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The SPX index is up 1.25%, as investors overlooked Federal Reserve Chair Powell's suggestion that a rate cut in March is unlikely. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 1.70% and 1.21%, respectively in the past 24 hours.
Today’s outperformer is PYTH, which jumped 24.4% after MetaLend merges GameFi and DeFi on Ronin Network with Pyth-Enhanced asset valuation.
Pyth Network (PYTH), launched in November 2023, is a blockchain oracle system that integrates real-world cryptocurrency price data into blockchain networks, enabling users to monitor crypto markets and establish smart contracts that react to changes in cryptocurrency prices. MetaLend, a key player in the Ronin Network, merges GameFi with DeFi, particularly with Axie Infinity. It provides a platform for users to deposit assets for yield and liquidity, supporting loans against certain digital assets. With nearly $2M in deposits since its inception, MetaLend uses Pyth for real-time asset valuation to maintain transaction stability. The service is operational on the mainnet, with more details accessible online.
Stride, a major player in the Cosmos ecosystem's liquid staking sector, has launched stTIA, a new token for Celestia (TIA), accompanied by an $18.5 million airdrop of STRIDE tokens over five months for early stTIA users. Experiencing substantial growth in value, STRIDE is initially focusing the airdrop on its own chain, with future plans to include other decentralized platforms. Holding $88 million in total locked value, Stride is broadening its range, recently adding DYDX token to its expanding portfolio.
Date | Report | Period | Actual |
Fri, Feb. 2 | U.S. nonfarm payrolls | Jan | 185,000 |
Fri, Feb. 2 | U.S. unemployment rate | Jan | 3.8% |
The U.S. economy added 216,000 jobs in December 2023, surpassing forecasts and the previous month's figures. Significant gains were seen in government, healthcare, and leisure sectors, while transportation jobs declined. The year 2023 recorded the lowest annual job growth since 2019, averaging 225,000 monthly, with leisure and hospitality still below pre-pandemic levels.
In December 2023, the U.S. unemployment rate stayed at 3.7%, slightly below expectations, due to a slowdown in labor force entries. The activity rate dipped to 62.5%, with a slight increase in unemployment and a decrease in employed individuals.
Airdrop | Date | Description |
$STRD | 2 Feb 2024 | 5 million STRD tokens (5% of the max supply) are being airdropped to stTIA holders over 150 days, with a 2x bonus for early holders in the first 60 days. STRD is claimable six months post-earning, initially for stTIA on the Stride blockchain and expanding to other chains starting Monday. |