Crypto Market Pulse (09/01/2023)

Latest U.S. jobs data released; crypto performed well last week. Ethereum’s Shanghai upgrade public testnet planned for Feb. Hong Kong gearing up to provide retail virtual asset trading services.

Weekly Market Index

Last week’s crypto market prices rose slightly by +3.98%. Volume was flat at -0.53% and volatility increased by +36.36%.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) were up +3.4% and +8.1% in the past seven days, respectively. Many cryptocurrencies have been gaining over the last several days after the latest U.S. jobs data released last Friday sparked a Wall Street rally.

News Highlights

• Many cryptocurrencies have been gaining over the past several days after the latest U.S. jobs data release sparked a Wall Street rally. Non-farm payrolls rose by 223,000 jobs in December, which was higher than expectations, but wages grew less than expected.
• Financial services providers in Hong Kong are already taking the first steps to provide virtual asset trading services to retail investors. Brokers and fund managers have reportedly asked for advice on licensing requirements ahead of the new virtual asset trading legislation.
• Ethereum developers aim to release a public test network for the Shanghai upgrade by the end of February.
• Australia overtakes El Salvador to become the fourth largest crypto ATM hub. Australia records 216 ATMs stepping into the year 2023.

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