There have been two important developments for cryptocurrency markets in the last few minutes. As the article is being prepared, Fed member Barkin is speaking and FTX will sell new altcoins. BTC At the time of writing, it returned to $62,110, but the weakness in altcoins continues. So, what are the details of the developments in the last few minutes?
Fed and FTX
According to information provided by three different sources FTX The bankruptcy committee will hold an auction for 22.3 million locked WLD Tokens. Tokens worth approximately $38 million are expected to find buyers below their market value. A discount of between 40% and 75% is estimated for the token traded at $ 1.69. These altcoins will be unlocked piece by piece until 2028. Between December 1, 2024 and July 24, 2026, 20,539 tokens will be unlocked daily and 13,689 tokens will be unlocked daily thereafter. FTX Estate sold SOL and Metaplex (MPLX) tokens before WLD. A billion-dollar discounted token sale was completed in May.
FTX has it. altcoin There are only $594 million in assets, and almost all of them are assets that are difficult to convert into cash. $541 million portion FTT Token Considering that it is, trying to sell it may take the price to zero.
The second major development was the statements made by Fed member Barkin and he said;
- The 50 basis point rate cut in September was necessary because interest rates were “incompatible” with the decline in inflation and the unemployment rate being close to a sustainable level.
- The Fed cannot declare the inflation war over. I expect little decline in the Core PCE Price Index until next year.
- I’ll be watching closely to see how low interest rates affect home and auto sales to see if there’s a risk of demand outstripping supply.
- Recent labor protests and geopolitical conflicts are also among the inflation risks.
- The pace and scope of the rate-cutting cycle requires the Fed to pay attention to how the economy and inflation are evolving.
- The Fed’s rate cuts are meant to recalibrate to a less restrictive position.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
