Eigen Layer Attracts $6 Billion in TVL, Jupiter Launchpad Candidates
Bitcoin’s value has increased by 6% in the past day, surpassing $47k. This surge is attributed to various factors, including ETF flows, short liquidations, and the typically positive sentiment around the performance of BTC during the Chinese New Year. Additional factors contributing to Bitcoin’s rally include a decrease in sales by miners and potential positive influence from stock markets surging to all-time highs. CryptoQuant, an on-chain analytics firm, noted a slowdown in Bitcoin sales from miners’ wallets, indicating a reduction in selling activity. Yesterday, Bitcoin ETFs experienced significant flows of over $400 million, marking the third-largest daily input since their inception, with total inflows now exceeding $2 billion. Over the last two weeks, the asset has seen nearly a 15% increase, mitigating previous losses after the launch of anticipated spot Bitcoin ETFs, which resulted in a “sell-the-news” scenario. In related news, publicly listed cryptocurrency companies continue to see their stock values increase following Bitcoin’s upswing. CleanSpark, a Bitcoin mining company, led the charge with nearly a 36% increase following a reported profit of $25.9 million last quarter, a significant improvement from a $29 million loss the previous year. Other companies like Riot Platforms and Marathon Digital Holdings also experienced gains, increasing by 12% and 10%, respectively.
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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 5.83% falling to $60k and ETH 4.60% approaching the low $2,300s. Aptos (APT -0.57% ) 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 1.16% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 5.83% climbing back above $61,000 and SOL 7.19% moving above $145, while ETH 4.60% is lagging, trading around $2,400. Among today's outperformers is SUI 7.21% , 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 -0.26% and QQQ -0.71% 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 5.83% briefly dropping below $62k and ETH 4.60% below $2.5k. Among altcoins, SUI 7.21% is showing...