Weekly Institutional Insights — U.S. Job Report Dampens Rate Cut Hope; Staking Tokens Such As ENA and BB Outperform

June 10, 2024: Last week, Bitcoin climbed back above $70K following strong Bitcoin ETF inflows, but has since fallen below this critical level in the wake of an iron-hot U.S. job report released on Friday, June 6, 2024. 

Nevertheless, we continue to observe stellar performance from tokens that feature staking functionality, including Ethena and BounceBit. Meanwhile, Notcoin has been on a tear as Telegram’s crypto ecosystem impresses the market.

Enjoy our weekly take on the market summary!