Top Crypto Performers Today – Toncoin, XRP, Aave
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
At the start of a big week of macro events that could really shake things up in crypto markets, investors are looking at top crypto performers today that might stand a good chance of delivering fast gains.
Major cryptos like Bitcoin (BTC) and Ethereum (ETH) are moving sideways in the $59,000 and $2,600 areas as US equities crawl higher.
The minutes of the Fed’s last meeting will be released on Wednesday.
But they will be overshadowed by more relevant macro events, namely, Thursday’s US PMI data and Friday’s speech from Fed Chair Jerome Powell at the Jackson Hole symposium.
These two events could substantially shape expectations as the US economic outlook and outlook for rate cuts. Some think Powell might indicate the Fed’s willingness to cut interest rates by 50bps next month.
Jerome Powell will indicate that the Fed is open to a 50 bps interest rate cut during his speech at the Jackson Hole Economic Symposium according to analysts from Evercore pic.twitter.com/de1UZTpX9X
The Democrat convention will also take place this week, where sitting US Vice President Kamala Harris will be confirmed as the Democrat nominee for President.
Crypto market participants, who now seem to mostly favor Republican nominee Donald Trump given his more overtly pro-crypto stance, will be watching this event anxiously.
Kamala saw a significant rise in the polls in recent weeks, leading to her becoming the betting favorite for November’s election.
A further bump could dampen crypto sentiment.
All that said, let’s take a look at some top crypto
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