Crypto Research
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Crypto markets are up today, with majors rising slightly and altcoins showing the highest returns. BTC continues to hover around the $30k level, trading at $29.9K and up 0.44% at the time of writing. ETH 4.08% has risen 0.22%, trading at 1.9k. Altcoins are a mixed bag today, with some of them declining and others up significantly. One of the standouts is Ethereum Layer 2 Optimism (OP), which has risen 11.04%...
Despite underwhelming retail sales data, positive earnings reports are driving equity markets upward. The increase in advance retail sales for June was a mere 0.2% month-over-month, falling below economists' predicted 0.5% increase. Nevertheless, the QQQ index has seen a 60 bps rise, and the SPX index a 52 bps increase. Cryptoassets are diverging from equities, not mirroring the rally spurred by solid earnings. At present, most cryptoassets are on a...
Equities markets open marginally higher after inflation data last week showed a slowdown in price increases, fueling hopes that the Fed can achieve price stability without triggering a recession. ^SPX 1.58% and QQQ 1.61% are up 0.2% and 0.4%, respectively, with earnings season to roll through further this week. Despite last week's encouraging developments on the court's ruling against Ripple, the digital asset market has retraced most of its gains since Wednesday....
After Ripple's victory over the SEC yesterday, token prices experienced a rapid increase, with XRP surging by 65% in the past 24 hours, making it the fourth largest token. BTC is up 1.1% while ETH 4.08% gained 2.1%. Tokens alleged to be securities by the SEC, like MATIC, ADA, and SOL -1.12% , have outperformed, with gains ranging from 20% to 30%. In addition, Coinbase's stock (COIN 5.30% ) saw a significant jump of 24%...
Crypto markets are sharply rising after a judge has ruled that Rippleâs sales of XRP do not constitute an offer of investment contracts. XRP is up 35% following the announcement, and BTC (+2.41%) has surpassed $31k and ETH 4.08% (+3.46%) is nearing $1,950. MATIC (+9.80%) is outperforming today after a proposal was submitted to make MATIC a multipurpose token used to validate multiple blockchains. The proposal would have the token rebranded...
Crypto markets had a volatile morning, initially rallying off a cooler-than-expected CPI print of 0.2% (est. 0.295%) and Core CPI of 0.2% (est: 0.3%). According to data from the Bureau of Labor Statistics, this is the slowest rate in more than two years. Shortly after the CPI release, an on-chain wallet of the US Government containing bitcoin from the Silk Road Hack was seen transferring 9,000 Bitcoin, potentially to sell it....
BTC is once again testing the $31k mark, while ETH 4.08% inches towards $1.9k, reflecting a general rise in most large cap assets today. SOL -1.12% continues to show relative strength, moving above $22 on the day, a rise potentially attributable to improving DeFi user data. DeFi 1.0 coins, such as COMP 1.50% and AAVE, are outperforming the majors, suggesting continued momentum within the DeFi sector. Today's standout performer in the broader crypto...
THE PROBABILITY OF ETF APPROVAL As emphasized in previous notes, we view BlackRock's application for a spot ETF as substantial. Regardless of whether an actual spot ETF garners approval in the near term, its “narrative” significance is undeniable. _YET, OUR FUNDAMENTAL ASSUMPTION IS THAT THIS APPLICATION INDICATES NEW UNDISCLOSED INSIGHTS THAT LARRY FINK AND HIS COLLEAGUES ARE PRIVY TO, WHICH THE PUBLIC MAY NOT BE, AND THEIR APPLICATION WILL ULTIMATELY...
Equity indices are relatively flat to start this weekâs trading, with the SPY 1.58% gaining 0.11% and QQQ 1.61% declining 0.21%. Small-cap technology stocks are outperforming today as the Nasdaq 100 has announced a âspecial rebalanceâ effective July 24th due to an overconcentration in the index. The rebalance will not add or remove any securities from the index and will redistribute the weightings. Crypto markets are showing minor gains, with both BTC...
