Crypto Markets Mostly Down; Equities Trade Sideways: Markets Wrap

Bonds, equities, cryptocurrencies and commodities slipped in mixed trading today.


Blockworks exclusive art by Axel Rangel


key takeaways

  • Evergrande woes continue as the company scrambles to reduce debt load
  • Twitter’s head of consumer product marketing gives sneak peek of NFT integration

Today was all about choppy trading action in bonds, equities, cryptocurrencies and commodities.

Bitcoin and ethereum were both trading lower, notching small losses of 1.5% and 2.1% respectively, as of press time.

The Chinese real estate developer Evergrande is offloading a 20% stake in Shengjing Bank, to raise $1.5 billion of the $305 billion it owes creditors, Blockworks reported earlier today.


  • dYdX ($DYDX: $24.33) continues its impressive run as Total Value Locked (TVL) reaches $660 million.
  • Ethereum brings in $800 million in protocol revenue, or fees generated for token holders, over the last 30 days.
  • Ethereum sits at $120.72 billion in TVL.


  • Bitcoin is trading around $41,211.13, down 1.5% in 24 hours at 4:00 pm ET.
  • Ether is trading around $2,810.82, dropping 2.1% in 24 hours at 4:00 pm ET.
  • ETH:BTC is at 0.068, declining -0.07% at 4:00 pm ET.


Aaron Tilton, CEO at cryptocurrency platform SmartFi and former Utah state legislator, said,

“Ironically the SEC Chair enforcement approach reminds me of the earlier tactics the Chinese regulators had taken a few years ago by warning people that crypto must be re-made in an acceptable image of regulators for protection of the people, After all the ‘warnings’ China made their own digital currency and outlawed private cryptocurrencies. The Congress, the SEC and crypto users should be engaging in proactive collaboration to serve the people, but it appears to be saber rattling warning the people to fall in line or else.”

Total Crypto Market Cap (Source: Trading View)

All major Wall Street indices showed choppy trading during today’s session.


  • The Dow rose 0.26% to 34,390.
  • S&P 500 was up 0.16% to 4,359.
  • Nasdaq posted losses of -0.24% to 14,512.


  • The US dollar rose 0.68%, according to the Bloomberg Dollar Spot Index.


  • Brent crude was down to $78.34 per barrel, falling -0.95%.
  • Spot Gold fell -0.46% to $1,725.97.

Fixed Income

  • US 10-year treasury yields 1.522% as of 4:00 pm ET.

In other news…

Twitter’s Justin Taylor, head of consumer product marketing, gave a sneak peek of what NFT verification for profile pictures could look like on Twitter.

Loading Tweet..

Ripple announced today that they will be launching a $250 million creator fund to enable creators to explore new use cases for NFTs on top of $XRP.

Dapper Labs announced a partnership with the NFL to create exclusive highlight NFTs for fans to collect.

Fed Chairman, Jerome Powell called inflation ‘frustrating’ and sees it running into next year.

We are looking out for

  • Federal Reserve Chairman Jerome Powell will discuss pandemic recovery on Friday.

That’s it for today’s markets wrap. I’ll see you back here tomorrow.

Are you a UK or EU reader that can’t get enough investor-focused content on digital assets?Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.


upcoming event

MON - WED, MARCH 18 - 20, 2024

Digital Asset Summit (DAS) is returning March 2024. This year’s event will be held in our nation’s capital, where industry leaders, policymakers, and institutional experts will come together to discuss the latest developments and challenges in the ever-evolving world of cryptocurrency. […]

upcoming event

MON - WED, SEPT. 11 - 13, 2023

2022 was a meme.Skeptics danced, believers believed.Eventually, newcomers turned away, drained of liquidity and hope.Now, the tide is shifting and it’s time to rebuild. Permissionless II is the brainchild of Blockworks and Bankless. It’s not just a conference, but a call […]

recent research

The State of LSTFi


There are five broad use cases for LSTs that are gaining traction alongside growth in demand: leverage farming, liquidity providing, LST baskets, stablecoin collateral, and interest rate derivatives.



Alexander Vinnik’s lawyers aim to swap his freedom for detained WSJ reporter Evan Gershkovich


This latest update will introduce immutability to token metadata but ensure that its key characteristics are preserved, and it will also introduce network fees


In a blog post, partly directed at the forthcoming Eigenlayer protocol, the Ethereum co-founder cautions against overloading consensus


Hunting for victims in Ethereum’s public mempool, automated searchers prey on transactions as they are discovered in a practice called MEV


The crypto exchange that filed for bankruptcy last November would endure a long road to raise funds, clear debts and gain trust, law pros say


The broadcasters were discussing Hong Kong’s new regulations for virtual asset trading platforms set to go into effect June 1