➡️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

🇦🇪 #USDT Tether, Phoenix Group PLC, and Green Acorn Investments plan to launch a regulated stablecoin pegged to the dirham in the UAE.

💸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

❓ 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

❗️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

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

#MarketDownturn
Dubai Court Recognizes Cryptocurrency for Salary Payments.

In a landmark decision, the Dubai Court of First Instance has recognized the payment of salaries in cryptocurrency under employment contracts, marking a significant shift in the United Arab Emirates (UAE)’s legal approach to digital currencies. The 2024 ruling, case number 1739 of 2024, contrasts with a 2023 decision where a similar claim was rejected due to the lack of clear valuation of the cryptocurrency involved. The case arose when an employee sued for unpaid wages, including 5,250 ecowatt tokens, which were not paid over six months. The 2024 ruling validated cryptocurrency as a legitimate form of remuneration, emphasizing the importance of honoring clear contractual agreements. The court relied on Article 912 of the UAE Civil Transactions Law and Federal Decree-Law No. (33) of 2021, highlighting a progressive interpretation that aligns with the evolving financial landscape. This decision sets a precedent for the broader acceptance of cryptocurrency in employment contracts in the UAE.$BTC $BTC $BTC #dubai

Top 3 Dog-Inspired Meme Tokens 🐶:

🟠Dogecoin (DOGE): The original and most popular dog-themed meme token, created as a joke in 2013, now holds a major spot in the crypto market.

🟠Shiba Inu (SHIB): Known as the "Doge Killer," Shiba Inu has built a massive community and ecosystem, aiming to be more than just a meme.

🟠Floki Inu (FLOKI): A newer meme token inspired by Elon Musk’s dog, it combines the fun of meme culture with utility-driven projects.

The market cap of #DOGS will be revealed on August 20.
$DOGE
$SHIB
$FLOKI

Toncoin (TON) is gaining attention in the crypto space, especially with its strong ties to Telegram, positioning it for widespread adoption. Built on The Open Network, TON offers unique features like lightning-fast transactions, scalability, and a robust decentralized ecosystem, making it a strong contender in the market.

Looking at the charts, TON is currently priced around $7 and could see growth towards $8 by the end of 2024. Predictions for 2025 are optimistic, with prices potentially reaching up to $13.51, driven by strategic upgrades like the TON Applications Chain and increased developer interest due to Ethereum compatibility. By 2030, some forecasts suggest it could surge as high as $82, assuming positive market trends and widespread adoption of its decentralized services.

If you're seeking a promising investment, Toncoin’s potential to thrive in the rapidly growing blockchain sector, combined with its innovative technology and strong backing from Telegram, makes it an exciting prospect【25†source】【26†source】【27†source】.
$TON #BinanceLaunchpoolTON #HamsterKombat