News/Daily Market Wrap | Aug. 12 Daily Market Wrap | Aug. 12
Aug 12,2025,15:48
Hot Topics
- Singapore Exchange plans to launch crypto perpetual futures for institutional investors, pending MAS approval.
- Global crypto market reached an all-time high of $4.1 trillion, driven by surges in Bitcoin and Ethereum.
- RBA Governor Michele Bullock signaled a few more interest rate cuts after the bank unanimously lowered its key rate to 3.6%.
Market Updates
- Bitcoin's market capitalisation surpassed Amazon's at $2.45 trillion, ranking sixth globally behind gold and real estate.
- Bitcoin surpassed $122,000 and Ethereum rose 20% to over $4,300, with $57B in options signalling caution before the US CPI release.
- S&P Global Ratings assigned Sky Protocol a B-credit rating, marking the first time a major agency rated a DeFi protocol.
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