Impact of This Week’s US Economic Data on Crypto Markets
Crypto markets remained relatively stable over the weekend, maintaining gains from last week's spot Ethereum exchange-traded fund approvals in the U.S. This week, key economic data releases, such as consumer confidence and GDP indicators, will be closely watched.
Economic Calendar (May 27-31)
-Monday: Memorial Day in the U.S. - Markets closed, low volatility expected for crypto assets. -Tuesday: Consumer confidence data release. Improved slightly in May, bolstered by better-than-expected weekly jobless claims and manufacturing and services PMIs last week. - Thursday: Q1 2024 GDP Growth Annualized report. Provides an advanced estimate of the economy’s health. The U.S. Bureau of Economic Analysis estimates annualized growth has slowed to 1.5%, slightly below initial estimates. - Friday: April Core Personal Consumption Expenditures (PCE) report. Indicates monthly consumer spending and is a key inflation gauge for Federal Reserve FOMC policymakers. - Related Personal Income and Personal Spending report also due. Reflects total personal income and consumer spending on goods and services, crucial for understanding economic growth and Fed monetary policy decisions. All Week: Total of ten speeches from Federal Reserve officials.
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LTO Network has established itself as Europe's leading blockchain with strong real-world usage. It was founded on B2B enterprise solutions such as decentralized workflows, data & document verification and authentication. In 2021, LTO Network's COBALT mainnet update expanded this solid base with the addition of Decentralized Identifiers (DID) and Verifiable Credentials (VC), putting LTO Network on the road of becoming a true layer-1 blockchain. In turn, Decentralized Identities and Verifiable Credentials are at the core of LTO Network's newest focus; NFT2.0 technology, where people truly own and manage their NFTs in a decentralized way.
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TokenFi aims to simplify the crypto and asset tokenization process and eventually become the foremost tokenization platform in the world.
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