Tether’s $500m Mining Investment, Aave’s Rebrand and Expansion Plans
Stocks are lower today but still on pace to close three straight weeks of gains. The S&P fell 0.1%, while the Nasdaq lost 0.25%. Softer-than-expected inflation data has buoyed equities, but the question is whether investors have seen enough to continue the momentum. Yields were mixed as the 2Y gained 1%, the 10Y was up 0.5%, and the 30Y fell 0.11%. The 2Y and 10Y rates briefly touched lows not seen since they began their recent climb in late September. BTC (-1%) and ETH (-4%) are lower, with Bitcoin trading at $35.9k. Today is the SEC’s last day to approve Franklin Templeton’s bid for a spot Bitcoin ETF. If the SEC wishes to approve a spot Bitcoin ETF without giving any issuer an unfair advantage, they would approve all ETFs concurrently. If Franklin Templeton’s bid is delayed, the next opportunity to do so would be January, which would be a final decision date for many applicants. TIA has continued to outperform since its airdrop, leading the top 100 on daily and weekly gains at 7.37% and 150%, respectively. Celestia is the first modular blockchain focused on data availability, which decouples execution from consensus. While the approach is unproven, bullish investors believe this model can unlock new possibilities for developers using existing smart contract infrastructure.
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 1.70% falling to $60k and ETH 0.35% approaching the low $2,300s. Aptos (APT -0.97% ) 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 0.58% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.70% climbing back above $61,000 and SOL 5.46% moving above $145, while ETH 0.35% is lagging, trading around $2,400. Among today's outperformers is SUI 1.15% , 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 -5.91% and QQQ -6.26% 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 1.70% briefly dropping below $62k and ETH 0.35% below $2.5k. Among altcoins, SUI 1.15% is showing...
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