Bitcoin and Ethereum started the week with a slight rise. Most of the top 10 cryptocurrencies by market cap have changed little with Dogecoin leading the dips. So, what developments will cryptocurrencies be affected by this week? Here are the expectations…
Watch out for these developments this week
Cryptocurrency markets are entering another very busy week. Moreover, this week is the last week of 2022. In this article, we will talk about a few developments that will be important during the week. Chief among these, of course, is the Christmas holidays. Today, markets in the US will be closed all day. Because Christmas is a public holiday.
Looking at the US markets, expectations for the US pending housing sales on December 28 will also be announced. On the other hand, on December 29, the number of people who will apply for unemployment benefits in the USA will be announced. The number of people expected to apply for unemployment benefits this month is 225 thousand. In the previous month, this number was 216 thousand.
Some cryptocurrencies will be unlocked
In addition, the market will be affected by a development on 27, 30 and 31 December. On December 27, the Ronin (RON) and Yield Guild Games (YGG) tokens will be unlocked. Approximately 7.3 million RON and 14.9 million YGG will enter the market. On December 30, 220 million 1inch (1INCH) will be unlocked. On December 31, 18 million ImmutableX (IMX) will be unlocked. cryptocoin.com As we have also reported, unlocking coins is important for the cryptocurrency space. On the other hand, mainnet 2.0 version of Chiliz (CHZ) will enter the markets on 31 December. Axie Infinity (AXS) will enter the alpha process in the land sale.
What is the latest situation in the market?
Meanwhile, Bitcoin traded at $16,857, up 0.14 percent in the last 24 hours. Ethereum rose 0.15% to $1,220 on Monday, according to data from CoinMarketCap. Dogecoin was the biggest loser among the top 10 cryptos, trading at $0.07563, down 1.87% in the last 24 hours. Binance’s BNB token is down 0.72% in the last 24 hours to trade at $243.32. The world’s largest cryptocurrency exchange, Binance, is accused of deliberately causing the crash of Bahamas-based FTX.com, once the second largest exchange. In addition, according to some reports, Binance may also be investigated by the US Department of Justice for money laundering violations.
XRP is trading at $0.3512, up 0.64 percent after falling 1.64% in the morning hours. Stock markets in the US and Hong Kong were closed on Monday for Christmas. US equities rose on Friday after closing the week with losses amid fears of a new recession. On Friday, the Nasdaq rose 0.2%, the S&P 500 0.6% and the Dow Jones 0.5%. The US central bank increased interest rates by half a point this month, after the consumer price index, an important inflation indicator, increased by 7.1% in November compared to the previous year. Federal Reserve Chairman Jerome Powell said there will be more rate hikes next year even as the economy moves towards a potential recession.