Everything web3, crypto, defi, degen
In brief Beth Hammack, president of the Cleveland Federal Reserve, said she’s not seeing any signs of a weakening economy that urgently needs rate cuts. Traders have grown less convinced that the Fed will cut rates in September over the past week, penciling in a 74% chance on Thursday. Fed Chair Jerome Powell’s speech could…
In brief A long-dormant Bitcoin whale, inactive for seven years, has reawakened to sell a portion of its Bitcoin holdings. The investor used the proceeds to open massive leveraged long positions on Ethereum, a move experts view as a strategic bet on ETH’s future growth. This rare transfer could increase market volatility, but analysts believe…
In brief Options data indicates that Bitcoin traders are split, with nearly equal bullish and bearish block trades. Experts suggest markets will be closely watching for Powell’s tone if there’s no clear decision surrounding rate cuts. They also said crypto’s bullish market structure remains intact in the long term. Bitcoin traders are entering a high-stakes…
In brief Bitcoin and Ethereum dipped briefly before climbing after Fed minutes shed light on why two Fed governors favored an interest rate cut at the July meeting. BTC was trading above $114,250 while ETH was just below to $4,350 following the minutes release. Fed Governors Waller and Bowman dissented, marking the first time two…
In brief Crypto equities have largely underperformed Bitcoin and Ethereum over the past month. Top stocks like MSTR and COIN rebounded Wednesday after starting the day in the red. Recent crypto IPOs and digital asset treasuries have been red over the last week too. Shares in leading publicly traded crypto companies and digital asset treasuries…
In brief Binance will move its USDT yield product onto the Plasma network once mainnet launches, estimated for September. Users will be able to earn 2% APR on their USDT stablecoin holdings, as well as earn a slice of the soon-to-launch XPL token. Codenamed “Taylor Swift,” the partnership’s details were kept under lock and key…
In brief Bitcoin ETFs recorded $645 million in outflows across two days, with Fidelity’s FBTC leading redemptions Tuesday at $246.9 million. Analysts attributed the outflows to investors de-risking ahead of Fed Chair Powell’s Jackson Hole speech. The selloff reverses a $4.7 billion inflow streak from mid-July to early August, though analysts characterize the movement as…
In brief Markets slid further on Tuesday, with equities and other risk assets falling ahead of jobs and economic data. Bitcoin was recently down 3.5% as investors awaited incoming economic data and remarks by Fed Chair Jerome Powell. Ethereum also continued its retreat after nearly hitting a record high last week. Bitcoin sank below $113,000…
In brief SharpLink Gaming added $601 million in ETH to its treasury last week. The Ethereum-focused firm purchased 143,593 ETH at $4,648 between August 10 and August 15. The buy marks its largets ETH purchase in the past month. SharpLink Gaming purchased $601.5 million Ethereum last week, its largest ETH buy over the past month,…
In brief Wyoming’s Frontier Stable Token debuted on seven networks, including Ethereum, Solana, and Avalanche. The token could offer a yield in the future, while funding local education. It could theoretically be issued on more than 110 networks through LayerZero. Wyoming’s stablecoin debuted across seven blockchains on Tuesday, a new milestone for the Cowboy State…
