Cryptocurrency

Metaplex

Bitcoin

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/recent-events-impact-cryptocurrency-markets-and-feds-monetary-policy/" data-wpel-link="internal">Recent Events Impact Cryptocurrency Markets and Fed’s Monetary Policy</a><br></p>
<p style="text-align: justify">In the last few minutes, two significant developments emerged in the <a href="https://en.coin-turk.com/americas-economic-data-and-its-possible-effects-on-cryptocurrencies/" data-wpel-link="internal">cryptocurrency</a> markets. As this article was being prepared, Fed member Barkin was speaking, and FTX announced a new <a href="https://en.coin-turk.com/ordi-uses-bitcoins-ordinals-protocol-for-memecoin-integration/" data-wpel-link="internal">altcoin</a> sale. At that moment, Bitcoin had returned to $62,110, but weakness in altcoins persisted. What are the details of the recent developments?</p> 
<h2 style="text-align: justify" id="fed-and-ftx">Fed and FTX</h2> 
<p style="text-align: justify">According to information from three different sources, the <strong>FTX</strong> bankruptcy committee will auction off 22.3 million locked WLD Tokens. The tokens, valued at approximately $38 million, are expected to find buyers below their market value, with discounts predicted to range between 40% and 75%. The unlocking of these altcoins will occur gradually until 2028, with daily unlocks scheduled from December 1, 2024, to July 24, 2026. Prior to WLD, FTX had sold <a href="https://en.coin-turk.com/solana-recent-data-and-future-of-sol-token/" data-wpel-link="internal">SOL</a> and Metaplex (MPLX) tokens, completing a $1 billion discounted token sale in May.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-393790 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/WLDUSDT_2024-10-02_19-19-18.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">FTX only holds $594 million in altcoin assets, most of which are hard to liquidate. If we consider that $541 million of this amount is in <strong>FTT Token</strong>, attempting to sell it could drive its price to zero.</p> 
<h2 style="text-align: justify" id="barkin-s-remarks">Barkin’s Remarks</h2> 
<p style="text-align: justify">The second major development involved statements made by Fed member Barkin, who commented:</p> 
<ul> 
 <li style="text-align: justify">The 50 basis point interest rate cut in September was necessary due to its “incompatibility” with declining inflation and unemployment rates.</li> 
 <li style="text-align: justify">The Fed cannot declare the war on inflation over. I expect only a slight decrease in the core PCE Price Index until next year.</li> 
 <li style="text-align: justify">I will closely monitor how low-interest rates affect housing and automobile sales to assess if demand risks outpace supply.</li> 
 <li style="text-align: justify">Recent worker strikes and geopolitical conflicts also pose inflation risks.</li> 
 <li style="text-align: justify">The speed and extent of the interest rate cut cycle require the Fed to pay attention to economic and inflationary developments.</li> 
 <li style="text-align: justify">The Fed’s interest rate cuts aim to recalibrate toward a less restrictive position.</li> 
</ul> 
<p>The post <a href="https://en.coin-turk.com/recent-events-impact-cryptocurrency-markets-and-feds-monetary-policy/" data-wpel-link="internal">Recent Events Impact Cryptocurrency Markets and Fed’s Monetary Policy</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Recent Events Impact Cryptocurrency Markets and Fed’s Monetary Policy

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