WEEKLY MARKET EXPECTATIONS:
| Date | Time | Currency | Event | Expectation | Previously Announced Data |
|---|---|---|---|---|---|
| August 26, Monday | – | STRK | STRK mainnet upgrade will take place. | – | – |
| August 29, Thursday | 15:30 | USD | US Gross Domestic Product (GDP) | 2.8% | – |
| August 30, Friday | – | TRY | Turkish stock exchanges and banks will be closed due to a public holiday. | – | – |
| August 30, Friday | 12:00 | EUR | Consumer Price Index (CPI) (Yearly) (Aug) | 2.2% | 2.6% |
– Fed’s Rate Cut Depends on Incoming Data
Fed Chair Powell stated during his speech at the Jackson Hole symposium, “The time has come for policy adjustment. The direction is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks. After the worst price surge in forty years caused pain for millions of households, inflation appears largely under control. My confidence that inflation is on a sustainable path toward 2% has increased.”
– SOL ETFs Rejected
The US Securities and Exchange Commission (SEC) has rejected Cboe BZX’s 19b-4 filings for two spot Solana (SOL) ETFs. According to a source familiar with the matter, these filings have been removed from Cboe’s website. The SEC raised concerns about Solana being classified as a security during discussions with issuers.
-Trump’s New Telegram Channel
Donald Trump Jr., the son of former U.S. President Donald Trump, announced the launch of a new Telegram channel last week. In a post on X, Trump Jr. stated, “There are many rumors circulating about our crypto project. To get the real story and follow official announcements, join our official Telegram channel. Don’t trust the speculation; get the news directly from here!” The channel has been named The DeFiant Ones. This name aligns with trademark applications filed in July. Recently, it was revealed that a company called AMG Software Solutions submitted trademark applications for the terms “Be DeFiant,” “World Liberty,” and “World Liberty Financial.” The visual for the channel features a still from the assassination attempt on Trump. Within minutes of the announcement, over 30,000 people joined the Telegram channel.
–Telegram Founder Pavel Durov Arrested in France
Telegram’s founder, Pavel Durov, was arrested at Le Bourget Airport near Paris, France. This arrest is based on allegations that the Telegram platform has been hosting various illegal activities. According to French authorities, Durov failed to adequately address crimes such as terrorism, drug trafficking, money laundering, and child exploitation occurring on his platform, indirectly making him complicit in these offenses. Under Durov’s leadership, Telegram is widely used, particularly in Russia, Ukraine, and former Soviet countries, drawing the attention of numerous governments. The platform is frequently used in these regions to spread information and propaganda, leading to criticisms that the content is not sufficiently regulated. Durov’s arrest is seen as a consequence of these concerns.
Elon Musk believes that European authorities’ detention of Pavel Durov is an attack on freedom of speech. Musk responded to a post by American entrepreneur Vivek Ramaswamy, who stated, “Today it’s Telegram. Tomorrow it will be X,” agreeing that Ramaswamy was absolutely right. Musk emphasized that such incidents could be part of a broader threat to free speech on major tech platforms. He also suggested that these actions might mark the beginning of a wider crackdown, with other social media platforms potentially facing similar challenges in the future.
In response to the situation, Telegram stated that their moderation processes are fully aligned with industry standards and are continuously updated. The company remarked, “It is highly unreasonable to hold a platform or its owner responsible for the misuse of that platform.”
Telegram also noted that Durov frequently travels within Europe and emphasized that they are in full compliance with the European Union’s Digital Services Act, which was enacted to ensure online safety. Additionally, they highlighted their ongoing efforts to enhance the security of their platform.
-35,000 ETH Crypto Transfer by the Ethereum Foundation
The Ethereum Foundation transferred 35,000 ETH to the Kraken exchange. Although this transaction was part of treasury management, it caused concern among investors because it was not previously announced. The Foundation stated that this amount of ETH would be sold gradually and that transactions would be conducted carefully to avoid market fluctuations. Such transfers can lead to temporary market volatility and affect investor confidence. However, transparent communication and strategic sale plans can help minimize these concerns.
-Dogwifhat (WIF) Gains Attention on World Dog Day
Dogwifhat (WIF) gained significant attention with the support of whales, standing out among dog-themed memecoins with a market capitalization of $1.85 billion. World Dog Day, celebrated on August 26th, has seen a rise in the popularity of such thematic cryptocurrencies.
-BTC:
Bitcoin, which tested the $65,000 level over the weekend, is experiencing pullbacks again. According to Elliott Wave Theory, analysis results indicate a positive start in the short term, neutral in the medium term, and an increasing expectation of a negative trend in the long term. In this context, $66,838 emerges as the first target level in the near term, while in the bearish scenario, there could be pullbacks to the level of $45,553 in the long term.
“This research report’s investment information and commentary do not constitute investment advice.”
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