As usual, today we will discuss the important developments expected in the cryptocurrency markets for you, early in the day. For the past few months, there has been a serious problem where macro data does not produce the expected results in terms of price. Even the recent Fed decision could not significantly move the BTC price. However, we have seen in the past that BTC has responded to even minor details with double-digit movements. So it is always beneficial for investors to keep an eye on important developments that may occur.
Important Crypto Developments of the Week
Altcoins, macroeconomic events, and many other things have been compiled for you. Just like every Sunday, today we will discuss the developments that can affect the prices of cryptocurrencies with detailed information.
Monday, August 14th
- 18:00 US Consumer Inflation Expectations (Previous: 3.8%)
- DYDX Testnet Launch
- Web3Conf India 2023 (Officials of 14 altcoins including GRT and MATIC will attend)
- SAND Token Unlocking ($133 Million)
Tuesday, August 15th
- 15:30 US Core Retail Sales (Monthly) (Previous: 0.2%)
- 15:30 Retail Sales (Monthly) (Expectation: 0.4% Previous: 0.2%)
- 18:00 Fed/Kashkari Speech
- Sei Network (SEI) Listings
- Blockchain Futurist Conf (XRP, ADA, and officials of 21 altcoins will attend)
Wednesday, August 16th
- 12:00 Eurozone Gross Domestic Product (GDP) (Annual) (Q2) (Expectation: 0.6% Previous: 1.1%)
- 15:30 US Building Permits (Expectation: 1.460 Previous: 1.441)
- 21:00 Fed Minutes
Thursday, August 17th
- 15:30 US Initial Jobless Claims (Previous: 248K)
- RNDR Bitkub Listing
- APE Token Unlocking ($30.89 Million)
Friday, July 18th
- 12:00 Eurozone Consumer Price Index (Expectation: 5.3% Previous: 5.5%)
- ROSE Token Unlocking ($8 Million)
What Will Happen to Cryptocurrencies?
On Monday, SAND will have an important token unlocking. If it does not announce any significant news, the $133 million unlocking can cause a significant drop in the price. Considering that the cumulative volume in cryptocurrencies has dropped to $16 billion, this would not be surprising. On the other hand, there are crypto events this week where popular altcoins can make important announcements.
On Tuesday, besides the US data, there will be listings for SEI Token. The volume may shift to this new cryptocurrency that day. Wednesday is the day of the Fed minutes, and we will see more details from Powell’s statements there.
