As the Nasdaq ended the day down 3.26% and Nvidia fell more than 9%, the crypto market also took moderate hit. $BTC is now trading at $57,479, down 2.8%, and $ETH is at $2,423, also down 4.5%.
One of the significant macro developments was the plunge in oil prices, which could suggest a looming recession. All eyes are now on the data release this Friday, with the market pricing in a 38% chance of a 50bps rate cut in September.
In crypto news, World Liberty Financial announced plans to issue a non-transferable governance token and Penpie, an independent protocol built on top of Pendle, was exploited for $27M.
During the last 24 hours, the top three gainers were $XMR, $DASH, and $BSV, while the top three losers were $DOGS, $ZRO, and $AAVE.
