On Friday, Sept. 6, the stock and crypto markets were flooded with red as investors reacted in mixed fashion to the U.S. report on non-farm payrolls.
BitcoinBTCThe AAV (AAVENear Protocol ()NEARThe % of the population that is able to read English has fallen by more than 4%.
The same sell-off occurred in the stock market as the Nasdaq 100, Dow Jones, and S&P 500 indices fell by over 1%. Nasdaq 100, which is dominated by technology stocks and Russell 2000, which includes small caps in its composition were the two worst performing indices. Tesla, Nvidia, Broadcom and other popular tech companies fell more than 5%.
Neiro (ETH) is a good example of this.NEIROAs the Black Friday selling continued, ), which is a fairly new meme coin was the top-performing asset. Its token rose by over 100%, reaching a peak of $0.176. That was the highest price since August 5,
This week it has risen by 538 % from its lowest level, giving the market cap over $147,000,000. The token became the most popular token on X after it went viral.
Binance also saw a rise in Neiro after it launched perpetual contracts with USD margins. CoinGlass’ data indicates that open interest in the token reached a high record of $35,000,000. Open interest was mainly from Bybit. Therefore, the amount could go up when Binance becomes fully integrated.
Typically, after tokens are listed on Binance (or other exchanges of tier 1) they tend to be more active. These gains can be short-lived, as the market adapts to its new norm. As an example. Pyth Network surged After its Binance listing, the company has dropped to an all-time low in this month.
Neiro’s other risk is the possibility that Bitcoin will form a death-cross pattern. This could cause further decline. When Bitcoin underperforms, most altcoins drop.
The Federal Reserve could cut rates in response to the poor jobs report. This would be a bullish sign historically.
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Source: crypto.news
