Starknet Airdrop Speculation, Circle Denies BBC Allegations
Equities are continuing to climb after closing out a strong November rally. The S&P gained 8.9% for the month, while the Nasdaq advanced 10.7%. Cooling inflation data coupled with a resilient economy drove optimistic sentiment. Jerome Powel commented on the future rate hike this morning, attempting to temper expectations of future interest rate cuts. He stated that it’s too early to assert that the current monetary policies are adequately stringent. Despite Powell’s cautious words, bond yields decreased as investors interpreted his comments to suggest that the Fed might not increase rates further. Consequently, the 10-year Treasury note yield dropped by six basis points to 4.295%. BTC has risen 3.1% to new YTD highs, reaching $38.8k for the first time since May 2022. The price surge is fueled by excitement over a proposed U.S spot bitcoin ETF, coupled with on-chain data indicating that a substantial portion of the asset has been transferred to cold storage. This suggests a strong demand and a reduced likelihood of immediate selling pressure. ETH is performing in line with BTC, rising 3.5% to trade at $2.1k. DYDX is a notable underperformer, with a 3% fall today coinciding with a ~$505 million unlock (81% of circulating supply). The unlock comes from vesting of a 50% allocation to investors, founders, employees, and other insiders. The recent unlock constitutes 30% of this allocation – or 15% of the total DYDX supply.
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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 -0.78% falling to $60k and ETH 1.73% approaching the low $2,300s. Aptos (APT -0.88% ) 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 6.62% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.78% climbing back above $61,000 and SOL -1.22% moving above $145, while ETH 1.73% is lagging, trading around $2,400. Among today's outperformers is SUI 5.67% , 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 0.40% and QQQ 0.80% 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 -0.78% briefly dropping below $62k and ETH 1.73% below $2.5k. Among altcoins, SUI 5.67% is showing...
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