The beginning of August has shaken the markets and created uncertainty among investors. So what can we expect for the week ahead and what are the dates to watch? Here are the big events of the week, from token unlocks to macro data.
Tuesday, August 20 – Avalanche (AVAX) Unlock and Inflation in Europe
Avalanche (AVAX) to Conduct Major Unlock Early This Week. $200 million worth of AVAX will be released. This corresponds to 2.59% of the supply. The vast majority of the AVAX released will go to the teams that are piloting the project.
💡 Not to be missed – The top 5 token unlocks to know in August 2024
On the macro side, we will be waiting for several inflation figures in the coming days. In Canada to start with, but also in the Eurozone. The European Union will indeed publish 2 series of data. On the one hand, the balance of payments for June, but also and above all the inflation figures for July.
Just like inflation in France, inflation in Europe is expected to increase slightly. This could call into question the September rate cut scenario.which was envisaged until then.
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Thursday 22 August – Space ID (ID) unlock and Central Banks meeting
This Thursday, the Space ID protocol will proceed with an unlock. 18.49 million tokens will be released, representing 4.29% of the total supply.. This is a sum of more than $6.5 million. Space ID is a Universal Domain Name System (UNS) protocol and identity service for Web3 domains.
👉 Further reading – What is a blockchain domain name?
On the macro side, Annual Central Bank Meeting at Jackson Hole Economic Symposium to BeginMajor central banks will discuss their monetary policies, which could influence the Forex markets.
Friday, August 23 – Jerome Powell’s speech
On August 23, eyes will also be turned towards the United States. Federal Reserve Chairman Jerome Powell will deliver a speech. As August draws to a close, his remarks will be particularly closely watched, because whether or not the Fed maintains rates could have very broad consequences.
Saturday August 24 – Galxe unlock (GAL)
Galxe describes itself as a “super app” that provides identification and identity verification services. The protocol will proceed with a significant unlock this week. 1 million GAL will be released, or 0.8% of the supply. This corresponds to a sum of 1.5 million dollars.
Also to watch this week…
Other highlights of the week include an upcoming change for Eigenlayer (EIGEN). The protocol will launch support for permissionless tokens on its mainnet in the coming days. This is a small revolution for the protocol: it will in fact allow any asset to be retaken.
🌐 Don’t miss our guide – What is EigenLayer? Everything you need to know about the retaking protocol for Ethereum
Another event to note is on the Babylon side. This is a BTC staking protocol that will launch its mainnet this weekIt had completed a $70 million financing round last spring.
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A journalist at Cryptoast since 2017, I am passionate about the issues of decentralization, privacy and regulation. I specialize in traditional economics and finance, analyzing how news from this sector influences the cryptocurrency sector, offering a unique and informed perspective to Cryptoast readers.
Marine Debelloir
3102 articles
