Good morning. Here’s what’s happening:

Prices: The price of Bitcoin is comfortably above $29,000. Investors are looking for assets which retain their value, according to one analyst.

Insights Captain Kirk speaks out about the potential of crypto in a Consensus-2023 discussion.

Bitcoin holds above $29K; Ether rises over $1.9K

Bitcoin, despite its worries about a slowing U.S. economy and renewed banking unrest, held comfortably above $29,000 during U.S. trading on Thursday.

In the last 24 hours, BTC, the largest cryptocurrency in terms of market capitalization, was trading at around $29,500. This is an increase of approximately 2.2%. BTC was trading at $30,000, close to its previous week’s highs but far off its peak of $31,000 in April. Investors seem to have forgotten about Wednesday’s dramatic swings, when BTC dropped to $27,200 after a massive liquidation of both short and long positions, and unfounded rumors that bitcoin was being sold by the U.S. Government and Mt. Before rebounding, the crypto market dipped to around $27,200 on Wednesday amid a mass liquidation of short and long positions. Separate unfounded rumors claimed that bitcoin was being sold by the U.S. government or from failed exchange Mt.

Bitcoin and other cryptos are resolutely resisting industry mishaps as well as macroeconomic uncertainty.

Michael Sonnenshein told CoinDesk TV that “resilience” was the key word. Sonnenshein is the CEO of Grayscale Investments a crypto asset management firm. He spoke on the first day of the Consensus conference 2023 in Austin, Texas. “Despite recent setbacks, whether it’s trust or certain businesses which were once integral to cryptocurrency that no longer exist, what we are seeing is resilience.”

Sonnenshein said: “It is really encouraging that time and time again, as this industry faces challenges, it shows its strengths and emerges stronger.”

Grayscale and CoinDesk are owned by the same company, Digital Currency Group.

Ether recently traded above $1,910 – up 0.8% since Wednesday. Some major cryptocurrencies have recently been marginally up, just a few hours after falling into the negative. The CoinDesk Market Index is a measure for crypto markets’ performance. It recently rose 0.8%.

The U.S. equity market rose after surprisingly high earnings from Microsoft, Alphabet, the parent company of Google, and Meta Platforms, which was announced most recently, overshadowed concerns about an unexpectedly slow 1.1% GDP growth and First Republic’s struggles. The Nasdaq composite, which is heavily focused on technology, and the S&P 500 with its strong technology component both rose 2.4% and 2 %.

Investors are now focusing on the Federal Open Market Committee’s (FOMC) decision next week. CME FedWatch tool currently shows an 87% chance of a third consecutive rate hike of 25 basis points. However, Edward Moya of foreign exchange market maker Oanda wrote in an email the U.S. Central Bank is close to ending such monetary hawkishness. Moya writes that the Federal Reserve can move forward with a few more rate increases, but then it will be over. The economic data released today painted a picture that the economy is slowing, that inflation is temporarily increasing, and that the labor market has softened.

Bob Baxley is the chief technology officer of Decentralized Finance platform Maverick Protocol. He told CoinDesk’s Jocelyn Yang, that bitcoin’s recent performance reflects investors’ confidence in its ability to maintain value, even in times of unrest.

Baxley, in an email to CoinDesk, said that “Bitcoin has clearly performed as the safe haven many hoped it would be.”

The Biggest Gainers

Biggest Losers

William Shatner speeds to Web3 in warp 9.

Infinite Connections was officially launched by the original “Star Trek Captain” and longtime Twitter Crypto Guy at CoinDesk’s Consensus 2020 conference.

Infinite Connections consists of two collections. Cosmic Explorer has 2,500 NFTs and features a Shatner avatar in 3D paired with artwork exploring scientific themes such as quantum physics or sonic vibratons. Each collection also features a physical action-figure of Captain James T. Kirk – the role for whom Shatner is most well known – each signed by Shatner and featuring a quote.

Timeless Voyager is the other collection, and it includes 1,000 NFTs with 2D art of the future technology and cosmos. The collection does not include an action figure, but “select holders” will be able to access unspecified IRL experiences.

Shatner stated backstage, “NFTs slowly are becoming more artistic.” These, developed by Orange Comet are some of the most artistic I’ve seen.

Shatner collaborated with Orange Comet to create and release the collection. The Web3 entertainment company raised $7 million during a recent funding round. The company also worked with former National Basketball Association stars Scottie P. Pippen and Sir Anthony Hopkins as well as the hit TV series ” The Walking Dead.”

Orange Comet CEO Dave Broome revealed at the conference how the deal was made with Shatner, and that Shatner’s intellect curiosity played a major role.

Broome stated, “This is an 92-year-old man who still is inquisitive and has the ability to embrace technology. He understands what it can do.” We want to bring William Shatner, with his millions of fans and the web3 platform.

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Important events

5:00 pm HKT/SGT (9:00 UTC). Eurozone gross domestic product s.a.

CoinDesk TV

If you haven’t seen it yet, here is the latest episode of “First Mover” on CoinDesk TV.

“First Mover”, a live broadcast of Consensus2023 in Austin, Texas was accompanied by special guests including Anthony Scaramucci (founder and managing partner at SkyBridge Capital), ShapeShift’s founder Erik Voorhees (founder of ShapeShift), Kathy Kraninger (Vice President, Regulatory Affairs, Solidus Labs), Rebecca Rettig (Chief Policy Officer, Polygon Labs) and Paul Brody, EY Global Blockchain Leader.

Arbitrum co-founder addresses DAO vote fiasco and dismisses allegations of ‘Decentralization Theatre’ : Offchain Labs’ CEO Steven Goldfeder made a point to distinguish his company which created Arbitrum from the newly formed Arbitrum DAO, now controlling it.

Bahamian Premier Doesn’t Regret FTX Philip Davis said the country was “open for business”.

Sustainable Bitcoin Protocol: Crusoe Energy Pilots a Waste Gas Methodology with Miner Crusoe Energy Crypto Miners, such as Crusoe use gas which would otherwise be wasted, and reduce methane emission.

Bitcoin’s ‘Estimated Leverage Rate’ Hits Lowest Since December 2021 : According to CryptoQuant, the estimated ratio shows how much leverage traders use on average.

Former a16z Engineering and Security Heavies to Launch Crypto Custody firm, Source : The venture capital giant has given its blessing and seed funding for the crypto custody firm, according to a source familiar with the plans.

James Rubin is the editor.