Binance Research

Highlights 🧵:
1/ This week has delivered several positive economic indicators for the U.S., including annual inflation in July slowing to its lowest level since March 2021. Weekly jobless claims fell to 227,000, and retail sales rose by 1.0% in July, marking the largest increase in 1.5 years. As a result, the U.S. stock market has regained much of its losses over the past two weeks.

2/ Nonetheless, total crypto market cap is down over 5% this week, and DeFi TVL has fallen by nearly 9%. Overall sentiment in the crypto market remains muted, and the market sold off on the back of the U.S. government transferring 10,000 BTC to Coinbase Prime and news of Jump Trading offloading 17,000 ETH.

3/ DBS has launched a pilot for DBS Treasury Tokens, a treasury and liquidity management solution, in partnership with Ant International. Separately, MetaMask, in collaboration with Mastercard and Baanx, has launched the pilot of the MetaMask Card, allowing direct spending from one’s MetaMask wallet.

www.tgoop.com/BinanceResearch/690

4.4K viewsAug 16, 2024 at 11:36

Highlights 🧵:
1/ This week has delivered several positive economic indicators for the U.S., including annual inflation in July slowing to its lowest level since March 2021. Weekly jobless claims fell to 227,000, and retail sales rose by 1.0% in July, marking the largest increase in 1.5 years. As a result, the U.S. stock market has regained much of its losses over the past two weeks.

2/ Nonetheless, total crypto market cap is down over 5% this week, and DeFi TVL has fallen by nearly 9%. Overall sentiment in the crypto market remains muted, and the market sold off on the back of the U.S. government transferring 10,000 BTC to Coinbase Prime and news of Jump Trading offloading 17,000 ETH.

3/ DBS has launched a pilot for DBS Treasury Tokens, a treasury and liquidity management solution, in partnership with Ant International. Separately, MetaMask, in collaboration with Mastercard and Baanx, has launched the pilot of the MetaMask Card, allowing direct spending from one’s MetaMask wallet.

BY Binance Research