Crypto Market Declines Amid Clarity Act Uncertainty, Altcoin Events Loom
The cryptocurrency market has experienced a decline in value over the past week, with Bitcoin's price falling by approximately 3% and the index measuring the performance of the top 20 cryptocurrencies set to close down 2.3%. This downturn is largely attributed to the decreased likelihood that the Clarity Act will pass the Senate this year and the postponement of the SEC's planned cryptocurrency hearing.
However, a new week brings numerous economic developments and altcoin events that may impact the market. On Monday, August 17, DGrid AI will open airdrop applications, while Coinbase will end support for USDC deposits and withdrawals on the Noble network. Additionally, Coinbase Futures is launching US500 perpetual futures contracts for US users.
Other notable events include Hashdex shutting down its Bitcoin ETF, Binance delisting several tokens, and Solana suspending domain name registrations with the .sol extension. On Tuesday, August 18, Bithumb will delist two tokens. On Wednesday, a meeting between top executives from the cryptocurrency and prediction markets sectors and the White House is possible.
Thursday's highlights include the release of the Fed's minutes from its latest interest rate decision meeting at 21:00 UTC+3 Turkish time. The following day, South Korea will expand its oversight of cryptocurrency operators to include major shareholders. Furthermore, the Step application within the 'Move-to-Earn' project is discontinuing its service.