Grayscale Withdraws ETH ETF Application, BitMEX Launches Options
May 8, 2024
Market Update The crypto market declined overnight, with #BTC dropping from $63k to $61k, #SOL from $150 to $145, and #ETH dipping below the $3k mark once again. The likely cause of the drawdown was upward pressure on the #DXY and a lack of follow-through in flows. Among the few outperformers of the day were #RUNE, the native token of the cross-chain swapping protocol Thorchain, and Ethereum Classic (#ETC), possibly driven by traders speculating on the SEC chair's critical comments toward ETH and its PoS mechanism. Major equity indices opened lower but are nearing flat performance for the day