Daily Market Brief

May 10, 2024

Daily Market Brief 240510

Peter Chung
Min Jung
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  • $BTC rallied during the US hours and is now trading at $63,075, up 3% from $60,600. The likely driver of this rally is the U.S. jobless claims, which came in above the estimate at 231,000, leading investors to gain more confidence about a potential rate cut.

  • Binance’s surveillance team uncovered market manipulation by DWF Labs and subsequently dismissed the head of surveillance following the issue. For more details, please refer to the full allegation from WSJ.

  • Yesterday’s headlines included Notcoin listing on OKX and Binance through launchpool, Eclipse CEO stepping down amid sexual misconduct allegations, and VanEck’s launch of the $MEMECOIN index.

  • During the last 24 hours, the top three gainers were $WIF, $GRT, and $TON, while the only cryptocurrencies in negative territory were $LEO and $ATOM.

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Peter ChungHead of Research
Min JungResearch Analyst