Binance Wallet Launches BRC-20 Support, Jupiter Sees Record Trading Volume
The S&P 500 is rebounding, rising 0.5% after a tough session for major stock indices triggered by the Federal Reserve’s decision to maintain interest rates and hinting that a March reduction is unlikely. This recovery follows a challenging day on Wall Street, where the Dow dropped 317 points or 0.8%, marking its most significant decline since December. The S&P 500 fell 1.6% yesterday, its steepest drop since September, and the Nasdaq Composite shed 2.2%, its largest fall since October. These downturns occurred after Fed Chair Jerome Powell dampened expectations for an imminent rate cut in March, leading to a sharp sell-off in stocks. On a brighter note, Powell mentioned that the economy is growing steadily, and inflation rates are projected to fall. In other developments, Alphabet and Microsoft experienced a downturn in their stock prices despite their impressive earnings. Apple, Amazon, and Meta will announce their earnings after today’s market close. BTC has fallen 2.2% to $42.4k, while ETH is trading in line at $2.28k. LINK -3.17% is a notable outperformer today, as the 13th largest token by market cap led the top 100 in gains, rising 6.4% to $16.57 at writing. The gains followed announcements from Chainlink BUILD member Xswap about utilizing Chainlink’s CCIP protocol in their beta for seamless cross-chain swaps.
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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 -3.12% falling to $60k and ETH -2.44% approaching the low $2,300s. Aptos (APT 0.49% ) 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 2.33% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -3.12% climbing back above $61,000 and SOL -2.90% moving above $145, while ETH -2.44% is lagging, trading around $2,400. Among today's outperformers is SUI -5.72% , 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 0.56% and QQQ 0.55% 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 -3.12% briefly dropping below $62k and ETH -2.44% below $2.5k. Among altcoins, SUI -5.72% is showing...