The release
Released by the Department of Labor on 25 May 2023 at 8:30 AM EDT. Initial Jobless Claims rose to 227K for the week ending 20th May, from 225K in the week ending 13th May.
It arrived at the same moment as Gross Domestic Product Report 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 $1.580 when the figure came out. Fifteen minutes later it was 0.63% lower, and an hour later 0.63% lower. Its high-to-low range in the hour after was 0.63% of its price, against 1.9% in the hour before.
Measured by Clometrix
NEAR Protocol's volume ratio was 0.78x, 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 | 1.58 | 1.57 | 1.57 | -0.64% | 0.63% | 0.00% | 525 NEAR |
| 5 minutes | 1.58 | 1.57 | 1.57 | -0.64% | 0.63% | 0.63% | 9,261 NEAR |
| 10 minutes | 1.58 | 1.57 | 1.57 | -0.64% | 0.63% | 0.63% | 20,804 NEAR |
| 15 minutes | 1.58 | 1.57 | 1.57 | -0.64% | 0.63% | 0.63% | 31,696 NEAR |
| 30 minutes | 1.58 | 1.57 | 1.57 | -0.64% | 0.63% | 1.27% | 81,847 NEAR |
| 1 hour | 1.58 | 1.57 | 1.57 | -0.64% | 0.63% | 1.90% | 159,182 NEAR |
| 2 hours | 1.58 | 1.56 | 1.57 | -0.64% | 1.27% | 1.90% | 496,999 NEAR |
| 4 hours | 1.58 | 1.56 | 1.56 | -1.28% | 1.27% | 1.90% | 979,766 NEAR |
| 6 hours | 1.58 | 1.56 | 1.57 | -0.64% | 1.27% | 1.90% | 1.363M NEAR |
| 8 hours | 1.58 | 1.55 | 1.56 | -0.64% | 1.90% | 3.16% | 2.24M NEAR |
| 12 hours | 1.59 | 1.55 | 1.56 | -1.28% | 2.52% | 3.16% | 2.597M NEAR |
Every coin at this release
| Coin | Price swing | Usual for Initial Claims | Reaction |
|---|---|---|---|
| Bitcoin | 1.63x | 1.52x | Ordinary |
| Ethereum | 1.76x | 1.47x | Ordinary |
| XRP | 1.28x | 1.18x | Quiet |
| BNB | 1.79x | 1.42x | Ordinary |
| Solana | 1.49x | 1.39x | Quiet |
| Dogecoin | 1.79x | 1.39x | Ordinary |
| TRON | 0.83x | 1.33x | Quiet |
| Cardano | 1.37x | 1.35x | Quiet |
| Chainlink | 1.99x | 1.43x | Strong |
| Sui | 1.42x | 1.24x | Quiet |
| Bitcoin Cash | 1.99x | 1.34x | Strong |
| Hedera | 1.50x | 1.32x | Ordinary |
| Avalanche | 1.65x | 1.42x | Ordinary |
| Litecoin | 1.03x | 1.38x | Quiet |
| Shiba Inu | 1.33x | 1.34x | Quiet |
| Uniswap | 2.00x | 1.35x | Strong |
| Polkadot | 1.99x | 1.31x | Strong |
| Aave | 1.49x | 1.38x | Quiet |
| NEAR Protocol | Not measured | 1.24x | - |
| Aptos | 1.49x | 1.41x | Quiet |
| Internet Computer | 1.51x | 1.46x | Ordinary |
| POL (prev. MATIC) | 1.08x | 1.42x | Quiet |
| Filecoin | 2.00x | 1.27x | Strong |
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.