Crypto Markets Flat as Semiconductor Selloff Shows Signs of Easing
Crypto markets showed signs of easing from the recent semiconductor selloff on Thursday, but prices remained flat. Ether traded at $1,905 and Bitcoin at $64,100, with XRP at $1.07. The modest trading volumes saw roughly $28 billion change hands in bitcoin and $10 billion in ether.
The electronics giant Samsung reported a 250-fold surge in chip profit due to AI memory shortages, but its shares only rose by 2%. This indicates the high expectations investors have for companies' earnings. SK Hynix's profit jumped 557%, but its shares fell 17%.
US earnings were mixed overnight, with Microsoft gaining nearly 9% on its fastest cloud growth in four years and Meta falling 8% due to a weak revenue forecast. The Nasdaq 100 futures rose 1% after the index entered a technical correction on Wednesday.