ETH based futures ETFs (more below). LDO has been the top performer among the top 50 by MC. Lido tends to trade with a high beta to ETH as fees and earnings of the protocol trail the price of ETH.

Stay up to date with the latest articles and business updates. Subscribe to our newsletter

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