Crypto’s largest tokens were close to unchanged on Thursday as the semiconductor selloff that has driven markets for two weeks showed its first real sign of easing.
Ether traded at about $1,905 and bitcoin at $64,100, both flat on the day, with XRP at $1.07, solana at $74, BNB at $572 and TRON at 33 cents. Hyperliquid’s HYPE slipped to $54. Volumes were modest, with roughly $28 billion changing hands in bitcoin and $10 billion in ether.
Electronics giant Samsung said chip profit rose more than 250-fold on AI memory shortages, and the Kospi swung between a 6% gain and a 2% loss before settling, after a stretch that took the index down more than 40% from its June peak.
Samsung’s reaction is the tell on how high the bar has become. Profit up 250-fold moved the shares 2%. SK Hynix reported profit up 557% on Wednesday and fell 17%. Results are not the problem, expectations are.
U.S. 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.