Weekly Highlights in Cryptocurrency: Uncover the Top 4 Crypto Catalysts You Shouldn't Miss!
The crypto market is gearing up for an exciting and potentially volatile week, with several significant events on the horizon.
Firstly, the second largest layer-2 network, Arbitrum, will unlock over $49.9 million worth of tokens. This move is expected to have a substantial impact on the market, as Arbitrum continues to gain traction and popularity.
In addition, ApeCoin will release over $9.69 million worth of coins, adding to the anticipation surrounding the crypto market.
The launch of Dogecoin and Ripple ETFs is another event that is generating buzz. These ETFs, to be published by REX Osprey, are expected to hit the market on Thursday. The launch of these ETFs could bring new dynamics to the market, as they represent the first US spot ETFs for both XRP (Ripple) and Dogecoin.
Other notable unlocks this week include Zetachain, which will unlock $8.6 million worth of coins, and a series of other projects such as Melania, LayerZero, Velo Finance, and Kaito.
The Altcoin Season Index has moved above 80, driven by top altcoins such as MYX Finance, MemeCore, OKB, Pudgy Penguins, Cronos, Story, and Mantle. This indicates a strong performance by altcoins, which could contribute to the overall market momentum.
Historically, the crypto market tends to perform well when the Federal Reserve cuts interest rates. This week, the US central bank (Federal Reserve) cut interest rates by 25 bps after a meeting that started on Tuesday, September 16, and ended on Wednesday, September 17. This decision could further boost the crypto market.
However, it's important to note that the crypto market can be highly risky and volatile. Always do your own research and use cold hard cash before investing.
Moreover, these funds are based on the Investment Company Act and may be more expensive. Therefore, investors and market watchers should pay attention to the details of these funds before making any investment decisions.
As we move into this important week, investors and market watchers should also pay attention to the Federal Reserve's decision, the movement of the altcoin season index, as well as the launch of new ETFs. The economy added only 22,000 jobs in August, and the unemployment rate rose to 4.3%. These economic indicators, along with the events in the crypto market, will likely shape the market's direction in the coming days.
As of now, Bitcoin's current price is Rp 1,922,082,275, with a market cap of Rp 38.429 trillion, trading volume of Rp 444,87 trillion, and circulating supply of Rp 19,923,296. Keep a close eye on these figures as they may provide insights into the market's trends.
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