We are about to leave another week behind in the field of Bitcoin and altcoins. This week’s Jackson Hole meeting was filled with news such as the speech of Fed Chairman Jerome Powell. The developments had a negative impact on crypto prices. However, there were innovations in many projects throughout the week. In the new week, we will continue to see network updates, stock market listings, and new product launches. The list below includes what will happen tomorrow, that is, on the first day of the new week. Here are the details…
Tomorrow will be an important day for 9 altcoin projects
In the past years, Bitcoin has dominated the cryptocurrency market. It even covered 70 percent of the total crypto market. However, the situation is quite different now. Bitcoin’s share in terms of total value is below 40 percent. Also, new cryptocurrencies are emerging every day. Therefore, investors see where the industry is going by following the developments in crypto networks. In addition, such developments have the potential to affect the price of the altcoins in question. Thus, the focus of investors is on developments in altcoin ecosystems. In the list below, you can see what will happen tomorrow:
- Athos Finance (ATH) has announced that the airdrop request process will end tomorrow.
- Ultra (UOS) will launch the Uniq marketplace tomorrow.
- Bitget is listing the Cere Network (CERE) tomorrow.
- Klaytn (KLAY) will perform the Magma hard fork tomorrow.
- Carbon (CRBN) will launch the Battletanks 2 Closed beta.
- LBank lists ISLAMICOIN (ISLAMI) with USDT pair tomorrow.
- BitMart lists Aimedis (AIMX) with USDT pair at TSI 12.
- BitMart lists AssaPlay (ASSA) with USDT pair at 17 CET.
- Fringe Finance (FRIN) is launching UNI collaterals tomorrow.
What is the latest situation in the market on the last day of the week?
The crypto industry has lost 6.8 percent of its value in the last 24 hours. Over $300 million of positions were liquidated in the bloodbath. Bitcoin’s price has lost 6.6 percent of its value in the past 24 hours. It dropped as low as $20,042 in this timeframe. In the past seven days, Bitcoin has dropped 4 percent. The asset is currently trading 70 percent below its all-time high. According to Coinglass data, the total Bitcoin liquidation in the last 24 hours is $83 million.
Ethereum is down 11.7 percent. ETH suffered a serious loss of momentum as it slumped below $1,500 for the first time in weeks. The drop meant that gains from the merge expectation in recent weeks have been wiped out from the market. In the past seven days, Ethereum has lost more than 7 percent of its value. Other major cryptocurrencies also suffered sharp drops as traders lost millions. Ripple-backed XRP fell 5.6 percent to liquidate $2.66 million. Solana, on the other hand, fell 9.9 percent to liquidate $6.81 million.
As we have reported as Kriptokoin.com, the latest market drop is attributed to the speech of Fed Chairman Jerome Powell. According to Powell, the bank is determined to contain rising inflation by introducing tighter policies to the economy. Some market analysts interpreted this as a sign that officials could raise interest rates again at their September meeting.
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