Main Takeaway: First Week Of Uptober Stays Muted
The first week of October has muted expectations of a market shift. Just yesterday, the Nasdaq fell by 4% on positive US job numbers, with the markets falling by multiple percentage points for consecutive days. However, crypto has not dropped by such drastic margins but is down almost 2% d-o-d.
The main takeaway is crypto has struggled lately on news of Luna Foundation Guard holding back payments, Celsius CEO and other leadership taking out money before the company’s bankruptcy, and news of additional blockchain bridge hacks targeting large crypto exchanges. Therefore, any news of increasing market sentiment has yet to come out. The Fed is likely to keep hiking interest rates indefinitely.
Today’s Top Gainers
The top five performing coins on Phemex d-o-d are Lazio Fan Token (LAZIO/USDT), Storj (STORJ/USDT), Injective (INJ/USDT), Skyup (SU/USDT), and Ripple (XRP/USDT).