Daily Market Brief

Aug 2, 2024

Daily Market Brief 240802

Peter-Headshot
Peter Chung
RM
Rick Maeda
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  • Equity markets took a hit as the slew of tech company earnings disappointed, with INTC -6% and AMZN -2%. As the post-Fed price action continued to nudge traditional risk assets lower, a late US session surge pushed BTC and ETH back to levels unchanged on the day. $BTC at $65k and $ETH $3.2k.

  • Overnight, Coinbase Q2 results came in, with $1.45 billion in quarterly revenue as profits declined.

  • MicroStrategy announced an additional purchases of 12,222 BTC in Q2, bringing their total holdings to 226,500, with a current market value of $14.72B (see below for more).

  • According to DefiLlama, for the first time ever, Solana’s monthly DEX volumes surpassed Ethereum’s in July 2024, with $55.88B versus $53.87B respectively.

  • During the last 24 hours, the top three gainers were $SKL, $AIOZ and $CRV, while the top three losers were $MOG, $WIF, and $ZRO.

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Peter-Headshot
Peter ChungHead of Research
RM
Rick MaedaResearch Analyst