Market Pulse: Crypto assets and safe havens led market moves yesterday as XRP hit a six-month high on surging open interest and Bitcoin and Gold rallied amid inflation concerns. Equities drifted without a clear trend.
Key Movers: XRP grabbed headlines with record open interest, Nvidia drew attention after its CEO downplayed lifting the China chip ban, and Sarepta surprised with preliminary Q2 net product revenue of $513M.
Macro & Politics: The US is debating a state capitalism approach under “Trump 2.0,” and India green-lit a quantum computing initiative via QpiAI to counter China’s tech push.
What’s Next: Watch for Q2 earnings commentary from regional banks and fresh Fed chatter on inflation before today’s close.
Market Commentary
Everyone’s missing the hidden squeeze from bank fee hikes on crypto startups, and not just the headline open interest spikes for XRP. JPMorgan’s new “compliance” fees are set to crimp margins for digital-asset clients, and that friction could drain the speculative froth faster than any regulatory memo.
It’s easy to treat Talos’s $100M Coin Metrics buy as another alt-data fad, but mix that with Trump’s embrace of state capitalism and you see a broader theme: private investors chasing transparency while governments micromanage markets. Those two forces could collide and reshape both fintech valuations and on-chain analytics pricing.
If you’re long crypto or small-cap data plays, sharpen your exit strategy and lock in gains on early-stage alt-data names, then reposition to banks or semis that show clear guidance. Opportunities come and go faster than policy headlines, so stay nimble and question every fee you face.
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