Flows Turn Negative to Start the Week, ENA Token Launches
Risk markets are experiencing a broad decline today, largely attributable to the surge in rates following the impressive PMI figures released yesterday. The US 10-year yield briefly reached 4.4%, marking its highest level since November. The crypto market was particularly affected in the early US hours today, with over $400 million in futures liquidations and BTC moving from nearly $70k to just below $65k. Following suit, the wider crypto market saw significant drops, with ETH descending to nearly $3200 and SOL N/A% retreating to $176. With interest rates largely influencing current market dynamics, crypto-related equities are underperforming, with some miners down over 10%. There are few crypto assets that are managing to stay in the green today. Meanwhile, in traditional markets, major equity indices are also down substantially, with the QQQ falling by 1.1% and the S&P 500 by 0.9%.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 0.04% falling to $60k and ETH -3.68% 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 -7.40% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.04% climbing back above $61,000 and SOL -3.53% moving above $145, while ETH -3.68% is lagging, trading around $2,400. Among today's outperformers is SUI -6.10% , 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 0.11% and QQQ 0.23% 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 0.04% briefly dropping below $62k and ETH -3.68% below $2.5k. Among altcoins, SUI -6.10% is showing...
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