News

Market Overview

Eurozone Jobless Rate: The euro area unemployment rate rose slightly to 6.3 percent in August from 6.2 percent in July, remaining near record lows despite weaker economic activity, according to Eurostat.
Japan’s service sector activity strengthened in September, with steep increases in both business activity and new orders, as shown by final purchasing managers’ survey data from S&P Global.

US Spot ETF Flows

US BTC Spot ETF Flows

US ETH Spot ETF Flows

Crypto Liquidations Summary

• UK officials are considering keeping approximately $6.4 billion in Bitcoin appreciation from 61,000 BTC seized in a 2018 Chinese fraud case, potentially reimbursing victims only their original investment of $862 million rather than the current $7.24 billion value.
• The European Central Bank announced framework agreements with seven technology providers to develop components for a potential digital euro launch targeted for 2029, covering fraud detection, secure payment information exchange, and offline payment capabilities, though the actual launch depends on EU legislation approval and a final ECB Governing Council decision.
• Crypto.com announced Thursday it will integrate Morpho’s DeFi lending protocol on its Cronos blockchain later this year, allowing users to deposit wrapped Bitcoin and Ether to borrow stablecoins and earn yield, mirroring Coinbase’s recent Morpho integration that offers up to 10.8% yields on USDC lending compared to the 4.5% APY for simply holding the stablecoin.
• SUI Group announced plans to launch two native stablecoins on the Sui blockchain: USDi, which is fully backed by BlackRock’s Treasury fund, and suiUSDe, a synthetic stablecoin that uses hedging strategies to maintain its dollar peg similar to Ethena’s USDe, as the partnership aims to bring stablecoin infrastructure to the Sui ecosystem as the global stablecoin market surpassed $300 billion.
• Canaan Inc. shares surged over 26% to $1.31 on Thursday after securing its largest order in over three years for 50,000 Avalon A15 Pro Bitcoin mining rigs from an undisclosed US-based company, signaling renewed institutional appetite for mining infrastructure as Bitcoin’s mining difficulty reached a record 150.84 trillion despite some players exiting the increasingly competitive market.