The release
Released by the Department of Labor on 5 October 2023 at 8:30 AM EDT. Initial Jobless Claims rose to 216K for the week ending 30th Sep, from 215K in the week ending 23rd Sep.
It arrived at the same moment as International Trade Balance in Goods and Services, International Imports in Goods and Services, International Exports in Goods and Services and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.
How NEAR Protocol moved
NEAR Protocol was at $1.100 when the figure came out. Fifteen minutes later it was 0.91% lower, and an hour later unchanged. Its high-to-low range in the hour after was 0.91% of its price, against 0.91% in the hour before.
Measured by Clometrix
NEAR Protocol's volume ratio was 15.58x, against a typical 1.63x. Its volatility ratio could not be measured: the price barely moved through the rest of the day, so there is no ordinary quarter hour to compare against. The ratio compares the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change.
What made it matter
Since 2021, Initial Claims releases in the two weeks before a Fed decision have moved NEAR Protocol less than those at other times: a median volatility ratio of 1.07x across 89, against 1.31x across 193. This one was not within two weeks of a Fed decision.
Its record
Across 282 Initial Claims releases since 2021, NEAR Protocol's median volatility ratio is 1.24x.
Minute by minute
Each row is the time after the release, with the same length of time before it for comparison.
| After | High | Low | Close | Change | Range | Range before | Volume |
|---|---|---|---|---|---|---|---|
| 1 minute | 1.10 | 1.10 | 1.10 | 0.00% | 0.00% | 0.00% | 3,983 NEAR |
| 5 minutes | 1.10 | 1.10 | 1.10 | 0.00% | 0.00% | 0.00% | 18,003 NEAR |
| 10 minutes | 1.10 | 1.09 | 1.09 | -0.92% | 0.91% | 0.00% | 407,808 NEAR |
| 15 minutes | 1.10 | 1.09 | 1.09 | -0.92% | 0.91% | 0.00% | 450,047 NEAR |
| 30 minutes | 1.10 | 1.09 | 1.09 | -0.92% | 0.91% | 0.90% | 498,464 NEAR |
| 1 hour | 1.10 | 1.09 | 1.10 | 0.00% | 0.91% | 0.90% | 663,432 NEAR |
| 2 hours | 1.10 | 1.09 | 1.10 | 0.00% | 0.91% | 0.90% | 897,739 NEAR |
| 4 hours | 1.10 | 1.08 | 1.09 | -0.92% | 1.82% | 0.90% | 1.452M NEAR |
| 6 hours | 1.10 | 1.08 | 1.08 | -1.85% | 1.82% | 0.90% | 1.801M NEAR |
| 8 hours | 1.11 | 1.08 | 1.09 | -0.92% | 2.70% | 1.80% | 2.425M NEAR |
| 12 hours | 1.10 | 1.07 | 1.08 | -1.85% | 2.73% | 1.80% | 2.533M NEAR |
Every coin at this release
| Coin | Price swing | Usual for Initial Claims | Reaction |
|---|---|---|---|
| Bitcoin | 0.84x | 1.52x | Quiet |
| Ethereum | 1.31x | 1.47x | Quiet |
| XRP | 1.46x | 1.18x | Quiet |
| BNB | 1.00x | 1.42x | Quiet |
| Solana | 0.91x | 1.39x | Quiet |
| Dogecoin | 1.00x | 1.39x | Quiet |
| TRON | 1.01x | 1.33x | Quiet |
| Cardano | 1.00x | 1.35x | Quiet |
| Chainlink | 1.01x | 1.43x | Quiet |
| Sui | 1.49x | 1.24x | Quiet |
| Bitcoin Cash | 0.75x | 1.34x | Quiet |
| Hedera | 1.00x | 1.32x | Quiet |
| Avalanche | 2.54x | 1.42x | Strong |
| Litecoin | 1.07x | 1.38x | Quiet |
| Shiba Inu | 1.00x | 1.34x | Quiet |
| Uniswap | 1.00x | 1.35x | Quiet |
| Polkadot | 1.00x | 1.31x | Quiet |
| Aave | 0.81x | 1.38x | Quiet |
| NEAR Protocol | Not measured | 1.24x | - |
| Aptos | 0.50x | 1.41x | Quiet |
| Internet Computer | 0.00x | 1.46x | Quiet |
| POL (prev. MATIC) | 0.67x | 1.42x | Quiet |
| Filecoin | 1.00x | 1.27x | Quiet |
What is Initial Jobless Claims?
The weekly claims report is released Thursdays at 8:30 a.m. ET by the U.S. Department of Labor (DOL). Initial claims are new jobless claims filed by U.S. workers seeking unemployment compensation, included in the unemployment insurance weekly claims report. The report, published since 1967, includes a separate count of workers receiving unemployment insurance benefits, known as continuing claims.Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.