Last week was full of macro events, with several adjustments from central banks. This will also be the case this week, with monetary policy statements, as well as a first estimate of inflation in France. We will also have to watch for some large-scale token unlocks for certain crypto projects. What can we then predict?
Tuesday September 24 – Unlock of NEAR and Ribbon Finance (RBN)
This Tuesday, 2 major unlocks will be worth watching. First of all, that of Near (NEAR). The decentralized application platform will release more than 250,000 NEAR, or $1.2 million at the current price. However, this only corresponds to 0.02% of the cryptocurrency's capitalization.
💡 To understand everything – What is a token unlock and what are its implications?
On the same day, Ribbon Finance will also be unlocking. The decentralized finance (DeFi) protocol will release 10.5 million RBN tokens. This corresponds to a substantial sum: 4.18 million dollars, or 8.36% of the capitalization.
Wednesday, September 25 – Swedish Monetary Policy and Pintu Token (PTU) Unlock
This Wednesday, Sweden will share its monetary policy decision. In other words, the central bank could update its key ratesA decrease can be expected, as the institution had envisaged several gradual reductions by the end of the year.
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On the cryptocurrency side, an unlock is also to watch this week. Pintu Token will release a significant amount of PTU: almost 5 million, which corresponds to 21% of the capitalizationThe cryptocurrency exchange platform thus transfers a sum of more than a million dollars.
Thursday, September 26 – Swiss monetary policy, speeches by Christine Lagarde and Jerome Powell
Switzerland's monetary policy decision on Thursday is likely to be closely watched at a time when the European Central Bank (ECB) itself has lowered its key rates. The Swiss National Bank had already announced a reduction last March.
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Still on the macro side, the president of the ECB will speak in a speech that same day. In the United States, his American counterpart, Jerome Powell, will speak at a conference on the American bond market.Treasury Secretary Janet Yellen will also be there.
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Friday September 27 – inflation in France, unlock of Yield Guild Games (YGG)
This Friday, France will see the first results of inflation for September, published provisionally.As a reminder, the evolution of consumer prices had increased by 1.8% over one year last August, falling below the symbolic 2% mark.
👉 Read – Imminent tax increases? Recommendations from the Governor of the Bank of France to get things back on track
On the token unlock side, we will have to watch that of Yield Guild Games (YGG) on the same day. Web3 game creation platform to release over 9 million YGG tokens, representing 2.3% of its market capitalization. That's more than $4 million at current prices.
Also to watch this week…
Other events to watch this week include: There are possible announcements from major US banks that are considering offering Bitcoin (BTC) custody services..Michael Saylor, CEO of MicroStrategy, has been spreading rumors in recent days:
Credible rumors are circulating that one or more major banks in the US will soon be able to custody #Bitcoin. https://t.co/Zq9UzjoUjk
— Michael Saylor⚡️ (@saylor) September 20, 2024
This week, EtherFi is also conducting Season 3 of its airdrop. $37 million in ETHFI will be distributed in the coming days. You can check your eligibility on the EtherFi website.
On the stock market side, we have entered the second half of September, and the “September effect” could have an impact on the stock markets. Statistically, this is indeed the worst month of the year for stocks..
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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
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