As every week, this Sunday we have compiled the important developments for cryptocurrencies for you. Last week, we mentioned that the US inflation data could trigger volatility. Amid investors‘ optimism about April inflation data, this rise towards $67,000 was already expected. BTC increased by 10% as anticipated. So, what will happen next week?
Important Developments in Cryptocurrencies
Being aware of the calendar is important for crypto because major developments have significant impacts on prices. Investors prepared for volatility can turn the process to their advantage. One of the biggest events of the week will be the SEC’s decision on Spot Ether ETF. So, what are the other events?
Monday, May 20
- 15:45 Fed/Bostic
- 16:00 Fed/Barr and Waller will Speak
- 17:30 Fed/Jefferson
- 21:00 Fed/Mester
- PYTH Unlocking (2.13 Billion Units, $943 Million)
Tuesday, May 21
- 11:00 US Treasury Secretary Yellen will Speak
- Fed/Williams, Bostic, and Barr Statements
- Chiliz Dragon8 Hard Fork
Wednesday, May 22
- 21:00 Fed Minutes will be Released
- AVAX Unlocking ($354 Million)
- ID ($14 Million)
- NVIDIA Earnings Report
Thursday, May 23
- 15:30 US Unemployment Claims (Expectation: 221K Previous: 222K)
- 16:45 Manufacturing PMI (Expectation: 50.1 Previous: 50)
- 16:45 Services PMI (Expectation: 51.5 Previous: 51.3)
- 14:00 CBRT Interest Rate Decision
- VanEck Spot Ethereum ETF Final Decision Date
Friday, May 24
- ASI will be Launched (FET, AGIX, and OCEAN Merging)
- ARK&21Shares Spot Ethereum ETF Final Decision Date
Cryptocurrency Commentary
Throughout the week, we will constantly hear statements from Fed members. Both before the Fed minutes and after the recent inflation data, the comments will be quite important. There will be major unlockings, and starting from the beginning of the week, this situation may make investors anxious about the related altcoins.
NVIDIA earnings report is approaching. This situation is likely to bring activity to AI tokens. On the other hand, on Friday, 3 major AI altcoins will merge into a single token with the ASI project. This could bring volatility for tokens outside the trio. Investors will receive 1:1 tokens for FET Coin, while the ratio varies for others. So, probably the price of ASI Coin will be close to the price of FET. And finally, Spot Ethereum ETF decisions, we have talked about this extensively throughout the week and will continue to do so.
