📈 Daily Market Review 📉
🔸Daily Macro:
🔹BTC Mkt:
BTC rebounded above $57K, now around $56K.
🔹BTC ETF:
Prelim reports on Aug 8 showed a net outflow of $7.3M.
🔹ETH ETF:
Prelim reports on Aug 8 showed a net outflow of $23.68M.
🔹Macro Data:
U.S. stocks opened higher but closed lower on Wednesday. Investors focus on Fed rate cut prospects and Q2 earnings. A former Fed official suggested a 50 basis point cut might be needed in September.
🔸Daily Focus:
🔹Ripple:
Ripple fined $125M for unregistered XRP sales, much lower than the SEC's $2B demand. The court found no fraud. Ripple sees this as a major win for the crypto industry, boosting XRP's performance and possibly attracting more institutional investors.
🔹Market Outlook:
Ripple's victory may encourage institutional participation in the crypto market, as it provides legal clarity.
🔸Next Focus:
🔹Plustoken:
Dormant wallets linked to the 2018-19 Ponzi scheme moved some ETH on Wednesday. The purpose is unclear.
Full review: 👉HERE👈
🔸Daily Macro:
🔹BTC Mkt:
BTC rebounded above $57K, now around $56K.
🔹BTC ETF:
Prelim reports on Aug 8 showed a net outflow of $7.3M.
🔹ETH ETF:
Prelim reports on Aug 8 showed a net outflow of $23.68M.
🔹Macro Data:
U.S. stocks opened higher but closed lower on Wednesday. Investors focus on Fed rate cut prospects and Q2 earnings. A former Fed official suggested a 50 basis point cut might be needed in September.
🔸Daily Focus:
🔹Ripple:
Ripple fined $125M for unregistered XRP sales, much lower than the SEC's $2B demand. The court found no fraud. Ripple sees this as a major win for the crypto industry, boosting XRP's performance and possibly attracting more institutional investors.
🔹Market Outlook:
Ripple's victory may encourage institutional participation in the crypto market, as it provides legal clarity.
🔸Next Focus:
🔹Plustoken:
Dormant wallets linked to the 2018-19 Ponzi scheme moved some ETH on Wednesday. The purpose is unclear.
Full review: 👉HERE👈
2 comments
Jignesh Parjapti Jignesh
Haa
𝓙𝓸ʻ𝓼𝓱𝓺𝓲𝓷𝓫𝓮𝓴
Oof
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