LayerZero and Starknet Confirm Airdrops, El Salvador Announces "Freedom Visa"
The combination of consumer sentiment and unemployment data has provided fuel to support the soft-landing scenario. UMich consumer sentiment came in higher-than-expected (69.4 vs. 62.0), 1-year inflation expectations dropped significantly from 4.5% to 3.1%, and the unemployment rate came in at 3.7% vs. 3.9% expected. Anchored inflation expectations and lower unemployment are giving investors optimism that inflation can retreat while the U.S. avoids a recession, driving the SPX (+0.30%) and NDQ (+0.31%) above $4,600 and $16,000 respectively. Crypto markets are rising with equities, as BTC (+1.44%) is pushing back towards $44k, and ETH (+0.10%) is steadying around $2,360. Cardano is a notable top performer today, rising 25.06% to approximately $0.57, its highest level since August 2022. BONK is continuing its meteoric rise, gaining 25% today and 137% on the week, propelling it into the top three meme coins with a $778 million market cap.
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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 2.04% falling to $60k and ETH -0.66% approaching the low $2,300s. Aptos (APT N/A% ) 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 -1.18% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 2.04% climbing back above $61,000 and SOL 0.26% moving above $145, while ETH -0.66% is lagging, trading around $2,400. Among today's outperformers is SUI 3.06% , 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 0.91% and QQQ 1.87% 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 2.04% briefly dropping below $62k and ETH -0.66% below $2.5k. Among altcoins, SUI 3.06% is showing...
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