Week Financial News

Cosmos [ATOM] has been gradually recovering from its bottom range since June. Its recovery pace might be about to receive a healthy boost now that the Cosmos network transitioned to a new phase in its development.

Pro-government demonstrators in Tehran took a stand on Friday in favour of the mandatory veiling of women, calling for those who demonstrate against the veil to be "executed".

Mortgage rates rose for the fifth consecutive week, reaching yet again the highest level since the financial crisis.

U.S. applications for unemployment benefits rose slightly after five consecutive weeks of decline as many employers continue to hold on to workers despite a slowing economy.

Shiba Inu is one of the tokens attempting a comeback after a rough weekend in which its price fell below the $0.00000010 threshold. The digital asset, a part of the best meme coins, relies on strong fundamentals to propel it to new heights, although macroeconomic factors may slow its ascent. 

Bitcoin (BTC) has dropped by more than 6 per cent this week and has failed to hold support at $22,000 after successfully breaching $22,600 mid-week. BTC continues to consolidate in the range of $19,400-20.100 which has held as support for months now. If stocks recover their losses next week, there is a likelihood of BTC gaining back $22,000. This week also scripted an historic day for the crypto world as Ethereum (ETH) completed its Merge, meaning the network will no longer rely on a proof-of-work (PoW) consensus mechanism. Ethereum, the world’s second most valuable crypto, has completed its massive software upgrade with promises of massive environmental benefits. The Merge is set to reduce Ethereum’s energy consumption by nearly 99 per cent. ETH, post the Merge, has dropped nearly 18 per cent this week as a sell-off event ensured. This can be attributed to short-term traders who bought ETH leading up to the event to gain on the positive momentum and to acquire new forked tokens. Once their motives were established, they sold their positions. Total crypto market cap is now below $1 trillion.

The LUNC price is pumping again, up 15% this week and back in the five top crypto gainers today on Binance (ApeCoin tops the rankings).

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

The crypto market has not had a good week, with the entire market suffering in the wake of several incidents. One would think that the market would have seen some boost in price given the likes of landmark occasions like Ethereum’s Merge.

Bitcoin (BTC) faces another week of “huge” macro announcements after the lowest weekly close since July.

Monday

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

U.S. applications for unemployment benefits declined for the fifth consecutive week as employers held on to their workers in a persistently tight labor market.

Welcome to Financial News’s brand new weekly asset management update. It’s a great week to kick things off, as we've just published the shortlist for our Excellence in Institutional Fund Management Awards.

Members of the Aave [AAVE] community voted in support of a proposal to temporarily pause ETH borrowing on the platform. The vote that took place between 30 August and 2 September saw members in favor of the pause due to the Merge. 

The world’s largest digital currency by market capitalisation, bitcoin (BTC), has zoomed past the $22,000 mark, a staggering gain of nearly 15 percent in a week, even as the crypto community awaits Ethereum’s move to proof of stake (PoS) consensus and inflation data in the United States.

Web3 fashion is subverting the narrative at New York Fashion Week (NYFW) this fall. Fashion brands native to the Web3 space will be premiering in real life (IRL) at a two-day show put on by Nolcha Shows.

Ethereum is gearing to break out through a key resistance level in the next week. The largest altcoin by market cap was trading at $1,750 after seeing a 1.15% drop in the past day.

The crypto market has shown tentative signs of breaking out of the bearish slump that has persisted for months. Several assets are showing improvements in price, not the least of which is Ethereum (ETH), which has dominated the news cycle in recent weeks.

Just two days ahead of the much-awaited 1.2% tax burn being implemented, Binance has added LUNC and USTC to Binance Convert.

Bitcoin (BTC) kept grinding higher at the Sept. 12 Wall Street open as traders called for an imminent correction.