FOMC Minutes, Coinbase-Circle Renewal, and EU Restrictions Dominate Crypto Market This Week
The upcoming week in the crypto market will be dominated by several key events. The release of minutes from the Federal Open Market Committee's July meeting, scheduled for August 19, is expected to provide clues on whether the Federal Reserve will continue to raise interest rates.
Coinbase and Circle are also set to renew their partnership agreement governing USDC, a stablecoin that has gained significant traction in the market. The renewal of this contract, which governs revenue sharing between the two companies, is happening at a critical time for USDC, with its popularity increasing among institutional investors.
The European Union will also introduce new restrictions on transactions with designated crypto platforms from August 23. Additionally, a string of economic data releases is expected, including July industrial production and weekly initial jobless claims in the US. Other notable releases include inflation data from major economies such as the UK, euro zone, and Japan.
The token supply side will also see significant activity, with several large unlocks scheduled for this week. Trump (TRUMP) is expected to release around $40 million worth of tokens on August 18, while LayerZero (ZRO), Kaito (KAITO), Avalanche (AVAX), and Morpho (MORPHO) will each unlock substantial amounts as well.