๐๐ IntoTheBlock Analyst: Fee income in #ETH rose to $45 million in one week, and the correlation between #BTC and US stocks reached its highest level in two years.
๐๐ฃ QCP Capital: Looking ahead to next week, the focus will be on upcoming labor market indicators including JOLTs, ADP and the US unemployment rate.
High performance on these data could lead to a decline of 50 bps. in November, which is even more will increase demand for risky assets.
High performance on these data could lead to a decline of 50 bps. in November, which is even more will increase demand for risky assets.
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๐ฎ๐ Bitwise CIO: #BTC could hit $100K-$200K or even higher โ there's too much demand and not enough supply.
๐ค #ETH is trading at a 1,200x Price-to-Sales (PS) ratio
To put that in context, traditional markets typically see Price-to-Earnings (PE) ratios around 30x, which is similar to PS
But the question is should L1s be valued by this metric
To put that in context, traditional markets typically see Price-to-Earnings (PE) ratios around 30x, which is similar to PS
But the question is should L1s be valued by this metric
๐ #ETHโs rally this week quickly pushed the percentage of addresses 'in the money' from 59% to 69%. Even more impressive, over 80% of ETH volume is now in profit, reflecting solid buying support at key levels.
๐ฝ๐ #ETH #ETF President of The ETF Store: The BlackRock Ethereum ETF has surpassed $1 billion in total net asset value just two months after launch.
This amount puts BlackRock's fund in the top 20% of the more than 3,700 ETFs available in the US market.
This amount puts BlackRock's fund in the top 20% of the more than 3,700 ETFs available in the US market.
๐๐ Upcoming major releases next week:
#OP 2.5% ($58.9M) - September 30
#DYDX 1.32% ($8.8M) - October 1
#MAV 9.56% ($8.98M) - October 1
#SUI 2.4% ($104.6M) - October 1
#ZETA 13.43% ($40.97M) - October 1
#ENA 2.82% ($18.89M) - October 2
#DG 2.38% ($113.5M) - October 3
#IMX 2.02% ($57.8M) - October 4
#OP 2.5% ($58.9M) - September 30
#DYDX 1.32% ($8.8M) - October 1
#MAV 9.56% ($8.98M) - October 1
#SUI 2.4% ($104.6M) - October 1
#ZETA 13.43% ($40.97M) - October 1
#ENA 2.82% ($18.89M) - October 2
#DG 2.38% ($113.5M) - October 3
#IMX 2.02% ($57.8M) - October 4
๐๐ #BTC Historically, when Bitcoin closes September in the green, the final three months of the year have seen even bigger gains
๐ Santiment: If you're expecting a new #BTC all-time high, you may have to wait until the crowd slows down their own expectations. Currently, for every 1 bearish post, there are 1.8 bullish posts regarding BTC.
Historically markets are always moving in the opposite direction to the crowd's expectations.
Historically markets are always moving in the opposite direction to the crowd's expectations.
๐ฅณ๐ #FTT FTX will set aside up to $230 million for shareholders, not creditors, from proceeds of seizure of public funds theblock.com
๐ฟโ #FTT Cointelegraph: Rumors that FTX will begin distributing refunds to creditors and customers on September 30, 2024 are false because the restitution plan has not yet been approved by the court. According to updated Chapter 11 filings, next court hearing to approve restructuring plan will take place on October 7, 2024.
If the plan is approved, claimants with small claims under $50,000 could begin receiving payments by the end of 2024. Claimants with larger claims may not see payments until the first or second quarter of 2025.
If the plan is approved, claimants with small claims under $50,000 could begin receiving payments by the end of 2024. Claimants with larger claims may not see payments until the first or second quarter of 2025.
๐ณ #XRP Ripple whales have bought over 470 million XRP in the past 10 days