BONK Leads to Solana Saga Phone Sales Spike, Arbitrum Outage
Equities are mixed today but on track for the seventh straight week of gains, the longest winning streak since 2017. The Nasdaq gained .38% while the S&P fell .49%. Both indices are in striking distance of all-time highs following comments from Fed officials about inflation coming down and potential rate cuts in 2024. BTC has pulled back to $41.8k, down 3.3% after facing resistance at $43.4k. ETH is performing in line with BTC, falling 3.2% to $2.2k. Solanaâs top memecoin BONK has outperformed the top 100 on both daily (+79.2%) and weekly timeframes (136.9%). Momentum that started on chain continued with major CEX listings, after an initial sell-off the rally continued following a listing on Coinbase. Three of the top five weekly performers were Cosmos based assets, driven by investors buying network tokens to stake for potential airdrops. Decentralized exchange OSMO and layer-ones INJ and KUJI were the top beneficiaries. The run was preceded by TIA climbing over 6x from its airdrop price, also due to anticipation of potential airdrops for stakers.
Reports you may have missed
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 2.45% falling to $60k and ETH 1.05% approaching the low $2,300s. Aptos (APT 1.40% ) 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 3.34% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 2.45% climbing back above $61,000 and SOL 2.36% moving above $145, while ETH 1.05% is lagging, trading around $2,400. Among today's outperformers is SUI 7.29% , 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 -0.74% and QQQ -0.90% 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 2.45% briefly dropping below $62k and ETH 1.05% below $2.5k. Among altcoins, SUI 7.29% is showing...