GMX
$GMX
11 Results
Equity indices are relatively flat in the last trading session of the third quarter, with the QQQ (+0.04%) faring slightly better than the SPY (-0.11%). U.S. Treasury yields are retreating after August PCE data showed softer than expected readings for MoM headline and core PCE. ETH -0.08% (+1.07%) is leading crypto markets, trading at $1,670, as the first Ether Futures ETFs are set to begin trading early next week, while BTC -1.54% ...
Major equity indices are trending lower today, while interest rates are on the rise, with the US 10-Year seemingly poised to hit a new YTD high. The DXY started the day strong but has since plateaued, currently sitting flat. In the commodities market, gold, which BTC -1.54% has directionally tracked quite well this year, is also up. In the crypto market, Bitcoin experienced a morning rally, surging back up to nearly...
Crypto markets seem to be taking yesterday's Binance news in stride, with BTC -1.54% down just 0.40% today at time of writing and ETH -0.08% up 1.88%. SPX and NDQ were down 0.10% and 0.63%, respectively. Interestingly, the ETH/BTC ratio appears to be stabilizing ahead of the Shanghai withdrawals on April 12th. ETH/BTC was up 2.33% today and nearly 4% from last week's low. Today's outperformers include liquid staking derivatives LDO and...
Major equity indices opened higher on Monday morning, initially responding well to the announced acquisition of SVB by First Citizens Bank, which brought some life to bank stocks. However, the indices have since retraced their gains, with the S&P 500 trading 20 basis points higher and the Nasdaq turning negative, down 70 basis points since market open. The market continues to face rate volatility, with the U.S. 2Y and U.S....
Equities opened higher this Monday morning on the back of easing bond yields. The SPX and NDQ are trading 0.6% and 1.0% higher, respectively. However, the U.S. 02Y has turned higher since this morning, now pushing back towards 4.9%. The DXY has moved lower, assisted by increased hawkish rhetoric from the ECB. The crypto market rallied slightly in concert with equities but is stalling in the face of rate strength....
Following large intraday swings yesterday after Jerome Powell's speech at the Economic Club of DC, traditional indices have picked a direction, with the SPY 0.00% (-1.07%) and QQQ (-1.72%) both falling today. BTC -1.54% (-1.30%) and ETH -0.08% (-1.36%) continue to trade around $23k and $1.65k as many altcoins are cooling off following impressive gains over the past month. Popular Arbitrum tokens GMX -5.60% and MAGIC are down 9.05% and 13.83%, respectively. The Sandbox...
FIGURE: GMX BLUEBERRY CLUB MEMBER TRADING USING GNS NFTS WHILE DYDX HEDGIES WATCH INTRODUCTION AND OPPORTUNITY In the last issue of DeFi Digest, we dove into decentralized options, a ‘Zero-to-One’ primitive that can onboard the next wave of DeFi users. Perhaps long overdue, this week we dive into decentralized perpetual futures, an instrument native to the digital asset space. A regular futures contract is simply a contractual legal agreement to...
REALIZED CAP HIGHLIGHTS CONTINUED OUTFLOWS Realized capitalization is an important metric we have frequently referenced in prior notes. It values the network based on the price at which each bitcoin was last exchanged. It is a way to calculate the overall cost basis of all BTC -1.54% holders and, consequently, is a useful measure of flows into and out of the bitcoin network. As one might expect, this year has witnessed...
Crypto and traditional markets each turned higher today. BTC -1.54% and ETH -0.08% are up 0.79% and 1.91%, while SPX and NDQ are up 0.75% and 1.16%. This comes as the dollar (DXY) continues to fall - down 0.31%. Most altcoins have lagged today compared to bitcoin and ethereum. For example, alt-layer ones NEAR -7.81% and AVAX -5.21% are down 0.15% and 0.89%, and SOL -5.60% is up just 0.59%. An exception to this is...
In anticipation of Fed Chair Powellâs speech today at 1:30 pm EST, traditional markets are relatively muted. The S&P 500 is trading just under $3,950 (-0.30%), and the Nasdaq 100 is trading around $11,500 (+0.08%). Investors will be paying attention to Powellâs speech for insight into how high interest rates will need to rise. In contrast, crypto markets are rallying today, with BTC -1.54% and ETH -0.08% rising 2.12% and 4.13%, respectively,...
