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US Non-farm Payrolls Rise By 315,000 in August; Bitcoin Drops Below $20K

Updated: Sep 6, 2022

Daily Market Wrap

  • Crypto market cap: 0.98 trillion, up 0.56%

  • BTC price stands at USD 19,857, up 0.26%

  • ETH price stands at USD 1,572, up 1.10%

  • Top gainer: Ravencoin (RVN), up 15.99%

  • Top loser: EOS (EOS), down 3.75%


News of the Day

Why it matters:

  • According to Investing.com, in seasonally adjusted terms, non-farm payrolls grew by 315,000 in August, slightly more than the expected 300,000 added positions

  • Bitcoin once again slipped below $20,000, as market uncertainty rose ahead of Friday’s Non-farm payrolls report

  • Meanwhile, the unemployment rate ticked up to 3.7% from 3.5% in August. The movement upward was largely attributable to hundreds of thousands of people entering the labor force, economists say


Crypto Daily Spotlight

Brief introduction: Cardano is a public blockchain platform. It is open-source and decentralized, with a proof of stake consensus. The Cardano blockchain can be used to build smart contracts, and also to create decentralized applications and protocols.

Why it matters:

  • After much anticipation, the Cardano Foundation has finally announced the official Vasil hard fork date confirmed for the Sept. 22

  • The update contains four Cardano Improvement Proposals (CIPs), including CIP-31, CIP-32, CIP-33, and CIP-40, which are designed to increase Cardano’s scaling capabilities and reduce transaction costs

  • “We anticipate a seamless technical transition, with no disruption for its users or a break in block production.” Research and development company Input Output said


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