Monday, October 17, 2022

NDAX Market Report, Key Notes & Crypto Overview

OCT 10 - OCT 17

Market Updates

  • US CPI grew 0.4% m/m–double analyst expectations–to all but guarantee a 75bps Federal Funds Rate hike at the next FOMC in November
  • Bitcoin Total Hash Rate hit a new ATH of 262M TH/s, up 9% w/w, 50% y/y
  • Bitcoin Network Difficulty (a measure of how difficult it is to mine a new block) grew by 13.5% this week; its biggest upward adjustment since Elon’s Candle (May 2021)
  • Bitcoin LTH (long-term hodlers) accumulated ₿500k (2.4% of supply) in Q3 ’22

Crypto News

FUNDING:

  • Uniswap Labs Valued at $1.6B After $165M Funding Round– Blockworks
  • MetaStreet Secures $10M for NFT Loans in the Metaverse - Blockworks

INDUSTRY:

  • Google taps Coinbase to bring crypto payments to cloud services – CoinTelegraph
  • Bitcoin Hash Difficulty Rate to Increase Next Week – The Block

LEGISLATIVE ENGAGEMENT:

  • Bored-Ape Creator Yuga Labs Faces SEC Probe Over Unregistered Offerings - Bloomberg
  • Grayscale-SEC Lawsuit Moves Forward as GBTC Discount Widens – Blockworks
  • Coin Center Sues Over Treasury’s Tornado Cash Sanctions - BlockworksCrypto Moves
  • What’s up? Polygon (MATIC)--10.6% w/w.
  • BTC: A new local (3-week) high to kick off the month, up 2.7% w/w.
  • ETH eeks out a modest 1.4% w/w gains. (We’ll take it, ty.)
  • XRP ends the week up 6.5%.

New Feature: DCA on the Go!

Cybersecurity Month

Spearphishing, social engineering, malware–oh my! Are you aware of which common phishing red flags to look out for? 

Here is a resources on how to stay vigilant of phishing attempts

Save your funds by avoiding these creative scams

Upcoming Events

  • October 14-18 Canadian Blockchain Consortium
  • October 14th – Atlanta Bitcoin Conf. 2022
  • Nov 2nd – Next FOMC
  • November 4th – US Non-Farm Payrolls
  • November 10th – Consumer Price Index

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