Market
Major Market Events to Watch
Crypto markets are off to a shaky start, but several events this week could impact portfolios. Traders and investors will be watching closely, hoping to take advantage of the price swings these events might cause.
The common “buy the rumor, sell the news” strategy could come into play as traders make moves around key crypto events this week.
US CPI Data Could Impact Bitcoin and Broader Crypto Market
The Consumer Price Index (CPI) report, set for release on September 11, is one of the most important events this week. After a quiet period in 2023, macroeconomic data is once again impacting Bitcoin (BTC) and crypto markets. Traders are seeing increased volatility around key reports, with CPI being a major focus.
“Bitcoin made a significant bounce and reached $54,800-55,200. I do not know whether we are continuing that pace in one go. It’s CPI week, another big data point. Expecting liquidity to be taken and then <$53,000 before we go back up. Invalidated if break above $56,000 -> positive,” renowned crypto investor Michaël van de Poppe wrote.
Read more: Bitcoin (BTC) Price Prediction 2024/2025/2030
Zero1 Labs Announces Technical Roadmap
Decentralized AI ecosystem Zero1 Labs is set to unveil its technical roadmap. Zero1 Labs is focused on building AI systems on the blockchain, promoting a more equitable, democratic approach to AI development.
As the network positions decentralized AI as a key driver of innovation, its token, DEAI, may experience volatility around the roadmap release. Zero1 Labs has also hinted at “something special” for financial solutions company Cypher in its upcoming announcement.
SushiSwap Enters Meme Coin Race
Amid the ongoing meme coin battles between Solana’s Pump.fun and Tron’s SunPump, SushiSwap is entering the scene on September 10 with its new meme coin launchpad, Dojo. As BeInCrypto reported, Dojo aims to address pump-and-dump issues common in the meme coin space.
To make this initiative stand out in an overcrowded market, SushiSwap has partnered with Goat Trading. This collaboration seeks to position Dojo as a safer alternative amid growing concerns about rug pulls and scam tokens in the meme coin ecosystem.
“Using narrow-range liquidity on Sushi V3, we’re able to allow users to sell tokens without any slippage. Instead of dumping on the market, users can provide liquidity that is sold as price rises so it causes no dumps. Whales, snipers, and teams can sell without large dumps,” SushiSwap explained on X (Twitter).
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Like Tron’s TRX token, which benefited from the excitement around SunPump, the SUSHI token could see a similar boost from this new initiative. BeInCrypto previously reported that August was TRX’s most bullish month since April-May 2021.
Starknet Proposes STRK Staking
Ethereum Layer-2 scaling solution Starknet recently announced plans to launch STRK staking through a community vote, marking a new chapter in its governance. For the first time, STRK holders will be able to vote on the Mainnet, giving them direct influence over the staking mechanism and the network’s future.
By staking their STRK tokens, holders can enhance Starknet’s security while earning rewards. The proposal includes a minting mechanism to manage token creation and rewards, alongside a protocol for modifying these parameters, balancing network security with inflation control.
As the proposal moves forward, STRK may experience volatility, presenting opportunities for investors anticipating the token’s future growth.
Polygon’s POL Listing on Binance
Binance, the largest exchange by trading volume, will list Polygon’s POL token on September 13. Polygon recently transitioned from MATIC to POL, boosting token flexibility and network functions.
POL will play a key role in the Polygon 2.0 roadmap, supporting staking and gas functions across its ecosystem.
Read more: Polygon (MATIC) Price Prediction 2024/2025/2030
Traders are increasingly focused on POL, making it a token to watch this week. BeInCrypto data shows growing interest in POL , with the price trending upward to $0.378 at the time of writing.
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