How Sui reacted to Initial Jobless Claims on 8 August 2024

Measured by Clometrix

Sui's volatility ratio was 2.11x, against 1.24x for a typical Initial Claims release since 2021. Its volume ratio was 2.91x, against a typical 1.50x. That is a strong reaction by this release's own standard. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.

How Sui moved

Sui was at $0.6445 when the figure came out. Fifteen minutes later it was 1.66% higher, and an hour later 4.84% higher. Its high-to-low range in the hour after was 5.82% of its price, against 2.2% in the hour before.

The release

Released by the Department of Labor on 8 August 2024 at 8:30 AM EDT. Initial Jobless Claims fell to 234K for the week ending 3rd Aug, from 248K in the week ending 27th Jul.

It arrived at the same moment as Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

What made it matter

Since 2021, Initial Claims releases in the two weeks before a Fed decision have moved Sui more than those at other times: a median volatility ratio of 1.35x across 54, against 1.10x across 122. This one was not within two weeks of a Fed decision. Its own ratio of 2.11x compares with 1.10x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 176 Initial Claims releases since 2021, Sui's median volatility ratio is 1.24x.

How it compares

Across 176 Initial Claims releases since 2021, Sui's usual price swing is 1.24x. This one was 1.71 times the usual.

MutedOrdinaryStrongExceptional

Thin line: Initial Claims's usual, 1.24x. Thick line: this release, 2.11x.

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	0.6522	0.6445	0.6513	1.04%	1.18%	0.19%	256,971 SUI
5 minutes	0.661	0.6445	0.6603	2.39%	2.50%	0.34%	1.022M SUI
10 minutes	0.6613	0.6445	0.656	1.75%	2.54%	0.56%	1.713M SUI
15 minutes	0.6613	0.6445	0.6552	1.63%	2.54%	0.79%	2.257M SUI
30 minutes	0.6637	0.6445	0.6626	2.73%	2.89%	1.89%	2.998M SUI
1 hour	0.682	0.6445	0.6757	4.62%	5.50%	2.16%	6.304M SUI
2 hours	0.6975	0.6445	0.6896	6.54%	7.60%	2.16%	13.392M SUI
4 hours	0.7208	0.6445	0.717	10.11%	10.59%	3.03%	26.366M SUI
6 hours	0.7282	0.6445	0.7268	11.32%	11.49%	3.89%	32.925M SUI
8 hours	0.7208	0.6378	0.717	11.00%	11.51%	9.04%	34.596M SUI
12 hours	0.8709	0.6445	0.8559	24.70%	26.00%	9.04%	84.422M SUI

Every coin at this release

Coin	Price swing	Usual for Initial Claims	Reaction
Bitcoin	4.82x	1.52x	Exceptional
Ethereum	5.52x	1.47x	Exceptional
XRP	2.25x	1.18x	Strong
BNB	3.77x	1.42x	Exceptional
Solana	4.27x	1.39x	Exceptional
Dogecoin	7.20x	1.39x	Exceptional
TRON	2.50x	1.33x	Strong
Cardano	4.33x	1.35x	Exceptional
Chainlink	5.16x	1.43x	Exceptional
Sui	2.11x	1.24x	Strong
Bitcoin Cash	4.38x	1.34x	Exceptional
Hedera	4.38x	1.32x	Exceptional
Avalanche	4.82x	1.42x	Exceptional
Litecoin	3.83x	1.38x	Exceptional
Shiba Inu	4.23x	1.34x	Exceptional
Uniswap	4.04x	1.35x	Exceptional
Polkadot	4.13x	1.31x	Exceptional
Aave	3.33x	1.38x	Exceptional
Bittensor	2.74x	1.41x	Strong
NEAR Protocol	3.61x	1.24x	Exceptional
Aptos	3.97x	1.41x	Exceptional
Internet Computer	4.38x	1.46x	Exceptional
POL (prev. MATIC)	4.13x	1.42x	Exceptional
Filecoin	4.50x	1.27x	Exceptional

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.

Every Initial Claims release for Sui

Questions about this page

Is 2.11x a lot?

For an Initial Claims release it is strong: the usual is 1.24x. Each report has its own usual size, and its releases show it.

Will the next Initial Claims do the same?

Nobody can say. A forecast shows the range Sui moved in after past Initial Claims releases, so you can plan for the likely size of the move.

Do weekly jobless claims move crypto?

Weekly jobless claims have a median Bitcoin price swing of 1.52x since 2021, which places Initial Claims and Continued Claims in Tier 3. They are released at 8:30 a.m. ET. When a claims release falls on the same minute as a bigger report, such as CPI, the reaction belongs to both. Clometrix measures 296 claims releases in the record since 2021.

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.