Crypto Research
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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 0.15% and QQQ 0.08% 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 and ETH sliding by 1.5% and 1.0% over the past day. Many have pointed...
WHAT ARE ORDINALS? Ordinals, commonly called “Bitcoin NFTs,” have been one of the most exciting developments in the Bitcoin ecosystem this year. Technically, Ordinals are a way of attaching or “inscribing” data to individual sats or satoshis (the smallest unit of a Bitcoin at 1/100,000,000) on the Bitcoin blockchain. The term “Ordinal” is derived from Ordinal Theory, a recently developed system for numbering sats in the order they are mined....
Interest rates experienced a slight increase this morning, with the US 2Y and US 10Y inching higher by 5 bps while the DXY stayed relatively stable. Major equity indices, including the SPX and QQQ, maintained their ground, remaining flat thus far today. Cryptoassets, on the other hand, faced a decline in the past 24 hours, with BTC dropping 2% and falling below the $28k mark and ETH decreasing by 30...
LOOKS LIKE A PAUSE The Federal Reserve approved its 10th interest rate increase in just over a year, raising the Fed funds rate by 0.25 percentage points to a target range of 5%-5.25%. Many interpreted the Fed's comments as signaling a potential pause in the tightening cycle, mainly due to the removal of a sentence in the post-meeting statement. The statement no longer mentioned that "the Committee anticipates that some...
Stocks and crypto are rising today as regional bank shares stabilize. BTC is up 2.0%, and the S&P gained 1.3% after Appleâs beat on earnings and improved sentiment on regional bank stocks. A note from JP Morgan upgraded Western Alliance, Zions Bancorp, and Comerica to overweight, stating all three looked âsubstantially mispriced.â Regional banking ETF, KRE 0.59% , is up 4.66% at writing. Among the largest 100 cryptos, the top performers were...
Traditional equity indices are under pressure today following yesterdayâs 25bps interest rate hike and additional regional bank weakness. The SPY 0.15% (-0.72%) and QQQ 0.08% (-0.31%) are approaching last weekâs lows, while the DXY (+0.33%) is rising after Fed Chair Powell reiterated his stance that the inflation fight is far from over. BTC and ETH are in line with equities today, falling 0.66% and 0.87%, respectively. Meme coin PEPE has skeptics shaking...
Prices slid lower this morning ahead of the Fed's FOMC meeting at 2 pm ET before bouncing back after the Fed's interest rate decision of 25bps was released. Bitcoin and Ethereum are up 0.23% and 0.82%, respectively, while most altcoins are down. ARB 0.05% is down 1.69%, SOL 1.08% is down 2.13%, and LDO is down 3.72%. An exception to this is Bitcoin layer 2 blockchain, STX -1.72% , which is up 5.28% as...
BTC has rebounded 1.2% while stocks fell due to weakness in the banking sector. The S&P is down 1.68%, and the Nasdaq fell 1.45%. While JP Morganâs takeover rescued First Republic, fear has spread to other regional banks. Shares of PacWest, Western Alliance, and Metropolitan Bank all had trading paused after falling over 20% this morning. Gold moved 1.4% higher while the VIX jumped to over 19, 20% higher than...
Block Completes Design for ASIC Chip and New Memecoin Enters Top 100 Largest Coins by Market Cap
Crypto had a choppy weekend, which concluded in prices falling last night. At the time of writing, BTC is down 3.68%, and ETH is down 2.15%. Altcoins were also down across the board, SOL 1.08% is down 4.75%, and ARB 0.05% is down 3.66%. An exception to this market correction is a new meme coin called PEPE which has rapidly made its way into the top 100 coins by market cap. PEPE...
