very Imp Week Ahead:12/08
Project Updates:
Aleph Zero will launch its EVM mainnet on August 12, 2024.
Aelf will complete its upgrade to version 1.10.0 by August 12, 2024.
Kelp DAO launches Gain, an airdrop farming tool, on Aug 13.
Delysium will integrate Lucy Beta with the Owlto Finance bridge on August 15, 2024.
ALEX Lab will integrate xBTC and xUSD into aBTC and sUSDT by August 15, 2024.
MakerDAO’s Grand Prix aims to onboard $1B in RWAs, with BlackRock expected to participate.
Frax Finance introduces frxBTC, a WBTC competitor.
Ethena’s proposal to add SOL as USDe backing goes live.

Macro:
PPI Inflation (Tuesday)
CPI Inflation (Wednesday)
Jobless Claims (Thursday)

Token Unlocks:
$APT $67.63m 2.40% ~ Aug 12
$SAND $53.68m 9.00% ~ Aug 14
$CYBER $5.92m 8.54% ~ Aug 14
$STRK $24.34m 3.95% ~ Aug 15
$ARB $54.28m 2.87% ~ Aug 16

Next week's market risk might come from PPI and CPI numbers, with market action driven by the US dollar, especially USD/JPY. Many are still short JPY and long on US Dollar assets, which may take some weeks or month to settle. A strong Yen could lead to more sell-offs in US stocks and crypto.

Good US data (PPI, CPI) could be bullish, while bad data weakens the dollar, strengthening the Yen, Some Token Unlocks trades worth monitoring with $SAND, 9.0%, $Cyber 8.54% of circulating supply unlocks.

FEDERAL RESERVE CHARGES CUSTOMERS BANK FOR ITS DIGITAL ASSET ACTIVITIES: FILING

Source: BBG [PAYWALL]
https://www.bloomberg.com/news/articles/2024-05-30/musk-counsels-trump-on-crypto-in-sign-of-billionaire-s-influence

Bloomberg.com

Musk Counsels Trump on Crypto in Sign of Billionaire’s Influence

Elon Musk and Donald Trump are discussing cryptocurrency policy as the former president increasingly highlights Bitcoin and other digital assets on the campaign trail as a way to reach new voters, according to a person familiar with the talks.

TERRAFORM, SEC REACH ~ SETTLEMENT IN PRINCIPLE’ ON LAWSUIT*

Polifi spiking, Trump coins doing 2x/5x, but this did not happen overnight. Trump started favoring crypto since 2020. He used to move SPX by just tweeting during NYC open; sometimes he even showed bad NFP data as good, just to move SPX to ATH, if you study…

$ETH ETF approved, it was in this chat; Detailed breakdown here: https://x.com/JSeyff/status/1793768108018266344

Trading in higher volatility can spike both buyers and sellers with liquidations.

You can utilize aggr.trade for real-time tick liquidations and volume data during CPI/ETF news to gauge the order book and volatility causing big liquidations. They also have an easy-to-use Chrome extension, which I've already shared here. And it's free

Big volatility day today, with the SEC ruling on the $ETH ETFs at 9 am EST.

There is a 90% chance the ETF will get approved, but the market will still be waiting for the final word.

Sell the news or buy the rally? Find out today.

$Blur 100b FDV at launch and a few millions now..

Since BLUR entered the unlocking cycle on June 15, 2023, a total of 23% (690.7 million) of BLUR has been unlocked and transferred to Coinbase Prime.