Cryptocurrency markets are closely watching several key macroeconomic events in the U.S. this month, which could have a considerable impact on cryptocurrencies. In particular, the Fed’s interest rate announcements will be a key data point in September. Favorable economic information usually has an impact on investor confidence in the cryptocurrency space. Over the course of […]
Market Highlights for the Week: Rates, Market, Oil
Friday’s August employment report will focus attention on the short holiday week as markets anticipate the Federal Reserve to start cutting rates later this month. Meanwhile, the Bank of Canada is set to implement another rate cut, oil prices will remain under pressure, and China will release new manufacturing data. Here is a look at […]
Dollar Awaits Payrolls, Euro Gains
The U.S. currency retreated slightly on Monday amid light trading due to the holiday, as traders await key labor market data as they look for signs of possible interest rate cuts by the Federal Reserve. This Monday, activity will be minimal due to the U.S. Labor Day vacation. Dollar Focuses on Payrolls Report The dollar […]
Bitcoin price today: drops to $59,000 as large token transfer worries investors
Bitcoin lost value on Wednesday, extending a sharp fall from the previous session’s drop, as the movement of a large volume of tokens on a well-known exchange stirred sentiment with fears of a major selling event. The world’s most important cryptocurrency posted a sharp drop, reversing its recent gains and falling below the $60,000 level. […]
BTC Millionaires Skyrocket 111% in Just One Year
2024 has been a positive year for the cryptocurrency industry. In the eight months that have passed this year, the number of cryptomillionaires has shot up by nearly 100% thanks to the boost the market has received from Bitcoin and Ethereum ETFs. According to a recent report by Henley & Partners, about 172,300 people around […]
Dollar Hovers Near Recent Lows, Labor Market Data Decisive
The U.S. dollar traded little changed in early European trading on Tuesday, supported somewhat by rising geopolitical tensions, although it remained near its recent lows ahead of the Federal Reserve’s impending interest rate cut. Job Market Data Boosts the Dollar The dollar rose on Tuesday as geopolitical tensions in the Middle East, Libya, and Ukraine […]
Cryptocurrencies Lead Spending in U.S. Elections
The cryptocurrency industry is influencing this year’s elections, to which it has contributed $119 million. Cryptocurrencies as major political backers Cryptocurrency companies have morphed into the biggest political funders of federal elections, contributing nearly half of the corporate money going into this year’s elections, according to data from the nonprofit consumer advocacy organization Public Citizen. […]
Market Highlights for the Week: Nvidia, Inflation, Gold
The rally in U.S. markets will come under scrutiny this week when chip manufacturing giant Nvidia’s (NVDA) results are released. U.S. inflation data is likely to bolster expectations for long-awaited rate cuts, while the Eurozone and Australia will also release inflation data that will influence the path of interest rates. Here is a summary of […]
Tether Launches Dirham-Backed Stablecoin in the UAE
Tether is partnering with Phoenix Group and Green Acorn Investments in the United Arab Emirates to create a dirham-linked stablecoin aimed at facilitating international trade and remittances. Tether, the largest stablecoin provider in the digital asset sector, has announced its plans to launch a new stablecoin pegged to the United Arab Emirates dirham (AED). According to […]
Dollar Rebounds but Continues Near Seven-Month Lows
The U.S. dollar rose in early European trading on Wednesday but remains near seven-month lows, as the Federal Reserve minutes from its last meeting and likely revisions to payroll data point to a rate cut next month. The dollar loses strength in anticipation of Fed minutes and payroll revisions The dollar has been under pressure, […]