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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole was a senior reporter on CoinDesk's Markets team.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
● CoinDesk Market Index (CMI): 1,037.98 +2.72%
● Bitcoin (BTC): $20,576.64 +2.14%
● Ether (ETH): $1,580.09 +3.08%
● S&P 500 futures: 3,753.50 +0.69%
● FTSE 100: 7,294.10 +1.46%
● Ten-year Treasury yield: 4.16% +0.03
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices.
Top Stories
Bitcoin (BTC) was higher despite a U.S. jobs report showing faster-than-expected growth in October – implying the Federal Reserve might have to stay aggressive in pushing to cool off the labor market.
Fidelity Investments has opened the waiting list for Fidelity Crypto, which will offer commission-free bitcoin and ether trading for retail users. Fidelity already offers crypto investing to institutional clients and previously issued a bitcoin exchange-traded fund (ETF) in Canada and has several crypto ETFs in the U.S., although spot-bitcoin ETFs are yet to be approved in the U.S.
Twitter has halted its plans to build a crypto wallet, and, on cue, the price of dogecoin sank more than 10% following the announcement. The cancellation is part of a new roadmap being aggressively implemented by Twitter’s new owner, Elon Musk. The wallet is reportedly meant to enable users to deposit and withdraw their funds without relying on third-party services.
Chaos ensnared Gala Games late Thursday, as fears of a potentially billion-dollar hack – or maybe a rug pull – drove its native GALA token down 20%, while a firm apparently related to the crypto play-to-earn platform said that they had actually effectively attacked themselves to prevent bad actors from absconding with users' money.
Chart of the Day: The Meta Effect
(Arweave Technicals)
- AR, the native token of the decentralized storage protocol Arweave, surged over 40% the past 48 hours thanks to Meta's decision to utilize the Web3 platform to archive Instagram creators' digital collectibles.
- The above chart shows open interest or the total dollar amount locked in futures tied to AR, which blew up 190% to $40 million in two days, indicating an influx of new money into the market.
- An increase in open interest, along with an increase in the underlying asset's price, is a strong indicator of a bullish trend.
– Omkar Godbole
Trending Posts
CoinDesk Market Index
Biggest Gainers
| Asset | Ticker | Returns | DACS Sector |
|---|---|---|---|
| Mask Network | MASK | +19.6% | Computing |
| Gitcoin | GTC | +14.01% | Currency |
| Gala | GALA | +11.36% | Culture & Entertainment |
Biggest Losers
| Asset | Ticker | Returns | DACS Sector |
|---|---|---|---|
| Band Protocol | BAND | -45.6% | Computing |
| Loopring | LRC | -26.7% | Smart Contract Platform |
| Polygon | MATIC | -17.87% | Smart Contract Platform |
Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements.
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole was a senior reporter on CoinDesk's Markets team.
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Omkar Godbole was a senior reporter on CoinDesk's Markets team.
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