Daily Market Brief

Aug 22, 2024

Daily Market Brief 240822

Peter-Headshot
Peter Chung
Min-Headshot
Min Jung
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  • $BTC climbed back above the 60k level and is now trading at $61,158, with $ETH trading at $2,630.

  • The FOMC minutes were released, highlighting that "The vast majority observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting." The market is now pricing in a 38% chance of a 50bps rate cut.

  • Early this morning Bloomberg reported that Vice President Kamala Harris will support policies to foster the cryptocurrency industry.

  • Other headlines include Tether launching a new stablecoin pegged to the UAE Dirham, Mt. Gox transferring 1,264 BTC to an exchange, and Story Protocol announcing a $140M raise led by a16z.

  • During the last 24 hours, the top three gainers were $FTM, $MATIC, and $UNI, while the top three losers were $HNT, $NFT, and $TRX.

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Peter-Headshot
Peter ChungHead of Research
Min-Headshot
Min JungResearch Analyst