Crypto Market Slumps Amid Hawkish Speech, Multiple Altcoin Events Ahead

The cryptocurrency market experienced a decline following Federal Reserve Chairman Kevin Warsh's hawkish speech in Jackson Hole. Bitcoin is currently trading at $79,368. Several economic developments and altcoin events are scheduled for the new week.

On Monday, August 31, Revolut will delist USDT, while ENS' Vision platform suspends operations. HyENA has announced its cessation of operations and will be delisted from trading markets until September 2nd. Summer.fi is discontinuing services, and Printr, a single-point token distribution platform, has ceased operations.

Tuesday, September 1, sees the discontinuation of Cosmostation Wallet's wallet service. Franklin Templeton's two Bitcoin dividend reinvestment ETFs will go live, while the TON bridge-v3 inter-chain bridge is permanently closed. Russia launches a digital ruble and Ethos holds a WHUF token auction.

Russia's comprehensive law on regulating crypto assets comes into effect on September 1. Secret Network migrates to the Arbitrum ecosystem and takes an asset snapshot on September 1. Key economic indicators include the Euro Area Consumer Price Index (CPI) on Wednesday, and US Initial Jobless Claims, Average Hourly Earnings, Non-Farm Payrolls Data, and Unemployment Rate on Friday.