Crypto’s biggest tokens were close to unchanged on Thursday as the semiconductor sell-off that has driven markets for two weeks showed its first real sign of easing.
Ether is trading at around $1,905 and bitcoin at $64,100, both unchanged on the day, with XRP at $1.07, solana at $74, BNB at $572 and TRON at 33 cents. Hyperliquids HYPE fell to $54. The volumes were modest, with about $28 billion changing hands in bitcoin and $10 billion in ether.
Electronics giant Samsung said chip profits surged more than 250 times due to AI memory shortages, and the Kospi fluctuated between a 6% gain and a 2% loss before settling, following a stretch that took the index down more than 40% from its peak in June.
Samsung’s reaction is telling of how high the bar has become. The profit increased 250 times the shares 2%. SK Hynix reported a 557% gain on Wednesday, falling 17%. Results are not the problem, expectations are.
US earnings split overnight. Microsoft gained nearly 9% in extended trading on its fastest cloud growth in four years, while Meta fell 8% on a weak revenue forecast. Nasdaq 100 futures rose 1% after the index entered a technical correction on Wednesday.
