US unemployment data âcould rekindle speculation about a substantial rate cutâ
Jean-Paul van Oudheusden, market analyst at eToro. The expert predicts that, with the US labour market cooling and inflation falling, the Fed is expected to follow the ECBâs lead and start lowering interest rates. In his opinion, an increase in unemployment could ârekindle speculation about a substantial 50 basis point cutâ. In his opinion, âmarkets are anticipating a 100 basis point reduction by the end of 2024, with another 100 basis points expected in 2025â.
US GDP: âShould give investors confidence that the Fed can orchestrate a soft landingâ
eToro on the US GDP data. âWhile we are not necessarily out of the woods, the US economy is more resilient than many believe.
Todayâs report should give investors confidence that the Federal Reserve can still orchestrate a soft landing,â says Bret Kenwell, investment analyst at eToro.
After a lackluster first quarter, revised GDP growth in the second quarter remained strong, helping to reassure investors that the economy is not faltering.
While the labor market has seen some weakness in recent months, other economic data shows that consumers are still spending, as evidenced by personal consumption, which leads todayâs revised reading.
Despite the upward revision to the second quarter, the Federal Reserve is unlikely to alter its plans to cut rates at next month's meeting, after Chairman Powell made clear that the time has come to shift policy toward lower rates.
That's because the Fed is looking at a set of data, not a single indicator, and won't alter its plans because of any particular report.
While we're not necessarily out of the woods, the U.S. economy is more resilient than many believe. Today's report should give investors confidence that the Fed can still orchestrate a soft landing.
This content is for informational and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. CFDs are leveraged products and carry a high risk to your capital
Binance Pay partners with Banking Circle to launch EURI payments
Madrid, August 29, 2024 - Banking Circle S.A., the innovative technology-driven payments bank, has entered into an agreement with Binance Pay, a leader in cryptocurrency contactless payments technology, to facilitate EURI payments on the Binance Pay platform. The integration of EURI into Binance Pay allows users to transact with this stablecoin with ease, improving the utility of digital currencies in everyday financial transactions. On August 28, 2024, Binance became the first digital asset trading platform to support EURI, Banking Circleâs inaugural e-money token that is compliant with the Markets in Cryptoassets Regulation (MiCAR).
Jerome Powell at Jackson Hole: 'I've Delivered What Investors Were Hoping For: Clarity on Rate Cuts' $BTC
Bret Kenwell, US Investment Analyst for eToro
- Federal Reserve Chairman Powell today delivered in his Jackson Hole speech what investors were hoping for: clarity on rate cuts. Powell acknowledged diminishing risks to inflation and rising risks to employment, saying the time has come for the Fed to tighten policy.
- When it comes to timing, it's nearly impossible for the Fed to 'thread the needle'. Either they appear to cut rates too early and risk a reflationary response, or they appear to cut rates too late and risk a labor market collapse. This is the reality of being data-driven.
- Some investors might have hoped for clarity regarding the size of the rate cuts, but that was always going to be a long shot. Ultimately, Chairman Powell delivered what the market craved: certainty regarding the Fed's monetary policy going forward, opening the door to the first rate cut in more than four years.
Investors will look to Jackson Hole for more assurances and clues about the extent of the cut
âMost Fed members wanted more data on inflation before cutting rates, which speaks to their concern about cutting too soon and risking a reflationary response,â says Bret Kenwell, investment analyst at eToro. Ahead of the Jackson Hole symposium, which kicks off today, Powellâs speech âwill be closely scrutinizedâ: âInvestors will be looking for more assurances on this and possibly clues about the magnitude of the cut,â he stresses.
Over the past few months, cryptocurrency adoption in the European region has grown dramatically.
According to a recent Chainalysis report, Europe has become the worldâs largest digital economy, with over $1 trillion in cryptocurrency transactions, representing 25% of global activity. The report has positioned Europe as the second largest market for cryptocurrency transactions internationally. Statist has confirmed the positive growth trend of the European market, reporting that the market will experience rapid growth over the next 4 years, growing at a compound annual rate of 8.29%, rising from $12.6 billion this year to âŹ17.3 billion by 2028.
RootstockLabs and mimLABS join forces in global campaign to promote DeFi education in Bitcoin
RootstockLabs and mimLABS join forces in global campaign to promote DeFi education in Bitcoin and deepen decentralization Wednesday, August 7, 2024 - RootstockLabs and mimLABS announce a global campaign to promote education and deepen decentralization. âRootstock World Tourâ is a global initiative that allocates $33,000 in prizes to raise awareness about the Bitcoin Layer 2 with the longest track record and TVL of all. The tour consists of 10 missions, each in a different destination within the Rootstock ecosystem.
Guilherme Nazar's perspectives on recent market volatility and its impact
âThe sharp drop in cryptocurrency and stock prices in recent days can be attributed to a mix of macroeconomic and cryptocurrency-specific factors, although the former appear to carry more weight at the moment.
Latam, August 5, 2024.- From a macroeconomic perspective, last week was characterized by significant volatility on Wall Street. Major stock market indexes and futures fell sharply into the weekend, driven by growing fears of a recession. These concerns intensified with the release of the US jobs report on Friday, which raised concerns about the strength of economic growth. Additionally, ongoing geopolitical tensions have contributed to market uncertainty and instability.
MARA, bitcoin miner, buys $100 million worth of bitcoin
Bitcoin miner MARA (Marathon Digital Holdings) announced last week that it purchased $100 million worth of bitcoin and is once again adopting a HODL strategy âeffective immediately.â
MARA now owns over 20,000 bitcoins, approximately $1.3 billion at current market prices, demonstrating its confidence in bitcoin as a leading reserve asset and its long-term value.
Regarding the HODL strategy, the company plans to retain all mined bitcoins and make strategic purchases on the open market from time to time in the future.
Following the revamped strategy, MARA will leverage existing cash on its balance sheet and capital markets to fund operations in the future, MARA CFO Salman Khan told The Block. #bitcoin #btc #mineriacripto $BTC
Michigan State Retirement System Reports Holding Shares in Bitcoin Spot ETF
In its recent 13-F filing with the SEC, the State of Michigan Retirement System reported holding 110,000 shares ($6.6 million) in the ARK/21Shares ARKB bitcoin spot ETF.
Michigan becomes the second US state to disclose exposure to bitcoin after the Wisconsin State Investment Board (SWIB) reported in May that it owns shares in BlackRock's iShares Bitcoin Trust (IBIT) and Grayscale's GBTC.
Additionally, Jersey City Mayor Steven Fulop last week announced a plan to allocate a percentage of the city's pension fund to purchase bitcoin ETFs. We could see more state pension funds follow suit, or even disclose exposure to bitcoin in future 13-F filings.
This content is for informational and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. CFDs are leveraged products and carry a high risk to your capital.
Michael Saylor, co-founder and president of MicroStrategy, has made a surprising prediction about the future value of Bitcoin.
In his most recent speech, Saylor predicted that the price of Bitcoin could reach $13 million per coin in 2045, with a potential range going from a low of $3 million to a high of $49 million per Bitcoin in a scenario optimistic.
Saylor maintains that factors such as institutional adoption, Bitcoin scarcity, and the strengthening dollar will support this impressive growth. According to him, Bitcoin could absorb up to 22% of global wealth in the most favorable scenario, which would justify such a high valuation.
These projections underscore Saylor's extremely optimistic view of the future of Bitcoin and its potential to revolutionize the global financial system.
Bitcoin Conference 2024: Donald Trump shows the way to Bitcoin.
The Future of Bitcoin in the United States: Reflections on Donald Trump's Statements
Donald Trump's recent statements, within the framework of the Bitcoin Conference 2024, held in the city of Nashville (USA) about the future of Bitcoin in the United States, have generated a deep and broad debate among economists, technologists and citizens. His proposal to create a strategic national reserve of one million Bitcoins and his promise to halt any efforts towards the creation of a central bank digital currency (CBDC) raise important questions about the role of cryptocurrencies in the modern economy and the future of financial regulation in the United States.
The NEAR Foundation (NF), in collaboration with Gauntlet, has announced a new governance proposal.
The initiative for the new governance design is carried out between both parties and seeks to increase decentralization and improve stakeholder control. The proposal introduces a stake-weighted voting system, where veNEAR tokens play a vital role. The key role of Meta Pool and stNEAR Meta Pool, one of the fastest growing DAOs internationally has moved forward with the expansion of its stNEAR token.
"Inflation data increases confidence in a Fed rate cut"
Today's data should "increase investor confidence in a Fed rate cut sometime in the coming months," says Bret Kenwell.
Although some investors are considering the possibility of a cut in July, he states that âthe normal thing would be in September.â Regarding the possible reaction of the S&P500, he considers that âin the short term, it could be more moderate than expectedâ due to the recent rise in the US selective.Â
The June CPI report is a continuation of the recent trend of moderation in inflation. Today's report should increase investor confidence in a Fed rate cut at some point in the coming months, especially given the recent weakness in the labor market.
The latest inflation reports have been in line or below expectations. Combined with the recent weakness in the labor market, the Federal Reserve is likely preparing a rate cut. Some investors are wondering if a cut could come in July. Although it may be too early for the Federal Reserve, a cut in September would be normal.
Energy and goods weighed on the CPI results, while the stickier services component has finally started to cool a bit. If this trend continues, it will undoubtedly point to a rate cut by the Fed, which is still trying to orchestrate a soft landing.
The S&P 500 is likely to open at or near all-time highs, but the near-term reaction could be more muted than expected thanks to the S&P 500's recent rally. While today's CPI report is good news, the index It has risen in seven consecutive sessions and has set six consecutive all-time highs. Investors were waiting for good data and they got it. But in the short term, we may see some profit taking. $BTC $ETH $BNB
The importance of cybersecurity in the crypto industry
Over the last few years the cryptocurrency industry has grown dramatically, with thousands of people choosing to enter the crypto market.
The cryptocurrency industry has proven to be one of the most profitable markets globally. Statista reported that the profit from said market will reach a projected figure of US$51.5 billion by the end of the year. Various sources have reported that the number of cyberattacks carried out by hackers seeking to seize the cryptocurrencies of thousands of users globally has been increasing.
Chainlink announces collaboration with Fidelity International and Sygnum to introduce NAV data into the supply chain
Decentralized blockchain oracle network Chainlink last week announced a collaboration with Fidelity International and digital asset bank Sygnum to bring net asset value (NAV) data to the chain.
Net asset value is the value of an investment fund's assets minus liabilities. By adding NAV data to the chain, it can be accessed in real time, unlike current methods, which typically update the NAV after each trading day.
Collaboration provides transparency and accessibility around key asset data for Sygnum's on-chain representation of holdings in Fidelity International's $6.9 billion Institutional Liquidity Fund, where it tokenized $50 million of treasury reserves from Matter Labs on the zkSync blockchain. #chainlink $LINK $BTC
Nashville, TN â July 10, 2024 - The 45th President of the United States and presumptive Republican nominee, Donald Trump, will deliver a speech at Bitcoin 2024 in Nashville, TN. The announcement comes on the heels of Trumpâs public support for the American Bitcoin industry. This will be the first time a U.S. president publicly addresses the global Bitcoin community, marking this as a historic moment for the Bitcoin industry.
Trump is expected to deliver his speech on July 27, 2024, at 2pm on the eventâs main stage, which will be livestreamed to a global audience on the Bitcoin Conferenceâs official accounts. As the leading presidential candidate, Trump has promised to support the Bitcoin industry if he is re-elected in November. The current number of American Bitcoin investors is estimated to include 50 million people, many of whom identify as single-issue voters. "From the very first Bitcoin block mined, the vision of Bitcoin was always to create a better monetary and financial system for the world. Todayâs announcement that the former and future President of the United States will be addressing the global Bitcoin community is recognition of Bitcoinâs adoption and progress towards that original vision. This will be the most consequential political event in Bitcoinâs history and a defining cultural moment for our society." David Bailey, CEO of BTC Inc., the organizer of The Bitcoin Conference Bitcoin 2024, the annual installment of the Bitcoin Conference, opens its doors on July 25, 2024. The event expects more than 20,000 attendees, representing over 2,300 businesses, making it the largest gathering of Bitcoin investors, companies and enthusiasts in the world. "I will make sure that the future of Bitcoin will be made in the USA and not driven overseas. I will support the right to self-custody... And I will never allow the creation of the Central Bank Digital Currency." Donald J. Trump on Libertarian National Convention in Washington, D.C. 5/26/2024 As Bitcoin becomes a decisive political issue in the upcoming presidential election, Bitcoin 2024 has become a pivotal event for discussing the technologyâs future both domestically and abroad. United States Senator Bill Hagerty (R-TN), who will also be speaking at the event, provided the following statement: âAs Americans head to the polls this fall, their decision of who to lead our country will also determine the fate of Bitcoin here in the United States. Clearly President Donald J. Trump is the only candidate who can deliver for those who love prosperity and freedom.â In addition to Trump's appearance, Bitcoin 2024 will feature diverse content from close to 400 industry leaders, representing institutional finance, Bitcoin mining, software companies, economists, celebrities, artists, and athletes. The event offers business development and networking opportunities in a festival setting, featuring art, culture, music, and innovation. Since its inception in 2019, the conferenceâs popularity has created a significant economic impact to its host cities, with satellite events expanding into an entire week of Bitcoin-focused entertainment for thousands of people. Event Details: Date: July 25-27, 2024 Location: Music City Center, Nashville, Tennessee Agenda: Visit the website agenda Registration Information: To attend Bitcoin 2024 and hear Donald Trumpâs keynote speech, please visit the conference website to register. #trump $BTC #bitcoinâïž #BTCâ $ETH $BNB