Crypto Research
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This morningâs jobless claims were softer than anticipated (242k vs. 254k exp.), potentially giving the Fed room to diverge from the expected âpauseâ at Juneâs FOMC meeting. The data release has not disheartened equity investors as the divergence between equities and crypto has continued. The SPY 8.90% (+0.53%) is approaching $4,200, and the QQQ (+1.24%) surpassed August â22 highs, while BTC -2.68% (-0.71%) and ETH -2.16% (-0.40%) are showing modest declines. Among the...
Stocks are rising as investors anticipate a potential agreement between congressional leaders and President Joe Biden regarding the U.S. debt ceiling. The S&P gained 1.19%, while the Nasdaq is up 1.2%. Leaders on both sides of the aisle made positive comments following negotiations. House Speaker McCarthy stated it's "possible to get a deal by the end of the week," President Biden said he was "confident" about a deal resolution. BTC -2.68% ...
Lido Finance Launches v2 Upgrade, Institutional Infrastructure Continue to Attract Funding and Partnerships
Markets saw a retracement as retail sales data for April came in lower than expected, triggering fears of weak earnings from retailers. SPX and NDAQ slid 0.3% and 0.6% lower than yesterday's close, while the QQQ continued its ascent from nearly two weeks ago, up 0.5%. Digital asset markets saw a similar decline, with BTC -2.68% dipping below $27k for the second time in the past month, and ETH -2.16% trading at...
Bitcoin (BTC -2.68% ) and the broader crypto market are staging a recovery after a week of bearish price action, with altcoins facing particularly excessive pressure. Bitcoin has successfully bounced off its key 200-week moving average around $25,800 and is now hovering around $27,400. Ethereum (ETH -2.16% ), meanwhile, remains stable above the $1,820 level. Notable standout performers include altcoin LDO -4.16% , up 12% on the day, potentially driven by improved withdrawal capabilities and short...
FIGURE: PEPES WEARING CONES TO CELEBRATE NEW CURVE ECOSYSTEM PROTOCOL INVESTMENT THESIS Out of the numerous tokenomic designs that emerged (and failed) last cycle, the vote-escrowed model proved objectively most ‘feasible’, as evidenced by Curve’s dominant position in TVL amongst DEXs. Control over a protocol’s gauge emissions made sense to many, assigning real value to governance tokens. The second-order expectations that liquidity would follow did as well. However, maximizing yield...
Stocks and crypto continue to slide as BTC -2.68% fell 2.0% while the S&P dropped 0.52%. The S&P is on track to close its second negative week after the University of Michiganâs consumer sentiment index estimate came in at a 6-month low of 57.7 vs. 63 expected. The survey also showed consumer outlook for inflation over the next 5 years has reached the highest level since 2008, with 3.2% inflation expected....
This morningâs initial jobless claims came in at 264k vs. 245k expected, marking the highest level since October of 2021, further supporting the notion that the Federal Reserve is seeing what they need to pause rate hikes going forward. Equity indices are mixed following this morningâs data, with the S&P 500 declining 0.23% and the Nasdaq 100 rising 0.26%. Crypto markets are underperforming compared to equities, with BTC -2.68% (-1.51%) and...
Crypto prices rebounded today after a cooler-than-expected CPI print of 4.9% (vs. an expected 5.0%). The index for shelter was the largest contributor to the CPI increase, followed by increases in the index for used cars and trucks and the index for gasoline. At the time of writing, BTC -2.68% is up 2.03%, and ETH -2.16% is up 1.71%. After declining for the past few weeks and erasing much of their 2023...
Binance Adds Support for Ordinals NFTs, Goldman Sachs Crypto Survey Reveals Mixed Results
Equity markets slid lower today as investors await CPI data tomorrow and discussion over the debt ceiling later today. SPX and QQQ are trading at -0.4% and -0.6% relative to yesterday's close after opening lower, whilst DXY and US10Y are up by 0.3% and 0.4% on the day. Digital asset markets are also following suit, with BTC -2.68% and ETH -2.16% sliding by 1.5% and 1.0% over the past day. Many have pointed...
