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Over One Billion in Crypto ETP Inflows, Jupiter Airdrop

Jan 16, 2024
Market Update Equities are falling while rates gain after comments from Fed Governor Waller suggested that central bank policy will ease slower than the market is anticipating. The 10-year Treasury yield jumped to 4.07% while the dollar index gained 0.7% to reach 103.4. $BTC is up 1% today, stabilizing at $43k after volatile price action from last week’s spot ETF launches, which saw it rally to $49k only to fall 15% to $42k in the first few trading days. $ETH continues to outperform after gaining 1.4% to reach $2.56k. Notable outperformers in the top 100 today include SportFi L1 $CHZ (+18.2%), NFT marketplace $BLUR (+17.5%), and decentralized AI network $TAO (+9.9%). Investors are anticipating the release of December's retail sales data on Wednesday, wary that a potential decline in U.S. consumer spending could intensify fears of a recession and raise alarms about the state of economic growth. Despite the debut of a spot Bitcoin ETF, the inflow into crypto investment products totaled $1.18 billion, falling short of the October 2021 record of $1.5 billion, as reported by CoinShares. Concurrently, there was a surge in trading volumes, hitting a record $17.5 billion last week, significantly higher than the 2022 weekly average of $2 billion. Notably, these volumes constituted nea

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