Highlights
The crypto market is gearing up for a defining week with several major crypto events and macroeconomic updates lined up. From the anticipated Linea token launch and airdrop to U.S. economic data, the cryptocurrency community is watching closely to weigh where the market could head next.
This week’s key crypto events include Linea token launch and airdrop on September 10. U.S. jobs data, inflation reports, OPEC’s monthly outlook, and Michigan consumer sentiment figures are also expected this week.
The launch of the Linea token is one of the most-awaited events this week. Linea airdrop goes live on September 10, with the token generation event (TGE) expected to distribute around 9.36 billion LINEA tokens over 749,000 eligible wallets. Users who qualify will be able to claim their tokens via Binance Alpha. The largest cryptocurrency exchange, Binance, will also list the $LINEA token on the same day.
The Bureau of Labor Statistics will release its 12-month jobs data revision this week. In August, only 22,000 jobs were added compared to the 75,000 expected, while unemployment climbed to 4.3%. If the revision shows the labor market is even weaker, it could increase pressure on the Federal Reserve to consider rate cuts. This is something that often benefits risk assets like cryptocurrencies.
The August inflation reports are the most important data releases of this week’s crypto events. The Producer Price Index (PPI) arrives on Wednesday, followed by the Consumer Price Index (CPI) on Thursday. Since inflation is still running above 3%, the CPI results will be closely monitored ahead of the Fed’s meeting, September 16-17.
If the data comes in hotter than expected, it could strengthen the dollar and put pressure on the crypto market. On the other hand, if numbers are weak, there could be increased hopes of Fed cuts. Either way, these reports could drive volatility across crypto tokens.
Other important events to expect this week are
These reports may influence the positioning of markets before the upcoming Fed meeting.
The spotlight this week is on the Linea token launch and airdrop, alongside key U.S. jobs data and inflation reports. Together, these developments are likely to spark plenty of movement in the crypto market. With major blockchain milestones and critical economic signals unfolding at the same time, volatility is almost certain.
Former U.S. SEC Chair Gary Gensler appeared on CNBC's "Squawk Box" and addressed his concerns…
Dogecoin (DOGE), the pioneering meme coin, has taken a hit as the crypto market crashed…
Ethereum (ETH) experienced a drop of around 3% in the past 24 hours, to trade…
The cryptocurrency market is expecting a big week ahead, as the U.S. Federal Reserve prepares…
The crypto market was buzzing this week with big whale moves, fresh economic reports, new…
Pepe Coin price is outperforming other mainstream meme coins today, soaring around 13% over the…