Crypto News
UBS Urges Caution Despite Positive US Economic Data
UBS reported on Friday that U.S. stocks extended their rally as new economic data, including a 1% rise in July retail sales, eased concerns about a potential recession. Despite the encouraging consumer resilience, UBS cautioned that the risk of a significant economic slowdown remains, especially after weaker July jobs data. Investors are advised to waitSource link
Fedwatch Tool and Polymarket Indicate Strong Odds for September Rate Cut
Right now, the market is leaning towards the U.S. Federal Reserve lowering the benchmark interest rate at the Sept. 18, 2024, Federal Open Market Committee (FOMC) meeting. The CME Fedwatch tool currently indicates a 75% likelihood of a 25-basis-point (bps) rate cut. Over on Polymarket, bettors are even more confident, showing an 82% chance ofSource link
Meme Coins Lose Steam: $20 Billion Wiped From Market Since May
During the first half of 2024, meme coins took the spotlight, captivating the crypto world with their quirky charm. However, the hype appears to be cooling off as we move into the latter part of the year. According to Google Trends, searches for “meme coins” have significantly decreased, and since May 21, the meme tokenSource link
Harris or Trump? Either Will Bring Crypto Regulation, Says Kevin O’Leary
The Canadian investor and “Shark Tank” star says government intervention is inevitable for a maturing crypto industry.Source link
‘PokeyQuest’ Is a Slick Telegram Tap-to-Earn Game, But Nintendo’s Lawyers Might Not Love It
TELEGRAM TRYOUT: There’s something a little too familiar about Telegram tap-to-earn game PokeyQuest, but at least it looks great.Source link