【Daily Crypto Market Hotspot Review｜September 1】
On the first day of September, the market on-screen didn’t move much, but the drama outside was anything but light
1️⃣ Russia brings Crypto into banks
With new regulations now rolling out, Russia’s largest commercial bank, Sberbank, is expected to have compliant Crypto trading volumes of up to $46.4 billion in its first year, and it’s also preparing to accept BTC, ETH, and USDT-backed loans once regulators allow it
Previously, people used their homes as collateral; later, they may use BTC to borrow money from banks—maybe this really isn’t a new storyline anymore
2️⃣ Binance turns around to grab the Wall Street lunch tray
Binance has listed over 1,000 options on U.S. stocks and ETFs. Reportedly, the August TradFi perpetual futures contract trading volume already reached $433.4 billion.
Previously, it was Wall Street that packaged BTC into ETFs and sold them to retail investors.
Now, crypto exchanges are bringing U.S. stocks over to the crypto side to play.
3️⃣ Should September raise rates? The debate starts all over again
The U.S. August ISM manufacturing data came in below expectations, but prices are still high. Market expectations for a 25-basis-point rate hike in September briefly climbed to 65%.
Oil prices are back above $90, while BTC is still hovering around $78,000.
The rate hike hasn’t arrived yet—sentiment has already been loaded to the max
The real test ahead will still be Friday’s Non-Farm Payrolls
——————————————————————————————————
After scrolling through the first day of September, the biggest takeaway is:
The wall between Crypto and traditional finance is getting thinner and thinner
Banks are starting to study using Crypto as collateral; crypto exchanges are starting to bring U.S. stocks in
In the past, both sides wanted to enter the other’s market
Now, it’s simpler—both sides are just starting to steal business from each other directly.
On the first day of September, the market on-screen didn’t move much, but the drama outside was anything but light
1️⃣ Russia brings Crypto into banks
With new regulations now rolling out, Russia’s largest commercial bank, Sberbank, is expected to have compliant Crypto trading volumes of up to $46.4 billion in its first year, and it’s also preparing to accept BTC, ETH, and USDT-backed loans once regulators allow it
Previously, people used their homes as collateral; later, they may use BTC to borrow money from banks—maybe this really isn’t a new storyline anymore
2️⃣ Binance turns around to grab the Wall Street lunch tray
Binance has listed over 1,000 options on U.S. stocks and ETFs. Reportedly, the August TradFi perpetual futures contract trading volume already reached $433.4 billion.
Previously, it was Wall Street that packaged BTC into ETFs and sold them to retail investors.
Now, crypto exchanges are bringing U.S. stocks over to the crypto side to play.
3️⃣ Should September raise rates? The debate starts all over again
The U.S. August ISM manufacturing data came in below expectations, but prices are still high. Market expectations for a 25-basis-point rate hike in September briefly climbed to 65%.
Oil prices are back above $90, while BTC is still hovering around $78,000.
The rate hike hasn’t arrived yet—sentiment has already been loaded to the max
The real test ahead will still be Friday’s Non-Farm Payrolls
——————————————————————————————————
After scrolling through the first day of September, the biggest takeaway is:
The wall between Crypto and traditional finance is getting thinner and thinner
Banks are starting to study using Crypto as collateral; crypto exchanges are starting to bring U.S. stocks in
In the past, both sides wanted to enter the other’s market
Now, it’s simpler—both sides are just starting to steal business from each other directly.
