Ethereum Takes the Spotlight, Sui Enhances Consensus Mechanism
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CRYPTO MARKET UPDATE RATES HAVE PARED EARLY MORNING LOSSES AFTER MAY JOLTS DATA SHOWED 8.14 MILLION JOB OPENINGS VERSUS 7.91 MILLION EXPECTED. Equities are showing slight gains, with the SPY 0.54% increasing to $546 and the QQQ 0.97% gaining to $484, helped by Tesla’s better-than-expected Q2 deliveries, leading to TSLA surging over 9%. Crypto assets are mixed, with majors showing declines and the broader altcoin market rallying. BTC -3.26% is trading below $61.8k,...
CRYPTO MARKET UPDATE BTC IS UP 5% SINCE MARKET CLOSE ON FRIDAY, HOVERING JUST ABOVE $63K, WHILE ETH -2.76% IS LAGGING, CURRENTLY TRADING BELOW $3500. This ETH underperformance further supports the idea that market expectations for the ETH -2.76% ETFs are relatively muted. Meanwhile SOL -0.54% is nearly back to the level it traded at on Thursday following VanEck's application to list a SOL -0.54% ETF, now trading around $148. While we have yet...
CRYPTO MARKET UPDATE DESPITE MAY PCE DATA COMING IN LINE WITH EXPECTATIONS AT 0.0% MOM, U.S. TREASURY YIELDS ARE MOVING HIGHER ACROSS THE CURVE, AND THE DXY IS HOLDING STEADY AT $105.8. Equity indices are flat on the day in the final trading session of Q2. Crypto is showing weakness, with BTC -3.26% declining to $60.7k and ETH -2.76% falling below $3,400. After surging upon news of VanEck filing for a Solana...
CRYPTO MARKET UPDATE THE CRYPTO MARKET RALLIED THIS MORNING ALONGSIDE FALLING RATES AND A WEAK DXY. Quarterly GDP growth aligned with market expectations at 1.4%, and durable goods orders slightly exceeded expectations. The most important piece of macro data this week will be Core PCE, due tomorrow. Among the majors, SOL -0.54% outperformed, rallying to $148 on the news of VanEck filing an ETF application. Meanwhile, ETH -2.76% is trading around $3,450,...
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