the daily degen 🦍(12Jul23)
handle.fi daily market update
market data
market news
FTX claims portal goes live, allowing creditors to submit their claims. The portal is for customers who had accounts with FTX.com, FTX.us, Blockfolio, FTX EU, FTX JP and crypto exchange Liquid. Last month, a U.S. court said customers should file their claims by September 29.
Cboe ‘reached an agreement on terms’ with Coinbase for bitcoin ETFs. The amendments appear to signal Cboe’s attempt to mirror language already included in filings by rival exchange Nasdaq, which would list the spot bitcoin ETFs for BlackRock and Valkyrie, if approved. Coinbase’s stock price was up about 10% on the day late Tuesday morning.
Aave set to vote on launching GHO stablecoin on Ethereum mainnet. Stablecoin borrowing on Aave would become more competitive and generate additional revenue for the DAO if the proposal is approved & implemented.
USD/CAD drops as Bank of Canada set to hike again. The Bank of Canada is expected to lift rates by 0.25% to 5% on Wednesday after resuming rate hikes last month following a five-month hiatus.
around the twitterverse…
market watch
US CPI is out at 830 AM ET on 12/7/2023. For year on year 3.1% is the forecasted number with previous reading of 4%.
trade ideas
trade: long AAVE/ USD
AAVE has seemingly broken out and retested the downtrend it has been following for the majority of the year. With a vote on their GHO stablecoin moving ahead it could be a good time to enter into an AAVE position. If price can’t keep above the downtrend and falls back below the trendline then look to cut the trade. Target would be year high around $95.
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