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🇦🇪 #USDT Tether,
Phoenix
Group PLC, and Green Acorn Investments plan to launch a regulated stablecoin pegged to the dirham in the UAE.
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➡️Jerome Powell, Chair of the Federal Reserve: It’s time to adjust the Fed's monetary policy (lower the rate). ▪️ We will do everything possible to support a strong labor market. ▪️ The timing and pace of rate cuts depend on macroeconomic data and the balance of risks. ▪️ Inflation is steadily moving towards the 2% target. ▪️ We have made significant progress in achieving price stability without causing a sharp rise in unemployment Isn’t this a celebration, folks?🙂#PowellAtJacksonHole #CryptoMarketMoves $BTC $USDC $ETH
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❗️Insider Information? ➡️Powell is set to speak at Jackson Hole this Friday and may mention that the Fed is ready to cut rates by 50 basis points. If Jerome Powell indeed announces the Fed’s readiness to lower interest rates by 50 basis points, it could trigger significant movement in the crypto market. Here are some possible scenarios: 🟠Cryptocurrency Growth🔼: Lower rates could boost interest in riskier assets, including cryptocurrencies. As rates fall, access to cheaper money increases, which could lead to more investments in volatile assets like Bitcoin and altcoins. 🟠Weaker US Dollar📉: A rate cut usually leads to a weaker national currency. If the dollar weakens, it may enhance the appeal of cryptocurrencies as an alternative store of value. 🟠Increased Liquidity📈: A more accommodative monetary policy boosts market liquidity. This could result in higher trading volumes and rising crypto prices. ➡️However, the impact will depend on how market participants interpret Powell's statement, as well as other macroeconomic factors and overall market sentiment. In any case, if this insider information proves true, the crypto market could see a sharp rise in the short term.$BTC
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💸In El Salvador, 474 #BTC have been mined using geothermal energy from volcanoes. Since September 2021, El Salvador has mined 474 BTC (approximately $27.7 million) using geothermal energy from volcanoes, according to Vivek Sen, a trader and co-founder of Bitgrow Lab. Cryptocurrency mining using alternative energy sources is a joint project between the government of El Salvador and several companies, including Foundry USA, Antpool, ViaBTC, F2Pool, and Binance Pool. El Salvador's total bitcoin reserves are valued at $333.3 million, according to Nayibtracker. The country has accumulated 5,846 BTC and continues to buy 1 BTC daily. $BTC
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❓ What did crypto whales buy last week? Despite the volatile market, crypto whales have been actively accumulating certain altcoins: ⚫️#Litecoin ($LTC): One of the oldest altcoins, $LTC saw a significant increase in large holder inflows, according to IntoTheBlock. This indicates that whales have been accumulating more $LTC than they’ve been selling. ⚫️#Polygon ($MATIC): Data from Santiment shows that addresses holding between 100,000 to 1 million tokens and 10 million to 100 million tokens have increased their $MATIC reserves significantly. Whales seem to be positioning themselves ahead of the upcoming transition to $POL, set for September 4. ⚫️#Avalanche ($AVAX): The native token of the Avalanche blockchain saw a 36% rise in large holder inflows. However, $AVAX has been experiencing a price drop, likely due to the upcoming token unlock scheduled for August 19. 🐋Whales appear to be positioning themselves strategically amid both upcoming events and market dips. 💡If you found the information useful, drop a 👍 $LTC $MATIC $LTC
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BlackRock and Fidelity 🇺🇸 have increased their investments in Bitcoin ETFs to a total of 525,582 BTC, valued at $31.1 billion.$BTC #BlackRockETHOptions #bitcoinnewsupdate
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