Crypto prices continue to trend higher today as crypto earnings take center stage this week.
Bitcoin was trading at $20,727 on Coinbase, down roughly 0.1% in the past 24 hours, according to exchange data. Meanwhile, ether gained 1% in the same period as Ethereum’s native coin traded at $1,620.
Altcoins also ticked higher on Monday. Binance, Solana and Avalanche’s native coins added 5.2%, 4.9%, and 3.5%, respectively.
Elsewhere, the HUSD stablecoin was down over 60% in the last few hours, according to data from CoinGecko. The stablecoin has traded below its peg since Oct. 28, after Huobi announced its delisting a day prior.
Crypto earnings calls
Coinshares kicks things off today with its earnings report. The asset manager had a busy third quarter — launching several new product lines, including a Twitter bot that helps NFT traders judge the fair value.
MicroStrategy delivers its earnings on Tuesday. The software firm last purchased bitcoin in September, bringing its total holdings to 130,000 BTC.
Robinhood will share its results on Wednesday. Last quarter, the retail investing app took steps to trim costs after missing earnings in August.
Coinbase is the main event on Thursday, while Block, PayPal, and Mercado Libre are also due.
Macro matters
It’s another big week regarding macroeconomic developments as the U.S. Federal Reserve is set to announce its next interest hike on Wednesday. The central bank is expected to increase rates by 75 basis points again.
The market is pricing in an 89% possibility of a 75 basis point increase, according to interest rate traders, based on the CME’s FedWatch tool.
In Europe, inflation in the Eurozone hit a record high of 10.7% on Monday. The ECB hiked rates by 75 basis points last week as it continues to combat red-hot inflation.
The Bank of England is expected to raise rates by 75 basis points on Thursday.
Source : theblock
