ilqdty daily2 min readRead the latest
crypto companies tripled their job postings last month while fewer people applied
bitcoin has gone nowhere for two weeks and the builders are hiring anyway.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 85,271 | +0.7% | +1.0% |
| $ETH | 2702.3 | +0.6% | +0.5% |
| $SOL | 121.2 | +1.4% | -0.6% |
| BTC.D | 59.1% | ||
| F&G | 65 greed |
01Crypto4 stories
- crypto job postings hit 1,241 in september, triple the month before, and applications fell under 20,000@CoinDesk
- the sec cleared six 3x leveraged crypto products, the first 3x bitcoin and ether in the ussec approval, via investing com
- blast, an ethereum layer 2 that once held $2.2 billion, is shutting down after collecting $1,793 of fees in septemberthe block
- chainalysis traced the $387M bitget hack to north korea, whose 2026 haul now passes $1 billiondecrypt
02Macro3 stories
- september payrolls added 29,000 jobs against 84,000 expectedcnbc
- traders cut the odds of an october fed hike to 17% after that misscnbc
- seven core opec+ members agreed to hold november oil quotas steadybloomberg
03Trends3 stories
- pumpfun on solana collected $2.31M of fees in the last day, and the ten most-traded new coins there did $134M of volume between themdefillama
- pumpswap, the trading venue attached to pumpfun on solana, took $31.7M of fees over seven days against $21.3M for uniswap v4 on ethereum. over thirty days uniswap is still ahead, $120.8M to $110.4Mdefillama
- $Agency ran +1124% on solana to a $21.5M market cap, while $STONK, at a $158.6M market cap, gave back 17%
04Today3 dates
- monday 10am ETthe ism services index for september, the first read on the bulk of the economy after the weak jobs number
- tuesdaya three-year treasury note auction, the first coupon supply since the payroll miss
- wednesday 2pm ETthe fed publishes its notes from the september 15 to 16 meeting, plus a 10-year auction that tests demand for long bonds
05My view
money showed up this week in the places where showing up costs something. bitcoin etfs took in $102.7M on friday, solana's network fees are running 4% above their own 30-day pace, and crypto firms are paying new salaries into a market that has been flat for fourteen days. those are decisions made by people with budgets.
the risk i'm tracking is what it costs to borrow. the ten-year closed friday at 5.28% and high yield credit spreads widened 44 basis points in five days, which is lenders charging more for weaker borrowers. it gets tested wednesday, the fed's notes and the 10-year auction on the same afternoon.
i change my mind if that auction goes badly and spreads keep widening, because then the quiet stops being accumulation and the small coins pay first. for now the people buying are the ones spending real cash to do it.
rest today. the week gets loud fast. monday we lock the f in.