Tag:

U.S

MNT, HASH Shine as Majors Await U.S. Inflation Report
Crypto Trends

MNT, HASH Shine as Majors Await U.S. Inflation Report

by admin



As crypto majors, including bitcoin BTC$114,327.98, await the U.S. CPI data, smaller coins like PUMP, AVAX and MNT have advanced 8%-11% in the past 24 hours. The biggest gainer among the top 100 tokens is Provenance Blockchain’s HASH token, which has surged 28%.

On Tuesday, the Provenance Blockchain Foundation announced a model that will help maintain network balance by adjusting inflation rates dynamically based on ongoing conditions.

This approach protects stakers by preventing dilution of their holdings, ensuring their investments retain value over time. It also offers extra rewards that create a genuine alignment of incentives between users and the blockchain, fostering long-term commitment and healthy network growth, the foundation explained on X.

Market gains may accelerate if the CPI prints below estimates, strengthening the chance of a Federal Reserve rate cut.

“If CPI data is dovish and pushes BTC above this level, it could trigger a short squeeze and accelerate a move into the 115,000+ liquidity zone,” analysts at Bitunix said in an email.

“Conversely, if stronger-than-expected inflation drives [the] U.S. Dollar Index (DXY) higher and delays rate-cut expectations, 111,000 will be the first key support, with a potential retest of the 108,500–109,000 liquidity zone if it breaks.”

Derivatives Positioning

By Omkar Godbole

  • Open interest (OI) in BTC futures and perpetual futures listed worldwide remains elevated at 736K BTC, just short of last month’s record high 748K BTC.
  • In the past 24 hours the tally has remained relatively unchanged, alongside tentative trading in futures tied to altcoins, as traders adopted a cautious stance before today’s critical U.S. CPI report.
  • Volmex’s one-day BTC implied volatility index continues to fluctuate within a months long range of 25% to 50%, indicating that the market is not anticipating significant volatility from the CPI announcement. The index recently stood at 35.50%, suggesting an expected one-day price movement of about 1.85%.
  • Volatility indices linked to ETH, SOL and XRP also remain locked in recent ranges.
  • On the CME, OI in bitcoin futures remains depressed at multimonth lows, while OI in ether continues to recede from recent record highs.
  • Options, however, show the opposite trend. BTC options OI has increased to over 50,000 BTC, the most since April. And ether options OI has jumped to 260K ETH, the highest since August 2024.
  • On Deribit, 25-delta risk reversals continue to exhibit a bias toward put options in bitcoin and ether. Flows on OTC desk Paradigm continued to lean bearish, with some traders picking up the September expiry $4,000 ETH put.

Token Talk

By Oliver Knight

  • Mantle (MNT) led a wider altcoin jump on Thursday, rising to a record high of $1.62 on the back of significant volume on derivatives exchange Bybit.
  • The native token of its namesake’s layer-2 network is primarily a governance token, but is also widely staked as investors look to secure a yield on their holdings.
  • The annualized return of staking MNT on Coinbase stands at 71%, far more than the 1.86% return holders get for staking ether (ETH) on the same platform.
  • This has led to more than two thirds of MNT’s total supply being staked, resulting in a lack of supply on exchanges amid a wave of demand.
  • Trading volume on Bybit hit $195 million over the past 24 hours, an 83% rise on the previous 24 hours.
  • Open interest is also up 20%, outpacing the 15% gain in price, which can be attributed to traders opening new leveraged positions to bet on further upside.
  • The new record high price could pave the way for other altcoins to rally too.
  • The “altcoin season” index rose to 67/100 on Thursday, demonstrating trader preference to trade more speculative and lower liquidity assets like MNT as opposed to crypto majors BTC and ETH.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Kraken brings tokenized U.S. stocks to the EU via xStocks
Crypto Trends

Kraken brings tokenized U.S. stocks to the EU via xStocks

by admin



Kraken users based in the EU can now gain access to tokenized U.S. stocks and ETFs on-chain through the release of xStocks. The offerings are powered by Backed.

Summary

  • Kraken has expanded access to xStocks for traders based in the EU.
  • EU investors will gain access to more than 60 U.S. tokenized stocks and ETFs.

Kraken’s EU-based clients can now trade tokenized U.S. stocks and Exchange Traded Funds or ETFs as part of the global phased roll-out of xStocks. The expansion builds upon a recent phased launch of over 60 tokenized assets available across more than 140 countries.

This means that EU investors will be able to trade stocks like Tesla, NVIDIA, Strategy, Circle, Google, Apple and more through the Kraken app.

Powered by Backed, xStocks are tokenized stocks on a blockchain that represent shares of traditional companies or ETFs. They are backed 1:1 by the underlying shares held by a custodian and designed to mirror the value of traditional stocks.

The on-chain product offers benefits like around-the-clock trading, global accessibility, fractional ownership, and integration with Decentralized Finance protocols, without the need for traditional brokerage account. In fact, EU traders can immediately access xStocks through the Kraken app.

Historically, traders in the EU attempting to gain exposure to U.S. markets often face hurdles that make it difficult to participate. With traditional markets, EU investors are have to deal with limited or partial exposure to U.S. markets, friction from currency rates and cross-border transfers. Moreover, they experience delays due to different market hours as well as difficulty withdrawing and transferring equities between platforms.

By placing U.S. stocks on-chain, Kraken hopes to remove those barriers by offering a flexible and globally accessible way to gain exposure to U.S markets. xStocks can track the price of U.S. equities without the need for traditional brokers or third parties. EU investors can trade in tokenized certificates, enabling them to control assets and move them freely across platforms.

In addition, traders in the EU can use xStocks across DeFi protocols in the form of financial building blocks. Unlike traditional markets that are restricted by the operational hours, xStocks are available for 24 hours within the five weekdays on Kraken.

Kraken’s xStocks offering

Initially, xStocks were first deployed as SPL tokens on the Solana blockchain. Now, Kraken claims that it has plans to expand xStocks token support to include BEP-20 on the Ethereum mainnet. Users will be granted the choice to either interact with xStocks through Solana (SOL) or Ethereum (ETH).

Overtime, Kraken plans to expand support for xStocks by integrating with more blockchains, including Ink and other chains in the future.

Kraken’s Global Head of Consumer, Mark Greenberg, called expanding access to xStocks for customers in the European Union as a “natural next step” for the platform because of its established presence there.

“For too long, it’s been unnecessarily challenging to gain exposure to U.S. markets, and with xStocks we’re removing many of the barriers,” said Greenberg.

Scatter plot chart for xStocks measured Assets Under Management | Source: Dune Analytics

According to data from Dune analytics, xStocks has reached more than $3.6 billion in cumulative trading volume since its launch on June 30 this year. This figure accounts for volumes across centralized and decentralized exchanges, including Raydium and Kraken.

So far, the largest share of volume comes from TSLAx, NVDAx, MSTRx and CRCLx, tracking tracking Tesla, NVIDIA and Circle stocks respectively.

Most recently, xStocks made up roughly 58% of all tokenized stock trading in mid-August this year. In fact, Solana alone held a majority share of the xStocks market value at $46 million out of $86 million, as reported by crypto.news.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Micron
Gaming Gear

U.S. government considers annual permits for Samsung and SK hynix to supply equipment to their Chinese fabs

by admin



The U.S. government is apparently mulling over the decision to replace indefinite wafer fab equipment export permissions for Samsung and SK hynix’s with annual licenses. The decision will add significant regulatory complexity, but will at least maintain continuity for fab operations, which means no disruption to the highly-volatile global supply of DRAM and NAND memory, reports Bloomberg.

Previously, Samsung and SK hynix operated under validated end-user (VEU) status, which granted them blanket approval to import restricted wafer fab equipment (WFE) to their Chinese fabs based on upfront compliance with U.S. security and monitoring measures, which greatly streamlined their operations. Those permissions are set to expire at the end of this year.


You may like



Source link

0 comments
0 FacebookTwitterPinterestEmail
CHONGQING, CHINA - DECEMBER 29: In this photo illustration, a person holds a smartphone displaying the logo of “Claude,” an AI language model by Anthropic, with the company’s logo visible in the background, illustrating the rapid development and adoption of generative AI technologies, on December 29, 2024 in Chongqing, China. Artificial Intelligence (AI) has become a cornerstone of China’s strategic ambitions, with the government aiming to establish the country as a global leader in AI by 2030.
Gaming Gear

Anthropic agrees to pay $1.5 billion to authors whose work trained AI in priciest copyright settlement in U.S. history

by admin



As reported by the New York Times, AI company Anthropic has agreed to a $1.5 billion settlement in a groundbreaking copyright lawsuit involving some 500,000 authors. Anthropic illegally downloaded the authors’ books and used them to train its AI model. The total settlement for this case is the largest for any copyright case in U.S. history, although the payout to each affected author is only $3,000.

The lawsuit, filed in August 2024, accused Anthropic of benefiting from pirated copyrighted books, stating, “An essential component of Anthropic’s business model—and its flagship ‘Claude’ family of large language models (or “LLMs”)—is the largescale theft of copyrighted works.”

It goes on to highlight the harm being done to authors, which goes beyond the theft of their work: “Anthropic’s Claude LLMs compromise authors’ ability to make a living, in that the LLMs allow anyone to generate—automatically and freely (or very cheaply)—texts that writers would otherwise be paid to create and sell. Anthropic’s LLMs, which dilute the commercial market for Plaintiffs’ and the Class’s works, were created without paying writers a cent. Anthropic’s immense success is a direct result of its copyright infringement.”


Related articles

As a result of that copyright infringement, Anthropic has offered to pay $1.5 billion to settle the class action lawsuit before it goes to trial. This case sets a standard for the growing wave of copyright lawsuits against AI companies, but it isn’t as clear-cut as it might look. Judge William Alsup of the Northern District of California ruled that Anthropic is allowed to use copyrighted books to train its AI models if it obtains those books legally. The settlement is the result of pirating the books, not feeding them to an AI, which has been ruled “fair use.”

Additionally, the settlement Anthropic offered is a historically high sum, but it’s a miniscule bit of the company’s overall value, which sits at $183 billion at the time of writing. Earlier this week, Anthropic raised more money in a single round of funding than the entire settlement in this copyright case. Meanwhile, the $3,000 for each author impacted by the class action lawsuit is less than a typical book’s advance.

It’s also worth noting that $1.5 billion is actually far less than Anthropic could have potentially been ordered to pay if it hadn’t settled. Willful copyright infringement can result in fines of up to $150,000 per copyrighted work. The pirated data sets Anthropic used contained 7 million books. If Anthropic had been forced to pay the maximum amount for each count of copyright infringement, it could have been financial ruin for the AI company. Of course, the maximum possible fine would have been unlikely, but Anthropic still might have had to pay much more than it settled for.

This lawsuit against Anthropic is just one of several like it. Authors also have ongoing lawsuits with other AI companies, including Microsoft and OpenAI. Back in June, authors lost a similar lawsuit against Meta, but only because the judge ruled that they hadn’t offered enough evidence, stating, “This ruling does not stand for the proposition that Meta’s use of copyrighted materials to train its language models is lawful.”



Source link

0 comments
0 FacebookTwitterPinterestEmail
SEC Chair Paul Atkins (Anna Moneymaker/Getty Images)
GameFi Guides

Legislation Steering U.S. Fate of Crypto Emerges in New Version in Senate

by admin



The U.S. Senate’s work on the crypto industry’s top policy priority — a bill to establish the regulatory workings of crypto markets in the U.S. — advanced further on Friday with the private circulation of a new draft bill that further outlines protections for crypto developers, bankruptcy guidelines for some digital asset issuers and how federal regulators can support tokenization in financial markets.

Despite the big lobbying win this year in which the U.S. House of Representatives passed the Digital Asset Market Clarity Act that represents one approach to setting crypto market structure, the House’s work has represented only a broad jumping-off point for the Senate, which is pursuing its own version that is expected to take the lead as the policy most likely to be enacted.

The much lengthier new version obtained by CoinDesk would establish legal protections for those “developing, publishing, constituting, administering, maintaining or otherwise distributing” a distributed ledger system or a “decentralized finance messaging system.”

The new market structure draft from Senate Banking has the best developer protections language we have seen to date. Still digging into the rest of the bill, but this is worth celebrating immediately.

Could not be more thrilled to see @BankingGOP include an amendment to Section… pic.twitter.com/MufkAfOgpQ

— Amanda Tuminelli (@amandatums) September 5, 2025

The new draft also includes a section on bankruptcy, amending existing law to account for “ancillary assets” and clarifying that during bankruptcy procedures, ancillary assets and digital commodities should be treated as customer property.

The bill’s authors want the SEC and CFTC to conduct a joint study on tokenizing securities and other real-world assets with the aim of developing standards for how third-party custodians can handle tokenized assets, as well as what standards should exist for those tokenized assets. Following the study, the agencies could go through the rulemaking process for “tailored regulatory pathways” if needed.

Tokenized securities are still to be treated as securities, while tokenized real-world assets that aren’t securities should not be treated as securities because they’re tokenized, the bill said.

Though the bill is now circulating, it’s not yet clear whether this version pushed by key Republicans in the Senate Banking Committee will win support from their Democratic counterparts, or from the Senate Agriculture Committee that also must get behind the legislative effort.

While the House’s Clarity Act did clear its 308-122 vote with very wide bipartisan support, the Senate’s requirement for 60 votes puts a higher technical demand on Republican leaders there to win several Democrat votes. When the Senate’s previous major crypto undertaking, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, arrived for House consideration, President Donald Trump urged that chamber to pass it as-is rather than putting its own stamp on the language.

That’s what happened, with the Senate’s take on stablecoins becoming law, marking the biggest U.S. policy accomplishment for the industry so far.

Though the two chambers’ separate market-structure efforts are broadly similar, some significant differences have emerged, including in how a crypto asset can transition from a security to a commodity. That’s one of the core questions as the center of the legislation, working out which agency may have oversight authority for specific approaches to digital assets. Uncertainty remains over the timing of the Senate’s work. Trump had originally said he wanted it done by August — a deadline that is now in the rearview. Senate Banking Committee Chairman Tim Scott, a South Carolina Republican, had later set a Sept. 30 target and repeatedly claimed it could be met. While Senator Cynthia Lummis, the Wyoming Republican who runs the panel’s crypto subcommittee, had agreed with Scott’s plan, she later said Trump can sign it by Thanksgiving.

The Senate has this week returned from its August break. Congress faces a full plate with budget demands and other matters, but crypto has remained among its leading priorities — and the one that’s consistently drawing major support from both parties. Before now, the Senate Banking Committee had first released some broad priorities for the market structure bill, held a hearing on the topic and then put out a discussion draft in July to gather thoughts from interested parties.

This latest, full version of the bill represents another step toward passage. It could next get what’s known as a markup hearing in which senators may be permitted to amend the legislation, then a Senate floor vote in which it’ll need 60 votes to advance. To win Democratic backing, this version would almost certainly be further revised with those lawmakers’ proposals.

Before any bill can become a law, matching legislation must pass both the Senate and House. So, if this bill eventually clears the Senate, the House then gets its vote, and judging by the margin by which the Clarity Act passed, it’s likely to clear that hurdle easily.

UPDATE (Sept. 5, 2025, 22:23 UTC): Adds detail on tokenization.





Source link

0 comments
0 FacebookTwitterPinterestEmail
ECB President Christine Lagarde (Alexandros Michailidis/Shutterstock)
GameFi Guides

U.S. CFTC Gives Go-Ahead For Polymarket’s New Exchange, QCX

by admin



The U.S. Commodity Futures Trading Commission has freed up prediction market firm Polymarket’s QCX acquisition from certain disclosure and data requirements as the company moves forward in its U.S. business offerings.

QCX, which got its license to start operations in July before it was snatched up later that month by Polymarket, has been granted a “no-action letter” from the CFTC, allowing it to operate in specifically defined ways without drawing enforcement attention. The firm was acquired by Polymarket in hopes of its official return to U.S. business, which it was forced to abandon in 2022 under direction from the regulator.

Polymarket has since emerged from earlier federal investigative interest as the U.S. government has eased its tense relationship with this sector, and companies — also including rival Kalshi — have been given more free rein. The field, as a result, has begun to explode in visibility and usage.

Wednesday’s decision from two relevant divisions within the CFTC — at the staff level and not a commission ruling — “is similar to previous no-action positions taken with respect to reporting certain binary options transactions and similar transactions,” the agency noted. The letter doesn’t explicitly address prediction markets, but it notes its position on the “recordkeeping regulations for event contracts.”

Though he hasn’t been confirmed by the U.S. Senate, yet, President Donald Trump’s nominee to run the CFTC, former Commissioner Brian Quintenz, has close ties to Kalshi as a board member and told lawmakers that the binary event contracts offered at such firms are appropriate “hedging tools.” Even without his arrival, the agency has been taking a friendlier stance, with Acting Chairman Caroline Pham saying the CFTC has let itself get bogged down in a “sinkhole of legal uncertainty” as it pursued legal cases against the industry.

Read More: Robinhood Partners With Kalshi to Launch NFL and College Football Prediction Markets



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
Crypto Trends

Billionaire Ray Dalio Links Bitcoin’s Rise to ‘Debt-Fueled Heart Attack’ in U.S.

by admin



In brief

  • Ray Dalio said the U.S. is risking a “debt-fueled heart attack”
  • The value of money would be negatively affected if the Federal Reserve is eventually forced to intervene in the bond market.
  • He compared digital assets to hard currencies.

The U.S. economy is staring down a debt-fueled heart attack within the next few years, but that will likely buoy cryptocurrency prices, according to veteran asset manager Ray Dalio.

In an interview with the Financial Times, the Bridgewater Associates founder linked a rise in the price of digital assets and gold to America’s overwhelming debt burden, which isn’t improving, according to a transcript of the conversation that he posted to X on Wednesday.

The U.S. government is spending more money than it’s taking in, while servicing enormous amounts of debt. And as the government borrows more to cover budget shortfalls, while managing its existing burden, creditors could eventually cause trouble, Dalio said.



Creditors will sell U.S. debt as they grow worried about its ability to function as a store of value, he said. That will likely put the Federal Reserve in a tough position, Dalio added, where it has to decide between rising interest rates and a debt default crisis or printing money to buy debt and “try to hold real interest rates down, which will lower the value of money.”

The billionaire, who foresaw the 2008 financial meltdown, described it as the “traumatic last phase” of a “big debt cycle,” where over the course of history, excessive debt has culminated in an economic contraction and systematic crisis.

To that point, Dalio said that deregulation isn’t a threat to governments’ use of fiat currencies in stabilizing economies or facilitating international trade. It is rather unhealthy debt levels, he said, that are eroding the status of currencies like the greenback across several sovereigns.

“I do see the dollar and the other reserve currency governments’ bad debt situations as threatening to their appeals as reserve currencies and storeholds of wealth, which is what has been contributing to the rises in gold and cryptocurrency prices,” he said.

Bitcoin and gold have surged this year. The precious metal’s price has increased 38% year-to-date, hitting an all-time high of $3,530 per ounce Wednesday, according to Trading Economics. Bitcoin’s price has increased 20% to $112,000 over the same period, according to crypto data provider CoinGecko.

Dalio’s latest assessment of the U.S. economy follows the passage of the GENIUS Act, a federal framework for stablecoins. Dalio said that a decline in the purchasing power of U.S. Treasuries “shouldn’t produce any systematic risk” for them, if they are well regulated.

Dalio said cryptocurrencies resemble hard currencies, partly due to their so-called tokenomics. Bitcoin’s total supply, for example, is capped at 21 million, while the government can theoretically print an unlimited amount of money.

“Crypto is now an alternative currency that has its supply limited, so, all things being equal, if the supply of dollar money rises and/or the demand for it falls, that would likely make crypto an attractive alternative currency,” he said.

In late July, Dalio urged investors to allocate 15% of their portfolios to Bitcoin and gold. It’s a macroeconomic hedge amid increasing risks in bond and equity markets, he said.

Dalio expressed a preference for gold, arguing that a central bank is unlikely to adopt the leading cryptocurrency by market capitalization as a reserve currency. Still, the outlook for some fiat currencies is bleak, he said in the interview with the Financial Times.

“I think that most fiat currencies, especially those with large debts, will have problems being effective storeholds of wealth and will go down in value relative to hard currencies,” he said, pointing to parallels between the coming years and two periods in the 20th century.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
BTC Treads Water, Gold Extends Gain as U.S. Jobs Data Looms: Crypto Daybook Americas
Crypto Trends

BTC Treads Water, Gold Extends Gain as U.S. Jobs Data Looms: Crypto Daybook Americas

by admin



By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin BTC$111,487.44 rose just 0.6% in the last 24 hours, while the wider market as measured by the CoinDesk 20 (CD20) Index added 0.4%. The gain is overshadowed by gold’s increase and a major government bond sell-off.

The precious metal broke through $3,500 per ounce for the first time on Wednesday, helping the tokenized gold market to top $2.5 billion in value as growing bets see the Federal Reserve cutting rates this month. Gold’s advance comes as investors are wary of swelling government debt, prompting a sell-off in long-dated government bonds.

The yield on Japan’s 30-year government bond rose to a record 3.28% following similar moves in the U.S. and U.K. The U.S. 30-year Treasury yield neared 5%, while British gilts reached levels not seen since 1998, at 5.7%.

The turmoil hasn’t added fuel to the crypto market, whose price action remains muted. Deribit’s bitcoin volatility index (DVOL) is now at 38.1, its lowest level since late 2023, while capital is seemingly rotating into ether (ETH).

While spot bitcoin ETFs saw $751 million in net outflows last month, spot ether ETFs brought in a net $3.87 billion. That rotation is also being seen on-chain.

Meanwhile, a joint statement from the SEC and CFTC clarified rules for compliant spot crypto trading in the agencies’ latest effort to clear a way forward for crypto in the U.S.

The statement failed to jolt the crypto market, seemingly as investors await Friday’s U.S. jobs report. A soft reading could nudge the Federal Reserve closer to lowering rates, which would boost the market and other risk assets.

A hotter-than-expected figure, however, could damp sentiment. September has historically been a negative month for the sector, with bitcoin recording a drop of 3.29% on average for the month according to CoinGlass data. Stay alert!

What to Watch

  • Crypto
    • Sept. 3: First day of regular-hours trading on Nasdaq for American Bitcoin (ABTC). The company, backed by Eric Trump and Donald Trump Jr., was formed through a reverse merger with Gryphon Digital Mining and listed after market close on Sept. 2.
    • Sept. 3, 10:15 a.m.: Tellor (TRB), a decentralized oracle network that operates as an Ethereum layer-2 blockchain, will upgrade its mainnet to version 5.1.1. The upgrade improves network performance and node operation.
    • Sept. 4: Polygon will switch its mainnet token to POL from MATIC. Holders of MATIC on Ethereum, Polygon zkEVM or centralized exchanges may need to take action.
    • Sept. 10, 9:15 a.m.: Comptroller of the Currency Jonathan V. Gould will talk about digital assets at the CoinDesk: Policy & Regulation Conference in Washington.
  • Macro
    • Sept. 3, 8 a.m.: Brazil’s Institute of Geography and Statistics (IBGE) releases July industrial production data.
      • Industrial Production MoM Est. -0.3% vs. Prev. 0.1%
      • Industrial Production YoY Est. 0.2% vs. Prev. -1.3%
    • Sept. 3, 9 a.m.: S&P Global releases August Brazil data on manufacturing and services activity.
      • Composite PMI Prev. 46.6
      • Services PMI Prev. 46.3
    • Sept. 3, 10 a.m.: The U.S. Bureau of Labor Statistics releases July labor market data (the JOLTS report).
      • Job Openings Est. 7.4M vs. Prev. 7.437M
      • Job Quits Prev. 3.142M
    • Sept. 4, 8:15 a.m.: Automatic Data Processing (ADP) releases August U.S. private-sector employment data.
      • Employment Change Est. 68K vs. Prev. 104K
    • Sept. 4, 9:30 a.m.: S&P Global releases August Canada data on manufacturing and services activity.
      • Composite PMI Prev. 48.7
      • Services PMI Prev. 49.3
    • Sept. 4, 9:45 a.m.: S&P Global releases (final) August U.S. data on manufacturing and services activity.
      • Composite PMI Est. 55.4 vs. Prev. 55.1
      • Services PMI Est. 55.4 vs. Prev. 55.7
    • Sept. 4, 10 a.m.: The Institute for Supply Management (ISM) releases August U.S. services sector data.
      • Services PMI Est. Est. 51 vs. Prev. 50.1
    • Sept. 4, 1 p.m.: Uruguay’s National Institute of Statistics releases August inflation data.
      • Inflation Rate YoY Prev. 4.53%
    • Sept. 4, 3 p.m.: Colombia’s National Administrative Department of Statistics (DANE) releases August producer price inflation data.
  • Earnings (Estimates based on FactSet data)
    • Sept. 9: GameStop (GME), post-market

Token Events

  • Governance votes & calls
    • Arbitrum DAO is voting on upgrading Arbitrum One and Nova to ArbOS 50 Dia, adding support for Ethereum’s Fusaka fork, new EIPs, bug fixes and a native mint/burn feature (for Orbit chains only). Voting ends Sept. 4.
    • Uniswap DAO is voting on deploying Uniswap v3 on Ronin with $1M in RON and $500K in UNI incentives to make it the chain’s primary decentralized exchange. Voting ends Sept. 6.
    • Lido DAO is voting on a proposal to migrate Nethermind’s ~7,000 Ethereum validators to infrastructure operated by Twinstake, a staking provider co-founded by Nethermind. Voting ends Sept. 8.
    • Sept. 2, 6 a.m.: Bybit and Centrifuge to host an ask me anything (AMA) session on X spaces.
    • Sept. 3: Stellar XLM$0.3649 to host vote on Protocol 23 mainnet upgrade.
    • Sept. 3, 10 am: Lido to host a Poolside Community Call.
    • Sept. 3, 10 a.m.: Zebec Network ZBCN$0.004202 to host spaces event on blockchain integrations.
    • Sept. 3, 12:30 p.m.: Aptos APT$4.3209 to host hangout on ecosystem updates.
    • Sept. 4, 10 a.m.: OlympusOHM$131.29 to host community call.
  • Unlocks
    • Sept. 5: Immutable (IMX) to unlock 1.27% of its circulating supply worth $13.26 million.
    • Sept. 11: Aptos APT$4.3209 to unlock 2.2% of its circulating supply worth $48.18 million.
    • Sept. 15: Starknet (STRK) to unlock 5.98% of its circulating supply worth $16.39 million.
    • Sept. 15: Sei SEI$0.2886 to unlock 1.18% of its circulating supply worth $16 million.
    • Sept. 16: Arbitrum ARB$0.5017 to unlock 2.03% of its circulating supply worth $47.15 million.
  • Token Launches
    • Sept. 3: Moonchain (MCH) to be listed on Binance Alpha, MEXC, Gate.io and others.

Conferences

The CoinDesk Policy & Regulation Conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB15 for 15% off your registration.

Token Talk

By Oliver Knight

  • Bitcoin BTC$111,487.44 dominance, a key metric when assessing whether the crypto market is in “altcoin season” has ticked down another notch to around 58%, having been above 61% just 30 days ago.
  • The drop-off demonstrates a change in trader behavior: Typically altcoins perform poorly when BTC enters a downtrend, this time, however, many have held their value while some have outperformed the market’s largest asset.
  • Bitcoin is down by 2.91% in the past 30 days while the likes of ether (ETH) and solana SOL$210.66 are up by 21% and 27.5%, respectively.
  • While the gains have been driven by the adoption of several altcoins in corporate treasuries, they can also be attributed to a recalibration of the entire market.
  • During BTC’s rise to a $124,000 record high last month, the narrative was solely focused on bitcoin and it’s perceived correlation with the well-performing tech sector in equities.
  • It’s worth noting that in previous cycles bitcoin dominance slumped all the way down to 39%, indicating that the altcoin resurgence still has some way to go.
  • However, as liquidity flowed into BTC, several altcoins fell to record lows against bitcoin, leading to a number being “oversold” on technical indicators like relative strength index (RSI).

Derivatives Positioning

  • The total open interest across all perpetual instruments increased overnight to $114 billion, data from Laevitas show.
  • A liquidations heatmap for the BTC-USDT pair on Binance shows that bitcoin is trading between two significant liquidation clusters. Above the current price, a $90 million cluster of liquidations sits around the $112,200 mark. To the downside, the largest cluster is valued at $76.6 million, located around $110,000.
  • According to Deribit options data, the 24-hour BTC put-call volume is 26.4K contracts, with calls accounting for 51.6% of the total. The contract with the highest volume is the $108K strike price put expiring Sept. 26.
  • That’s followed by the call at a strike price of $114K expiring on the same day.
  • The funding rate heatmap on Coinglass remains positive for most assets, indicating a general bullish sentiment. The one exception is TRX, which has a negative funding rate, reflecting a -10.2% APR.

Market Movements

  • BTC is down 0.1% from 4 p.m. ET Tuesday at $111,323.58 (24hrs: +0.92%)
  • ETH is up 0.82% at $4,348.94 (24hrs: -0.89%)
  • CoinDesk 20 is up 0.59% at 4,046.65(24hrs: +1.01%)
  • It’s worth noting that in previous cycles bitcoin dominance slumped all the way down to 39%, indicating that the altcoin resurgence still has some way to go.

Derivatives Positioning

  • DXY is down 0.15% at 98.25
  • Gold futures are up 0.36% at $3,605.20
  • Silver futures are unchanged at $41.62
  • Nikkei 225 closed down 0.88% at 41,938.89
  • Hang Seng closed down 0.6% at 25,343.43
  • FTSE is up 0.43% at 9,155.78
  • Euro Stoxx 50 is up 0.84% at 5,335.46
  • DJIA closed on Tuesday down 0.55% at 45,295.81
  • S&P 500 closed down 0.69% at 6,415.54
  • Nasdaq Composite closed down 0.82% at 21,279.63
  • S&P/TSX Composite closed up 0.18% at 28,615.62
  • S&P 40 Latin America closed down 0.32% at 2,760.02
  • U.S. 10-Year Treasury rate is up 0.2 bps at 4.279%
  • E-mini S&P 500 futures are up 0.46% at 6,454.75
  • E-mini Nasdaq-100 futures are up 0.68% at 23,433.75
  • E-mini Dow Jones Industrial Average Index are unchanged at 45,352.00

Bitcoin Stats

  • BTC Dominance: 58.59% (+0.04%)
  • Ether-bitcoin ratio: 0.0389 (0.01%)
  • Hashrate (seven-day moving average): 1,001 EH/s
  • Hashprice (spot): $54.39
  • Total fees: 4.97 BTC / $548,282
  • CME Futures Open Interest: 133,410 BTC
  • BTC priced in gold: 31.4 oz.
  • BTC vs gold market cap: 8.85%

Technical Analysis

  • PUMP has been one of the strongest tokens in recent days, backed by strong fundamentals such as its buyback program and the recently announced Project Ascend — a series of updates that focuses on growing the Pump.fun ecosystem and infrastructure.
  • After breaking the bearish trendline last week, PUMP has reclaimed the 20-day exponential moving average.
  • Bulls are looking for the token to continue this upward trend and flip the $0.004 level, which has proven to be a tough resistance point over the last month.
  • A successful breakout above this price would signal strong bullish momentum.

Crypto Equities

  • Coinbase Global (COIN): closed on Tuesday at $303.56 (-0.32%), +0.74% at $305.80 in pre-market
  • Circle (CRCL): closed at $120.14 (-8.97%), +2.22% at $122.81
  • Galaxy Digital (GLXY): closed at $24.16 (+2.85%), +0.99% at $24.40
  • Bullish (BLSH): closed at $62.03 (+5.08%), -0.55% at $61.69
  • MARA Holdings (MARA): closed at $16.06 (+0.5%), +0.31% at $16.11
  • Riot Platforms (RIOT): closed at $14.09 (+2.4%), +0.5% at $14.16
  • Core Scientific (CORZ): closed at $14 (-2.44%), unchanged in pre-market
  • CleanSpark (CLSK): closed at $9.64 (+1.8%), +0.1% at $9.65
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $31.64 (+3.33%), +2.84% at $32.54
  • Exodus Movement (EXOD): closed at $24.79 (-1.71%), -1.21% at $24.49

Crypto Treasury Companies

  • Strategy (MSTR): closed at $341.62 (+2.16%), +0.66% at $343.88
  • Semler Scientific (SMLR): closed at $29.37 (-0.91%)
  • SharpLink Gaming (SBET): closed at $16.98 (-4.71%), +0.94% at $17.14
  • Upexi (UPXI): closed at $6.89 (-4.7%), +3.48% at $7.13
  • Mei Pharma (MEIP): closed at $4.85 (-0.21%), +1.44% at $4.92

ETF Flows

Spot BTC ETFs

  • Daily net flows: $332.8 million
  • Cumulative net flows: $54.55 billion
  • Total BTC holdings ~1.29 million

Spot ETH ETFs

  • Daily net flows: -$135.3 million
  • Cumulative net flows: $13.4 billion
  • Total ETH holdings ~6.56 million

Source: Farside Investors

Chart of the Day

  • While BTC futures volumes on the CME exchange fell 17% to $148 billion in August, the ETH futures volume surged by 48% to $123 billion, an all-time high.
  • The trading volume of SOL futures and XRP futures also surged to records, rising 41% and 51% to $8.60 billion and $7.32 billion, respectively.
  • The figures highlight the heightened institutional interest in altcoins in recent weeks.

While You Were Sleeping

In the Ether



Source link

0 comments
0 FacebookTwitterPinterestEmail
Ethereum blockchain symbol abstract crystal
Crypto Trends

U.S. SEC, CFTC Combine Forces to Clear Registered Firms’ Trading of Spot Crypto

by admin



Certain crypto assets can change hands with a stamp of approval from both of the U.S. markets regulators, according to a joint statement from the Securities and Exchange Commission and the Commodity Futures Trading Commission, which said that today’s registered trading platforms can do that business with the agencies’ blessing.

In a stark shift from the hesitant, risk-averse stance of the previous administration, the regulators appointed by President Donald Trump — an avowed advocate of the industry and a growing crypto magnate though his family’s business operations — have quickly cleared a wide path for digital assets to get into the existing financial regulator system.

The SEC, until last year run by crypto skeptic Gary Gensler, and the CFTC “are coordinating efforts to facilitate the trading of certain spot crypto asset products on registered exchanges,” according to the Tuesday statement. Under the SEC’s “Project Crypto” and the CFTC’s ongoing “crypto sprint,” their leaders are pushing to meet Trump’s orders to set up the U.S. as the world’s leading crypto hub.

The agencies argue their view that CFTC-registered designated contract markets (DCMs), foreign board of trade (FBOTs) and SEC-registered national securities exchanges (NSEs) “are not prohibited from facilitating the trading of certain spot crypto asset products.” The SEC and CFTC are inviting such entities to contact staff to figure out how to move forward.

“Market participants should have the freedom to choose where they trade spot crypto assets,” said SEC Chairman Paul Atkins, in a statement.

His counterpart at the CFTC, Acting Chairman Caroline Pham, called the joint statement “the latest demonstration of our mutual objective of supporting growth and development in these markets, but it will not be the last.”

The Tuesday statement didn’t detail specific cryptocurrencies beyond citing “certain spot crypto asset products.”

The markets watchdogs said they “are prepared to engage with trading venues about applying fair and orderly market principles as they seek to operate markets for participants to trade spot crypto asset products.”

As the agencies seek to use existing regulations and authorities to open the financial system to crypto, Congress has been working on a sweeping set of crypto market rules that the industry is counting on to fully establish it in the U.S. It’s unclear, though, how long the lawmakers might take getting that legislation to Trump’s desk.

One of the main holes in previous U.S. oversight of crypto has been the CFTC’s lack of authority to fully regulate firms trading on the crypto commodity spot market — where actual assets are directly changing hands.

Read More: Trump’s SEC Chair Says Agency Is ‘Mobilizing’ to Update Custody, Other Guidance



Source link

0 comments
0 FacebookTwitterPinterestEmail
A gold bar (Scottsdale mint/Unsplash)
Crypto Trends

BNB Slips Below $860 as Resistance Holds and Traders Brace for U.S. Jobs Data

by admin



The price of BNB saw sharp intraday swings over the past 24-hour period as it continued to drop from an all-time high of $900 seen late last month.

Over a 24-hour window, the asset traded between $849.88 and $868.76, a 2% move that began with bullish momentum but ended with signs of fatigue near resistance.

The volatility follows filings with the U.S. Securities and Exchange Commission by REX Shares late last month, along with the rise of BNB-focused treasury firms. The latest, B Strategy, aims to hold up to $1 billion worth of BNB with backing from the investment firm led by Binance co-founders Changpeng Zhao and Yi He.

While BNB failed to hold on to its gains from earlier, underlying network activity surged. Daily active wallet addresses on BNB Chain more than doubled, climbing to near 2.5 million according to DeFiLlama data.

Yet, transaction volumes have been dropping steadily since late June, data from the same source shows. BNB’s price drop also comes ahead of key economic data from the U.S. this week, including surveys of manufacturing and services and August payroll figures.

Jobs data could influence the odds of the Federal Reserve cutting interest rates this month. As it stands, the CME’s FedWatch tool weighs a near 90% chance of a 25 bps cut, while Polymarket traders put the odds at 82%.

Technical Analysis Overview

BNB entered the session with a surge from $860.30 to $868.08, but the rally quickly lost steam. Heavy selling pressure emerged around the $867–$868 level, a zone that has now established itself as a key resistance ceiling, according to CoinDesk Research’s technical analysis model.

Volume surged during this attempt, peaking at 72,000 tokens, well above the average of 54,000, indicating a high level of participation during the failed breakout.

After the rejection, BNB retraced toward the $850–$855 range, where buying interest emerged. This was most visible as the token dipped to $851.40, triggering a volume spike. This response pointed to solid demand at these lower levels.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close