Market Analysis

The BTC hash rate has shown signs of sustained recovery following China’s crackdown while SegWit usage is at an all-time high. Today, we review select BTC blockchain metrics.
This is going to be a long slog that will have an impact on prices, just another reason to be prepared for upside risk in oil, gasoline, and diesel.
Smart contract assets in the Top 10 have added an aggregate USD 172 billion to their market caps over the past month while BTC dominance is at 42%, its lowest point since early June. We review key market stats.
This record number will be very important to remember because we know that supply and demand data out of the U.S. will be skewed in the coming weeks due to the devastation we’ve seen in Louisiana.
It’s important to note the ongoing differences between the ADP private payrolls survey and the official Nonfarm Payroll report due this Friday. Over the last 3 months, CNBC noted an average difference of 337,000 jobs between the reports.
Tether and Bitfinex have requested to block a Freedom of Information Law (FOIL) request from CoinDesk to have the New York Attorney General release “documents attesting to [USDt’s] reserve composition.”
OPEC+ still sees a global supply versus demand deficit, so even if they raise production at this meeting, perhaps next year we’ll see very little from them. 
Although there’s been a clear deviation from the ADP Payrolls read and the official Nonfarm data, markets will certainly be paying attention.
Solana (SOL) reached an all-time high market cap of USD 36.2 billion this morning. The network’s approach to blockchain scaling is unique among peers, but is unproven in practice.
It’s estimated that approximately 94.6% of the current oil production and approximately 93.57% of the gas production in the Gulf of Mexico has been shut in.