Grayscale Withdraws ETH ETF Application, BitMEX Launches Options
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MARKET UPDATE Equity indices are relatively flat in Tuesday’s trading, with the SPY 0.33% and QQQ 0.76% decreasing about 0.10%. Crypto is showing slight declines, with BTC 1.11% trading around $57k and ETH 1.36% trading in the mid $2,300s. TON 0.97% has been a top performer this week as founder and CEO Pavel Durov has been released from French authorities, and he delivered a statement addressing the situation. TON 0.97% has gained 9.17% so far this...
CRYPTO MARKET UPDATE Following an overnight recovery, crypto prices have once again aligned with equities, which have drifted lower since the U.S. market open. BTC 1.11% is hovering around $55,000, ETH 1.36% is just below $2,300, and SOL 0.44% is trading just under $130. Before the broader market pullback over the past couple of hours, several altcoins had been outperforming, with AAVE 7.45% leading among the top 50. AAVE has continued to show strength...
MARKET UPDATE Risk assets are selling off following the release of Non-Farm Payrolls data this morning, showing 142k payrolls added in August compared to 165k expected, along with June and July numbers being revised sharply lower. The data has fueled recession fears while also sparking uncertainty over the Fed’s policy path and whether they will cut rates by 50bps or 25bps this month. Markets are currently leaning towards 25bps, assigning...
HNT Strength Persists Following $200k Burn, Broder Crypto Market Falls on Mixed Econ Data
CRYPTO MARKET UPDATE Jobless claims came in consistent with recent trends, while the ADP report fell well below market expectations, posting 99k jobs versus the 145k expected. Meanwhile, the ISM Services PMI showed another expansionary figure this month, continuing its divergence from ISM Manufacturing PMI. This initially provided a bounce in yields and risk assets, but over the past few hours, yields have started to roll over again while major...
