Hong Kong Virtual Assets Consortium launched with Huobi as first member

Huobi has become the first member of the Hong Kong Virtual Assets Consortium (HKVAC), the Seychelles-based cryptocurrency exchange announced on May 31. The new organization promises to provide a ratings service and indexes when it is fully launched. The new organization is debuting at a crucial moment, as retail cryptocurrency trading begins in Hong Kong [...]

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US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision

The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central [...]

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How does a stock’s price-to-earnings ratio relate to cryptocurrencies?

The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity. In today’s episode, crypto analyst Pechman looks at the price-to-earnings [...]

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Nifty News: Jimmy Fallon wants exemption from BAYC trademark case

Jimmy Fallon wants out of the BAYC trademark case, while Blur is responsible for the NFT market’s three-month high.

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Altcoin Indexes Outperform Bitcoin, Small Caps Lead Market

Data shows all the altcoin indexes have outperformed Bitcoin during the past month, with the small caps becoming the market leaders. The Past 30 Days Were Green For Both Bitcoin And Altcoins According to the latest weekly report from Arcane Research, all indexes record positive returns in the 27-31% range during the past month. The “altcoin indexes” here refer to groups of alts divided based on their market caps. The benefit of creating indexes of cryptos is that it makes it easy to assess the performances of the different segments of the market against each other this way. There are three main altcoin indexes: the “small caps,” the “mid caps,” and the “large caps.” As is already apparent from their names, each of these covers coins of different sizes. Now, here is a chart that shows how these three indexes have performed against each other, as well as versus Bitcoin, over the past month: Looks like all these indexes have seen sharp rise in recent days | Source: Arcane Research's Ahead of the Curve - January 17 As shown in the above graph, both the altcoins and Bitcoin observed very little price action in the final third of December, as their returns were close to 0%. This trend started to change around a couple of weeks ago, however, as some bullish price action finally returned to the market after what was a full year of mostly bearish movement in 2022. Related Reading: Bitcoin aSOPR Again Retests Bull-Bear Junction Level, Will Resistance Break This Time? In the period since then, the entire market has seen a significant uplift, as all the market segments are in some major profits now. The winner during the past 30 days has been the small caps, who are currently sitting at 31% in the green. An interesting thing to notice is that the small caps suffered the most at the end of 2022 as they capped the year being noticeably more underwater than the other indexes (as can be seen in the chart). This makes them turning it around and outperforming the rest of the market all the more impressive. Related Reading: Here’s Why $22,400 Could Be The Next Major Level To Break For Bitcoin Investors of both the large caps and mid caps are in profits of 28% each right now, not too far from the small caps’ performance. Bitcoin has also seen very close positive returns of 27% over the past month, but clearly, the altcoins have managed to outdo the pioneer crypto during this period. As for Ethereum’s performance in this same period, the asset with the second largest market cap in the sector has observed gains of more than 32% in the past month, meaning that on its own, it has performed better than the indexes. The report notes that the main reason behind the outperformance by the alts is due to these indexes observing a deeper decline than Bitcoin during the period following the FTX debacle back in November of last year. BTC Price At the time of writing, Bitcoin is trading around $21,200, up 21% in the last week. The value of the crypto seems to have been consolidating in the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research

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The creator of the FTSE100 launches indices for crypto

The constituent coins that make up the indices have not yet been released, but it does include performance data for the first three quarters of 2022.

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20% drop in the S&P 500 puts stocks in a bear market, Bitcoin and altcoins follow

Recession fears mount as a 20% decline in the S&P 500 places stock in a bear market, increasing the chance that BTC and altcoins will make new lows.

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Altcoin Roundup: Crypto indexes offer broad access, but are they profitable in the long run?

Trading crypto can be tricky, but a portion of the risk can be mitigated by investing in crypto indexes. Here’s some of what the market has to offer.

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Galaxy Digital Will Introduce Cryptocurrency Indexes In Partnership With Alerian

Galaxy Digital has announced the launch of passive cryptocurrency indexes with Alerian. These passive crypto indexes are eight in number; they will be weighted equally and re-balanced monthly. Galaxy Digital Holdings has partnered with S-Network Global indexes and Alerian to launch eight blockchain indexes focused on crypto. Galaxy Digital Holdings Ltd is a financial services and investment management company that offers cryptocurrency and digital assets services. The Company also provides services in blockchain technology with business lines, including Principal investments, trading, advisory services, and asset management. Related Reading | Kraken To Re-Enter The European Market By Applying For A New License According to an announcement made on August 24th, the duo developed two families of the crypto index. They are referred to as the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes and Alerian Galaxy Global Blockchain Indexes. The eight offerings have their listing under Alerian Galaxy Global Cryptocurrency-Focused Blockchain Indexes. The passive indexes enable access to few selected investment vehicles and public companies. The companies and selected vehicles should be actively involved in the blockchain and crypto sectors like cryptocurrency miners. Related Reading | Number Of Short-Term Bitcoin Holders Hits All-Time Low, How This Affects The Price Other good examples are companies with crypto on their balance sheets, blockchains researchers, and infrastructure tech developers. The indexes are equally weighted and rebalanced monthly. Comments From Galaxy Digital Head of Asset Management Steve Kurz, Partner and Head of Asset Management at Galaxy Digital, said: ” We have a goal to keep on empowering investors with institutional, seamless, and innovative access points. We intend to channel it to the upcoming digital assets ecosystem”. The Alerian Galaxy Global Cryptocurrency-Focused Blockchain CRYPTE Index is one of the eight latest products. It tracks crypto companies like Argo Blockchain, Square Inc., Voyager Digital, Coinbase, and Marathon Digital holdings, etc. Although, the Alerian Galaxy Global Blockchain Index (BCHAIN) is tracking Facebook, Microsoft, Mastercard, Grayscale’s Bitcoin, and Ethereum Trusts. Other indexes include CRYPTP, BLKCHN, and BLKCNP. Galaxy has increased its offerings early this month by partnering with Bloomberg to create a Defi Index tracking various projects. These projects include Aave (AAVE), Uniswap (UNI), and Compound (COMP). In 2018, Galaxy had a partnership with Bloomberg to launch a Crypto Benchmark Index. The Index aims to track the liquidity of the top 10 cryptos. Related Reading | Why An 18% Drop In Bitcoin Could Still Be Bullish According to an August 18th report, Galaxy posted a loss of $175.8 million in Q2. The Galaxy CEO and founder Mike Novogratz expressed that he isn’t disturbed by the development. He referred to factors like blue-chip strategic partnerships and increased counterparty trading volume as reasons to be bullish. He added that the goal was simply an adoption. “We believe that the adoption battle will over time be a stickier, hard, and more financially impactful compared to short-term price moves.” – Mike Novogratz At the time of writing, cryptocurrency market is down by 2% | Source: Crypto Total Market Cap on TradingView.com Featured image from The Block, chart from TradingView.com

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Fed Pauses Interest Rates After 10 Consecutive Hikes; Committee Likely to Raise Rates ‘Somewhat Further’ This Year

In accordance with market predictions, the U.S. Federal Reserve decided to halt its rate hike this month after ten consecutive hikes since last year. The members of the Federal Open Market Committee (FOMC) asserted that the U.S. banking system is still “sound and resilient,” and the committee continues to closely monitor inflation risks. Federal Reserve [...]

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US Inflation Climbs to 3.2% in July, Stoking Concerns and Dividing Market Opinions

The most recent data from the Bureau of Labor Statistics reveals a growingly intricate inflationary scenario for the U.S. economy. Disclosed on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) exhibited a 3.2% annual increase in July, primarily propelled by housing expenses. This monthly surge aligns with June’s 0.2% escalation, where food costs [...]

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