#CryptoAMA #CryptoUnlock #altcoins #binance
Next week features a suite of important events—from Avalanche’s network upgrade and significant token unlocks to the Fed rate decision alongside key US economic data. Here’s what to keep on your radar:
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🔐 December 16 – ARB Token Unlock
Arbitrum (ARB) will unlock 92.65 million tokens, valued at approximately $95 million, representing 2.26% of its circulating supply.
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👉 December 16 – Avalanche Etna Upgrade
Avalanche is set to launch its Etna upgrade on December 16, 2024, introducing significant enhancements to its network. This upgrade aims to reduce the costs associated with deploying sovereign Avalanche Layer 1 blockchains by 99.9%, making it more accessible for developers to launch and customize their own chains within the Avalanche ecosystem. Additionally, the upgrade includes the removal of the 2,000 AVAX staking requirement for validators and the introduction of dynamic fee mechanisms on the P-Chain and C-Chain.
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🔐 December 17 – APE Token Unlock
ApeCoin (APE) will unlock 15.60 million tokens, valued at approximately $25 million, representing 2.16% of its circulating supply.
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📊 Fed Interest Rate Decision & US Economic Data Releases
- December 18 – FOMC Press Conference and Fed Interest Rate Decision
- December 19 – Q3 GDP Final Estimate
- December 20 – Core PCE Price Index
With last week’s inflation data showing a slight uptick, markets are strongly pricing in a 25 bps rate cut at the upcoming FOMC meeting, with a 96% probability according to the CME FedWatch Tool. While a 25 bps cut could be seen as bullish for markets, much of its impact is likely already priced in.
In addition to the rate decision, Fed Chair Jerome Powell will hold a press conference, which will be closely watched for insights into the Fed’s outlook on future rate cuts and the overall health of the US economy.
Two other important data releases to watch:
- Q3 GDP Final Estimate (December 19):
The final Q3 GDP estimate will confirm the US economy's performance during the quarter. A result consistent with the previous 2.8% growth figure would reinforce this year’s robust growth outlook. However, such strength could dampen expectations for further rate cuts, suggesting the economy remains resilient to current monetary policy.
- Core PCE Price Index (December 20):
The Core PCE, the Fed’s preferred inflation measure, tracks the average change in prices for goods and services. A decline could be seen bullish for markets, while persistent "sticky inflation" could weaken the case for additional rate cuts at the next meeting.
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That’s all for next week’s action! Keep an eye on these events, and we’ll be back with more updates in the next roundup!