Next Week in Crypto: Key Events to Watch (Dec 23rd - Dec 29th, 2024) 🗓
Next week brings a suite of events ranging from token unlocks to US economic data. Here’s what to keep on your radar:
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🔐 Token Unlocks
- December 25 – ENA Token Unlock
Ethena (ENA) will unlock 12.86 million tokens, valued at approximately $15 million, representing 0.44% of its circulating supply.
- December 27 – IMX Token Unlock
Immutable X (IMX) is set to unlock 24.52 million tokens, worth approximately $34 million, representing 1.45% of its circulating supply.
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📊 US Economic Data Releases
- December 26 – Initial Jobless Claims
This week’s U.S. economic developments have been nothing short of significant, with markets reacting negatively to the Fed’s revised projections indicating fewer rate cuts for 2025 and rising concerns over persistent inflation. According to the CME FedWatch Tool, the odds of a January rate cut have now diminished considerably.
Looking ahead to next week, the most notable economic data release will be the weekly Initial Jobless Claims report. While this data point alone isn't typically decisive enough to influence markets, lower claims would suggest a strong job market, potentially supporting the likelihood of fewer rate cuts in 2025—a scenario that could be seen as bearish for markets. Conversely, higher-than-expected claims would point to job market weakness, possibly increasing the chances of rate cuts, which might be viewed as bullish for markets.
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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!
