@HuobiGlobal, again, had an outstanding surge in $HT price after @justinsuntron revealed that he had "tens of millions" #Huobi token stakes following advisory role appointment.
@quant_network representatives joining #Sibos2022 raised hope for a possible #SWIFT partnership. This may be the reason that $QNT saw a nice jump last week.
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0/ The week of Oct 12-18 was quiet until the CPI release crashed $BTC to its new October low of $18,299, but the losses quickly recovered.
#BTC went sideways in the rest of the week with a 1% gain, followed by $ETH.
$ADA (-10%) & $XRP (-6%) were the biggest large-cap losers.
1/ Both #stocks & #crypto markets saw a flash sell-off after CPI, but quickly bounced back as the Fed's hawkish policy was priced in.
The Fed's plan for a rate hike streak can put more pressure on crypto in the long term.
2/ It's a question if we can see the decoupling of cryptos from equities.
Could crypto survive another bearish year if S&P and #NASDAQ were to lose another 10-20% in value, $USD would get even stronger, and investors may move out of risk-on assets?
2/ Both S&P 500 and Nasdaq saw the green today due to strong earning reports from @GoldmanSachs and the market was waiting for more, but $BTC marked a 0.3% drop.
$740M in #BTC outflow from exchanges on Oct 18 (@cryptoquant_com) didn't seem to push a clear move for the price.
$FXS saw a nearly 18% surge at one point in the past 24h following the expectation about its upcoming liquid staking protocol and $frxETH release.
What's in store for @fraxfinance and what the future holds: A 🧵
0/ 👇
1/ On its way to becoming a "decentralized central bank," @fraxfinance has shipped new innovations to the #crypto-verse.
And $frxETH, a liquid $ETH staking derivative to maximize staking yield and smoothen the @ethereum staking process, is the latest one to come to life.
2/ $frxETH acts as an $ETH-pegged #stablecoin, but the peg will be "soft" at first and become "tight" after Shanghai withdrawals, according to @samkazemian:
Some cryptocurrencies gave up their gains yesterday as $BTC slid below $19,000, and $DXY took a rally to 112, which is considered negative for #bitcoin price.
It is trading under $18,800 at the time of writing, posting a 1.4% drop in the past 24h. Traders are waiting for Powell's comments at the "Fed Listens" event.