The cryptocurrency market faces a crucial week ahead, with the Consumer Price Index (CPI) data scheduled for October 14, followed by the Producer Price Index (PPI) data on October 15.
The week will also see token unlocks worth over $100 million from Starknet (STRK), Connex (CONX), Arbitrum (ARB), and Cronos (CRO).
US Consumer Price Index And Producer Price Index Data
The US Bureau of Labor Statistics will release Consumer Price Index (CPI) data on October 14 and Producer Price Index (PPI) data on October 15. Most forecasts suggest a 0.6% monthly increase and a 3.6% annual increase, compared to previous CPI readings of 0.4% and 3.4%, respectively. However, these figures are forecasts and are not confirmed by the Bureau of Labor Statistics. Core CPI, which removes food and energy prices, is projected to rise 0.2% month-over-month and 2.4% annually.
The Producer Price Index (PPI) data will be released the following day and is predicted to increase 0.5% month-on-month and 5.3% annually. Meanwhile, core PPI is expected to rise 0.3% month-on-month and 4.4% annually. The US will also release retail sales data and weekly jobless claims on October 15.
The Federal Open Market Committee (FOMC) meeting is scheduled for October 27–28 and will announce its decision on interest rates on October 28. Market watchers expect interest rates to remain unchanged, while the outlook for December’s FOMC meeting remains undecided.
Several global data releases are also scheduled for the upcoming week. China will announce its September inflation data on October 13, and the UK will release its August GDP report on October 15. Lastly, the Eurozone’s September inflation numbers will be released on October 16.
Starknet, Connex, Arbitrum, And Cronos Set For Token Unlocks
Another major development this week is token unlocks from several key projects. Starknet (STRK) will unlock 3.37% of the circulating supply of the STRK token, valued at around $13.2 million, on October 15. Connex (CONX) will unlock 1.39% of its supply, worth $12.18 million, on the same day. Arbitrum (ARB) will unlock 1.56% of its ARB supply, valued at around $18.7 million on October 16, and Cronos (CRO) will unlock 2.33% of its CRO supply, valued at around $73.8 million.
Several key industry conferences are also scheduled this week. The Paradigm Frontiers conference is scheduled from October 12 to October 14 in San Francisco. This will be followed by the Pantera Blockchain Summit, also in San Francisco, on October 15. The Ledger Op3n conference will take place in Paris the same day, and BGIN Block 15 is scheduled for October 15–16 in Washington, D.C. Rounding off the conferences for the week is EDCON in Kuala Lumpur on October 17–18.
Ethereum Developers Set For Key Upgrade Meeting
The 189th All Core Developers Consensus call is scheduled for October 15 as Ethereum developers prepare for the Glamsterdam and Hegotá upgrades. The meeting will also discuss improvements to the hard fork development process. Glamsterdam introduces several changes to improve network efficiency and transaction processing, including protocol-level proposer-builder separation and block access lists. Glamsterdam was activated on the Sepolia testnet on October 6.
Hegotá is the next major upgrade and will bring changes to censorship resistance, transaction processing improvements, and new security features.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
https://www.cryptobreaking.com/big-week-for-crypto-us/?utm_source=blogger%20&utm_medium=social_auto&utm_campaign=Big%20Week%20For%20Crypto:%20US%20Inflation%20Data%20And%20Token%20Unlocks%20
Comments
Post a Comment