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September Blues, Arbitrum Goes Off, NFTs Aren’t Dead

Sep 13, 2021 · 4 min read

By Joo Kian, and Jeremy Ong

Market Update

Crypto markets looked muted today as L1 tokens continued to grind up. A fraudulent press release announcing Walmart would accept payments in Litecoin (LTC) made the rounds, leading to some short-term volatility earlier this morning. LTC jumped over 30% in a matter of minutes, only to drop back to its previous trading level.

A Fearful Market

Crypto markets recently moved into “fear,” as measured by the Fear & Greed index. For much of August, the market was in a state of “extreme greed” as prices rose across the board. September tends to be a negative month for crypto as a whole. While the month kicked off strong, sentiment has deteriorated rather quickly.

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