Markets Shroud – Byron Assessment

OpenSea, the NFT marketplace, raised $ 100 million in the Series B financing round. FTX completes a massive $ 900 million financing round, bringing the crypto trading platform to a value of $ 18 billion

Bitcoin fell below $ 30,000 on Tuesday and was trading below the cryptocurrency’s level within a month. The digital asset had maintained a semi-stable trading range of $ 31,000 to $ 35,000 in the weeks leading up to the coup.

Bitcoin fell about 3% after news that BlockFi received a cease and desist order from the New Jersey Attorney General. At the disposal was that the crypto lending company would no longer accept interest accounts in Garden State.

It was one of several regulatory crackdowns on cryptocurrencies this summer. Last month, the Financial Conduct Authority announced it would ban all trading in the country on Binance Markets Limited, and China’s central bank forced the country’s major financial institutions to block all crypto transactions.

Other cryptocurrencies also fell. Ether fell to a three-week low of $ 1,709.93.

In less bearish news, FTX closed a $ 900 million round. This brings the crypto trading platform to a valuation of 18 billion dollars, Blockworks reported on Tuesday.

Fintech firm Titan said it raised $ 58 million in a funding round led by venture capital giant Andreessen Horowitz. At the same time, Rothschild Investment Corp. tripled its Bitcoin exposure since April and increased its holdings in the Grayscale Bitcoin Trust, SEC files revealed.

Despite signals of wider mainstream adoption, the crypto markets failed to gain a foothold, with most falling at the time of publication.

However, USD coins and fasteners each rose 1%.

Crypto

Bitcoin is trading at $ 29,845.96 and is down -3.05% in 24 hours at 4:00 p.m. ET. Ether is trading at $ 1,794.80, down -1.41% for the 24 hours at 4:00 p.m. ET. ETH: BTC is at 0.060, up 1.99% at 4:00 p.m. ET. VIX fell -12.36% to 19.72 at 4:00 p.m. ET.

overview

According to the founding director of BKCoin Capital, Kevin Kang, the miners could have brought large numbers of bitcoins to the exchanges overnight, creating selling pressure in the market.

“Yesterday we saw investors exit risky assets amid Delta variant concerns and rising cases of Covid-19 around the world, with stocks selling out and US 10-year yields falling nearly 9% “Kang told Blockworks. “(The) crypto market was not immune to the general risk sentiment in macro-assets – Bitcoin was down 3% yesterday and struggled to break above $ 31,000.”

Stocks rebounded after the start of the week with a sharp decline caused by the Covid panic and inflation worries. The Dow Jones Industrial Average saw its biggest decline since October, then rose 2% for the day. The S&P 500 has made progress in all major groups.

IBM’s results on Tuesday resulted in big gains for the tech giant, whose shares rose 5% on the New York Stock Exchange during the day.

In the tech-rich Nasdaq Composite, Peloton Interactive Inc. (PTON) rose 7% after UnitedHealth Group Inc. (UNH) announced it would offer its members free home fitness classes from the company. . UNH rose 1% on the news. All major stocks continued to gain at the close of trading.

Actions

The Dow Jones rose 1.70% to 34,538 The S&P 500 rose 1.68% to 4,329 The Nasdaq rose 1.76% to 14,526

The 10-year-old rose on Tuesday morning after emptying it. Investors still have access to economic growth and upcoming rate hikes as the Federal Reserve chairman insists that inflation is temporary.

Fixed Income

10-year US Treasuries yield 1.214% at 4:00 p.m. ET

Fan shop

Brent crude rose to $ 69.65 a barrel, up 1.46%. Gold remained little changed, climbing 0.01% to $ 1,809.30.

Currencies

According to the Bloomberg Dollar Spot Index, the US dollar gained 0.09%.

In other news …

OpenSea, the leading non-fungible token (NFT) marketplace, raised $ 100 million in Series B funding, resulting in an implied valuation of $ 1.5 billion. The round was led by venture capital company Andreessen Horowitz, Blockworks reported on Tuesday.

We ensure …

The sale of existing homes in the US will take place on Thursday. The European Central Bank’s interest rate decision will be made on Thursday. The Summer Olympics in Tokyo begin on Friday.

That’s it for today’s markets. I’ll see you here tomorrow.

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